Dollar to Naira Exchange Rate on May 2, 2026

On May 2nd, 2026, the exchange rate of the US dollar to the Nigerian naira was reported, highlighting a black market rate of 1,400 naira for one dollar. In contrast, the swap dollar to naira exchange rate stood at 1,385 naira.

The article emphasizes that the parallel market, often referred to as the black market, is not acknowledged by official banking institutions. It also advises individuals wishing to engage in currency exchange to approach banks directly, suggesting a preference for formal financial channels over informal ones.

The information reflects the ongoing dynamics of currency exchange in Nigeria, particularly the disparity between official and black market rates.