Dollar To Naira Today: Latest Exchange Rate For May 6, 2026

The naira continued to trade against the United States dollar at varying rates across segments of the foreign exchange market on May 5, 2026. According to reports from Ireporter Online, activity at the Lagos parallel market, commonly referred to as the black market, indicated that the dollar was sold at approximately ₦1,400 and purchased at around ₦1,385 by Bureau De Change operators. The figures reflect prevailing demand and supply dynamics within the informal forex segment, where rates often fluctuate throughout the day.

Market insights further revealed that while the parallel market remains widely patronised, the Central Bank of Nigeria continues to distance itself from such transactions, maintaining that it does not officially recognise the black market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to channel their requests through authorised financial institutions.

At the official window, data shows that the dollar traded within a range, with the highest rate recorded at ₦1,370 and the lowest at ₦1,362. Analysts note that disparities between the official and parallel market rates persist due to ongoing liquidity constraints and speculative pressures. However, actual buying and selling prices may differ slightly from quoted figures, as exchange rates are subject to real-time market forces and dealer negotiations.