Black Market / Naira Exchange Rate Today, May 12, 2026
The naira traded with slight fluctuations against the United States dollar on Tuesday, May 12, 2026, across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as traders monitored forex liquidity and demand pressures.
At the official market, data from the Central Bank of Nigeria indicated that the naira exchanged at an average rate of about ₦1,358 to the dollar, showing marginal appreciation compared to previous trading sessions. Market activity within the NFEM saw the dollar quoted between ₦1,352 and ₦1,365 depending on transaction volumes and participating financial institutions.
Meanwhile, checks from Bureau De Change operators in Lagos, Abuja, and other major cities showed that the dollar traded at around ₦1,390 for buying and between ₦1,400 and ₦1,410 for selling in the parallel market, popularly known as the black market.
Financial analysts attributed the relative stability of the naira to sustained interventions by the Central Bank of Nigeria and improved foreign exchange inflows into the official market. However, they noted that strong demand for dollars from importers, manufacturers, school fee payments, and foreign travel continues to exert pressure on the local currency.
The narrowing spread between the official and parallel market rates has also been viewed by market observers as a sign of improving confidence in the formal forex market, although concerns remain over inflationary pressures and external sector vulnerabilities.
Currency dealers said the market is expected to remain sensitive to global oil prices, foreign portfolio inflows, and future monetary policy decisions by the apex bank in the coming weeks.
Canadian Dollar to Naira Black Market Today — CAD to NGN
As of today, May 12, 2026, the Canadian Dollar is exchanging at approximately ₦1,000 to ₦1,026 per 1 CAD in Nigeria.
The official market rate is around ₦995–₦1,005 per CAD, while black market rates are slightly higher.
This means 100 CAD is roughly ₦100,000 to ₦102,600 depending on the exchange platform. Rates may vary across banks, fintech apps, and parallel market dealers.
Euro to Naira Black Market Today — EUR to NGN
As of May 12, 2026, 1 Euro (€) exchanges for about ₦1,590 – ₦1,630.
Rates vary across official and parallel markets. Banks and fintech platforms may offer slightly different rates.
100 Euros is roughly ₦159,000 – ₦163,000.
Pound to Naira Black Market Today — GBP to NGN
As of May 12, 2026, 1 British Pound (£) exchanges for about ₦1,860 – ₦1,885. The black market rate is usually slightly higher. Exchange rates differ by location and platform. 100 Pounds equals about ₦186,000 – ₦188,500.
Chinese Yuan (CNY) to Naira Black Market Rate
As of May 12, 2026, 1 Chinese Yuan (¥) exchanges for about ₦200 – ₦201. The Yuan remains one of the lower-valued major currencies. Rates may change depending on the exchange provider. 100 Yuan converts to about ₦20,000 – ₦20,100.
Australian Dollar to Naira Today — AUD to NGN
As of May 12, 2026, 1 Australian Dollar (A$) exchanges for about ₦980 – ₦1,000.
Rates vary between official and black market exchanges. Banks and exchange apps may charge extra
fees. 100 Australian Dollars equals about ₦98,000 – ₦100,000.
Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.
