The Nigerian Naira opened the week on a relatively stable note on Monday, May 4, 2026, trading at N1,375.98 per US Dollar in the official foreign exchange market.
This reflects a slight 0.02% appreciation compared to earlier session figures, according to data from the Nigerian Foreign Exchange Market (NFEM).
The local currency briefly touched N1,376.00 before settling near its current rate, indicating mild fluctuations within controlled market conditions.
Earlier in the day, the Naira was recorded at N1,375.65, showing marginal improvement as trading progressed.
In the parallel market, however, the currency continues to trade at a higher premium, with Bureau De Change operators in Lagos and Abuja quoting the Dollar at an average buying rate of N1,410.
The widening gap between official and black market rates underscores ongoing demand pressures despite Central Bank of Nigeria efforts to stabilise liquidity. Analysts say global oil prices and domestic policies will shape further movement.
