May 14, 2026: Dollar to Naira Exchange Rate

On Thursday, May 14, 2026, the Nigerian naira exhibited mixed performance against the United States dollar in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as traders observed liquidity conditions and Central Bank of Nigeria interventions.

In the official market, the Central Bank of Nigeria reported the naira trading at approximately ₦1,375.62 per dollar at the NFEM window, following recent gains that were supported by an increased supply of dollars and higher market turnover.

FX turnover at the NFEM recently rose to about $1.89 billion in a single day, indicating greater liquidity and stronger participation from banks and investors. Analysts said this activity has helped ease pressure on the local currency in recent sessions.

In the parallel market, also known as the black market, the dollar traded between ₦1,395 and ₦1,405, depending on the location and transaction size. Bureau de change operators in Lagos and Abuja quoted buying rates around ₦1,385–₦1,395 and selling rates near ₦1,400–₦1,405.

Reports also indicated that the spread between the official and parallel markets remained relatively narrow, ranging from ₦20 to ₦30, compared with the wider spreads seen earlier in the year.

Financial analysts attributed the naira’s relative stability to ongoing FX interventions by the Central Bank, rising external reserves, and improved investor confidence in Nigeria’s foreign exchange market. Nigeria’s external reserves were recently reported at approximately $48.48 billion.

Currency dealers noted that demand pressure from importers, travelers, and businesses seeking foreign exchange outside the banking system continues to influence black‑market rates despite reforms in the FX sector.

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