Aboki Naira to Dollar Black Market Exchange Rate Today, 5th May 2026

The Nigerian naira traded at ₦1,400 to the US dollar in the black market today, maintaining levels seen in recent sessions amid balanced demand and dollar availability from various sources.

Currency dealers in major cities including Lagos, Abuja, and Kano quoted the parallel market sell rate around ₦1,400 per dollar, while buyers offered approximately ₦1,380. This created a modest spread that reflects ongoing caution among operators. The Central Bank of Nigeria’s official rate stood nearby at ₦1,374.94, keeping the gap between formal and informal windows relatively narrow.

Market participants noted a slight uptick from earlier in the week, attributed to steady retail and business demand for foreign exchange. Importers handling essential goods continued to source dollars outside official channels to meet deadlines, while remittances and other inflows helped prevent sharper depreciation.

Analysts observe that the naira’s performance this period stems from improved forex liquidity in the banking system and policy measures aimed at stabilizing the currency. However, challenges persist, including pressure from imported inflation and the need for sustained oil revenue and foreign investment to bolster reserves.

For ordinary Nigerians, the current rates influence costs of travel, education abroad, and imported items such as electronics, pharmaceuticals, and vehicle parts. Many small businesses rely on the parallel market for quick transactions when official windows face delays.

As the week progresses, attention turns to fresh inflows and any signals from monetary authorities. Stakeholders advise monitoring developments closely, as shifts in global oil prices or international capital movements could influence the exchange rate in coming days.