The Nigerian naira traded at around ₦1,375 per dollar in the official Nigerian Foreign Exchange Market (NFEM) on Monday, May 25, 2026, while the parallel market hovered between ₦1,385 and ₦1,400, reflecting a relatively stable yet still pressured currency environment.
According to data from the Central Bank of Nigeria (CBN), the official exchange rate remained close to ₦1,375 per dollar, slightly above the previous closing rate of ₦1,375.46 recorded on May 22.
In the official market, which is managed through the NFEM window, the CBN continues to use a volume-weighted average system to determine daily exchange rates based on supply and demand conditions. This benchmark rate remains central to foreign exchange pricing in the country.
Meanwhile, in the parallel market, operators in Lagos and Abuja quoted the dollar at about ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling. Some currency tracking platforms also placed street trading rates close to ₦1,397 during early trading hours.
The gap between the official and parallel market rates continues to highlight persistent demand pressure in retail forex transactions, as dollar scarcity in certain segments still pushes many traders to the black market.
Analysts say the recent relative stability of the naira has been supported by improved dollar liquidity and tighter monetary policies. However, they caution that ongoing import demand and global economic fluctuations remain key risks to sustained stability in the foreign exchange market.
