The Nigerian naira posted a mixed performance against the United States dollar on Friday, May 15, 2026, across both the official and parallel foreign exchange markets as traders continued to monitor forex liquidity and rising demand pressures.
At the official Nigerian Foreign Exchange Market (NFEM), data from the Central Bank of Nigeria showed the naira exchanging at about ₦1,371 per dollar, slightly weaker than the ₦1,368.95 recorded in the previous trading session.
In the parallel market, commonly referred to as the black market, the dollar traded between ₦1,392 and ₦1,395, depending on location and transaction size. Currency dealers in Lagos and Abuja quoted slightly lower buying rates, while selling prices remained close to the ₦1,395 mark.
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Despite the slight fluctuations, the gap between the official exchange rate and the black market rate remained relatively narrow at around ₦20 to ₦24 per dollar, reflecting ongoing efforts by monetary authorities to maintain stability in the foreign exchange market.
Figures from the interbank market also revealed that forex turnover dropped significantly to approximately $78.8 million, down from about $130.6 million recorded in the previous trading session. The decline suggests weaker trading activity and reduced dollar supply in the market.
Financial analysts attributed the naira’s recent stability to continuous interventions by the Central Bank of Nigeria, improved external reserves, and stronger participation by banks and investors at the official market window.
However, they noted that demand for foreign exchange from importers, manufacturers, travellers, and parents making international school fee payments continues to place pressure on the local currency.
