Dollar–Naira Exchange Rate Today: May 17th, 2026

According to Ireporter Online, the Nigerian foreign exchange market continued to show divergence between official and parallel market rates on Saturday, May 16, 2026, as the U.S. dollar exchanged at significantly higher values in the black market popularly known as Aboki FX.

In the Lagos parallel market, Bureau De Change operators reportedly sold the dollar at ₦1,400 while purchasing it at ₦1,390, reflecting ongoing pressure in the informal forex segment. Traders noted that rates may vary slightly depending on location and market dynamics.

Meanwhile, the Central Bank of Nigeria (CBN) maintained lower official exchange figures, with the dollar trading between ₦1,369 and ₦1,373. The apex bank has consistently reiterated that it does not recognize transactions carried out in the parallel market, urging individuals seeking foreign exchange to patronize licensed financial institutions.

Market observers continue to highlight the widening gap between both markets, which remains a key concern for Nigeria’s currency stability and broader economic outlook.