The Nigerian naira traded with mixed performance against the United States dollar on Wednesday, May 20, 2026, across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market amid continued demand for foreign exchange.
Data published by the Central Bank of Nigeria showed that the naira closed at about ₦1,373.65 per dollar at the official NFEM window, compared to ₦1,373.50 recorded in the previous session, indicating a marginal depreciation of 15 kobo.
At the parallel market, also known as the black market, the dollar exchanged around ₦1,390 for buying and ₦1,400 for selling in major trading hubs including Lagos and Abuja.
Market reports indicated that the gap between the official and parallel market rates remained relatively narrow, reflecting ongoing efforts by monetary authorities to stabilise the foreign exchange market and improve liquidity.
Analysts attributed recent movements in the naira to sustained demand pressure from importers and businesses, despite interventions by the Central Bank aimed at boosting dollar supply in the formal market.
The NFEM remains Nigeria’s official foreign exchange market where exchange rates are determined through market trading activities supervised by the Central Bank.
