Economy
Dollar-To-Naira Exchange Rate For May 24, 2026
Reports from the Lagos parallel market indicate that the naira continued to trade weakly against the United States dollar on Saturday, May 23, 2026, as foreign exchange dealers exchanged the dollar at an average selling rate of ₦1,395 and a buying rate of ₦1,385.
Information gathered from Bureau De Change operators showed that the black market, popularly referred to as the Aboki FX market, maintained a noticeable gap from the official exchange window regulated by the Central Bank of Nigeria (CBN).
Meanwhile, figures from the official CBN market revealed that the dollar traded between a highest rate of ₦1,377 and a lowest rate of ₦1,374 during the trading period.
Financial analysts continue to note that exchange rates in the parallel market are influenced by demand, dollar supply, and market speculation, causing rates to fluctuate across different locations and dealers.
The Central Bank of Nigeria has repeatedly maintained that it does not recognize the parallel market and has advised individuals seeking foreign exchange transactions to conduct them through authorized financial institutions and commercial banks.
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