Aboki Naira to Dollar Black Market Exchange Rate Today, 1st May 2026

The Nigerian Naira maintained a relatively stable position against the US Dollar in the black market today, with dealers quoting rates hovering between ₦1,390 and ₦1,400 per dollar amid cautious trading activities on this public holiday.

According to popular forex tracking platforms like Aboki Forex, the parallel market saw buyers offering around ₦1,393 for one dollar while sellers demanded up to ₦1,398. Other aggregators reported similar figures, with buy rates dipping as low as ₦1,385 and sell rates reaching ₦1,400 in different parts of Lagos and major cities.

This stability comes after minor fluctuations in the preceding days, where the Naira showed resilience despite ongoing pressures from import demands and limited dollar supply in the unofficial segment. Market participants noted thin trading volumes today due to the Workers’ Day celebration, which reduced street transactions but kept rates firm as suppliers held onto their positions.

In contrast, the official market reflected by the Central Bank of Nigeria (CBN) window traded the greenback closer to ₦1,375, highlighting the persistent gap between the two segments. Analysts attribute the parallel market’s firmness to sustained demand for foreign exchange by businesses and individuals for travel, education, and medical needs abroad.

Currency dealers in key hubs such as Idumota and other Lagos areas advised caution, warning that rates could shift quickly once full trading resumes next week. “The market is watching global oil prices and any new policy signals from the apex bank,” one trader remarked. Importers and exporters continue to navigate the dual-rate environment, with many preferring the flexibility of the black market for immediate needs.

As Nigeria marks Labour Day, economic observers are monitoring how recent interventions by monetary authorities might influence liquidity in the coming days. For now, the Naira appears to have found a short-term equilibrium in the parallel market, offering a breather to those tracking daily forex movements. Rates remain indicative and can vary by location, transaction size, and dealer.