The Nigerian naira traded within a relatively stable range against the United States dollar on Monday, May 25, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.
Data from the Central Bank of Nigeria showed that the official NFEM exchange rate hovered around ₦1,375 per dollar, following the previous closing rate of ₦1,375.46/$ recorded on May 22.
In the parallel market, commonly referred to as the black market, Bureau De Change operators in Lagos and Abuja quoted the dollar at approximately ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.
Currency monitoring platforms tracking retail forex transactions also indicated that the naira traded close to ₦1,397 per dollar in the street market during Monday’s early trading hours.
Analysts noted that the difference between the official NFEM rate and the parallel market rate continues to reflect sustained demand pressure within the retail foreign exchange segment, despite ongoing monetary reforms and interventions by the Central Bank.
Market observers added that recent stability in the naira has largely been supported by improved dollar liquidity and tighter monetary conditions, although concerns remain over import-related forex demand and volatility in global markets.
The NFEM remains the official foreign exchange platform used by the Central Bank, where exchange rates are determined through a volume-weighted average pricing system.
