The naira is not dancing today. Just standing still. And that is not bad news. 😌
On Monday, May 11, 2026, the official market traded at about ₦1,361 per dollar. The black market? Between ₦1,395 and ₦1,405. The gap is small. That means the Central Bank’s efforts are working — for now. 🏦
In Lagos and Abuja, BDC operators bought dollars at around ₦1,385 and sold between ₦1,395 and ₦1,405. Depending on where you buy and how much you want, the price may change slightly. 💵
The good news is that the official and black market rates are close. No wide gap. No panic. Just steady movement.
But here is the problem. Demand is still high. Importers need dollars. Travelers need dollars. Businesses need dollars. Everyone is chasing the same currency. And until that changes, the naira cannot truly rest. 😔
Analysts say improved liquidity is helping. But long-term stability? That will take more time, more dollars, and more confidence in the economy.
So for now, the naira is breathing. But not celebrating. 🇳🇬
