Aboki Naira to Dollar Black Market Exchange Rate Today, 12th May 2026

The Nigerian naira continued its downward slide in the unofficial foreign exchange segment today, with traders in major cities quoting the US dollar at around ₦1,400 for selling, according to widely monitored Aboki FX indicators.

Currency dealers reported that one dollar was being bought at approximately ₦1,385 and sold at ₦1,400 in the black market, reflecting a noticeable uptick from previous sessions and widening the gap with the official rate. This development comes amid persistent demand for foreign currency by businesses and individuals seeking to meet import obligations and other dollar-denominated transactions.

The Central Bank of Nigeria’s official rate stood at ₦1,361.40 per dollar, creating a premium of roughly ₦38 to ₦40 in the parallel market. Market watchers attribute the pressure to a combination of seasonal demand spikes, limited dollar supply inflows, and ongoing economic uncertainties that continue to influence investor sentiment.

In key commercial hubs like Lagos, Abuja, and Kano, activity remained brisk as customers exchanged currencies at roadside points and authorized bureaux de change. Some operators noted increased inquiries from travelers and small-scale importers, contributing to the firmer dollar pricing. Meanwhile, other major currencies followed suit, with the British pound trading above ₦1,878 and the euro hovering near ₦1,630 in the same segment.

Analysts suggest that without stronger foreign reserves buildup or policy measures to boost non-oil exports, the naira could face sustained volatility in the coming weeks. For now, Nigerians are advised to monitor rates closely and engage only with verified dealers to avoid unfavorable spreads or potential risks associated with informal transactions.

As the situation evolves, stakeholders in the financial sector are calling for enhanced liquidity measures to help stabilize the exchange rate environment and support broader economic recovery efforts.