Aboki Naira to Dollar Black Market Exchange Rate Today, 4th May 2026
The Nigerian naira continued to face pressure in the black market on Monday, with currency dealers quoting the US dollar at higher levels amid sustained demand from businesses and individuals seeking foreign exchange for various transactions.
According to traders in major cities, including Lagos, Abuja, and Kano, one US dollar was bought at around ₦1,390 and sold at approximately ₦1,400 in the parallel market. This represents a slight uptick from previous sessions, reflecting ongoing supply constraints despite interventions by monetary authorities.
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Market participants noted that activity remained brisk as importers and travellers scrambled to secure dollars outside official channels. The spread between buying and selling rates stayed narrow, indicating relatively stable but elevated trading conditions in the informal segment. For context, the Central Bank of Nigeria’s official rate hovered lower, creating a persistent gap that underscores the dual exchange rate dynamics in the economy.
Analysts attribute the naira’s performance to a combination of factors, including robust demand for foreign currency to settle international obligations and limited dollar inflows from key export sectors. Some observers also point to seasonal pressures and global economic uncertainties influencing investor sentiment toward emerging market currencies.
Currency exchange points reported steady patronage throughout the day, with many advising clients to monitor rates closely as fluctuations can occur rapidly based on availability. Economic stakeholders continue to call for stronger policy measures to bridge the divide between official and parallel markets, aiming to stabilize the local currency and boost confidence in the financial system.
As the week progresses, market watchers will be keen to see whether increased dollar supply from official auctions can ease tensions in the black market or if the naira will encounter further depreciation. Nigerians engaging in cross-border activities are encouraged to verify rates from trusted sources before transacting.
