The latest update on the dollar-to-naira exchange rate shows continued activity across both the parallel market and official channels.
Black Market (Parallel Market) Rates
As of Monday, May 4, 2026, traders in Lagos’ parallel market (commonly referred to as Aboki FX) are selling one US dollar at ₦1400 and buying at ₦1385, based on information from Bureau De Change (BDC) operators.
Official CBN Rates
According to the Central Bank of Nigeria, the official exchange rate for the dollar ranges between ₦1362 (lowest) and ₦1374 (highest).
The apex bank continues to distance itself from the black market, advising individuals and businesses seeking foreign exchange to transact through authorized financial institutions.
It’s important to note that forex rates may vary slightly depending on location and market conditions at the time of transaction.