Dollar Vs Naira Today: Latest Exchange Rate For May 5, 2026

The naira continued to trade within a narrow range against the United States dollar at the parallel market on Monday, May 4, 2026, reflecting ongoing dynamics in Nigeria’s foreign exchange landscape. According to market sources, commonly referred to as Bureau De Change operators, the dollar was sold at ₦1,400 and purchased at ₦1,385 in the Lagos parallel market, also known as the black market.

Reports indicate that the exchange rate remains largely influenced by demand and supply pressures outside the official window, with traders noting slight fluctuations across different locations. Findings gathered by Ireporter Online suggest that individuals seeking to exchange dollars for naira were able to do so within this bracket, although actual transaction rates may vary depending on negotiation and volume.

Meanwhile, data from the official window showed that the Central Bank of Nigeria recorded the dollar trading at a highest rate of ₦1,374 and a lowest rate of ₦1,362 for the same period. The disparity between the official and parallel market rates continues to highlight the persistent gap in Nigeria’s foreign exchange system.

The apex bank has consistently maintained that it does not recognize transactions carried out in the parallel market and has advised individuals and businesses seeking foreign exchange to utilize authorized financial institutions. Despite this directive, activity in the black market remains active, driven by unmet demand in the official segment.

Market observers note that exchange rates across both windows are subject to constant changes, emphasizing that the figures reported may differ slightly from actual buying or selling rates at any given time.