The Nigerian naira recorded another slight fluctuation against the United States dollar at the parallel market on Thursday, May 14, 2026, amid continued pressure on the foreign exchange market.
According to Bureau De Change (BDC) operators in the Lagos Parallel Market, popularly known as the black market, the dollar exchanged at ₦1390 for buying and ₦1400 for selling.
Dollar To Naira Black Market Rate
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1390 |
| Selling Rate | ₦1400 |
Meanwhile, official exchange rate figures released by the Central Bank of Nigeria showed lower rates compared to the parallel market.
Dollar To Naira CBN Rate
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1372 |
| Lowest Rate | ₦1369 |
The difference between the official market and the black market rates continues to reflect ongoing demand pressure for foreign currency in Nigeria’s forex market.
The Central Bank of Nigeria has repeatedly stated that it does not recognise the parallel market and has advised Nigerians seeking foreign exchange transactions to use approved commercial banks and official channels.
However, rates at the black market often vary depending on location, demand, transaction volume, and availability of forex, meaning the actual buying or selling price may differ slightly from publicly quoted figures.
