The exchange rate between the US dollar and the Nigerian naira in the parallel market, commonly known as the black market (Aboki FX), has been outlined for May 5, 2026.
According to Bureau De Change (BDC) sources in Lagos, the dollar was sold at ₦1,400 and bought at ₦1,385 in the black market on Tuesday.
Black Market (Parallel Market) Rates
- Selling Rate: ₦1,400
- Buying Rate: ₦1,385
Meanwhile, the official rates from the Central Bank of Nigeria (CBN) showed a slightly lower range:
CBN Official Rates
- Highest Rate: ₦1,370
- Lowest Rate: ₦1,362
It is important to note that the CBN does not recognise the parallel market and advises individuals seeking foreign exchange transactions to go through authorised banks.
Rates may also vary depending on location and market conditions, meaning the actual buying or selling price could differ slightly from the figures listed above.