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The Central Bank of Nigeria (CBN) on Wednesday retained its benchmark interest rate at 26.5 percent following the conclusion of its two-day Monetary Policy Committee (MPC) meeting, a decision largely anticipated by analysts who expected policymakers to maintain the status quo.

CBN Governor Olayemi Cardoso said the committee decided to keep rates unchanged amid caution over global shocks, particularly uncertainties stemming from developments in the United States and the ongoing conflict in the Middle East.

The decision highlights the MPC’s cautious stance as policymakers seek to balance the need to rein in inflationary pressures and anchor market expectations while sustaining economic recovery.

Data from the National Bureau of Statistics (NBS) showed that Nigeria’s headline inflation rate continued its upward trend in April 2026, rising by 31 basis points to 15.69 percent year-on-year from 15.38 percent recorded in March.

The latest increase marks the second consecutive monthly rise in headline inflation, reversing the disinflationary trend that had persisted for 11 months and pushed inflation down from 34.8 percent in late 2024 to 15.06 percent in February 2026.

“While prevailing inflationary risks may justify a cautious policy posture by the MPC, the CPPE strongly urges the monetary authorities to avoid excessive reliance on monetary policy orthodoxy in managing what is fundamentally a structurally-driven inflation environment,” said Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise.

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Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)

The Black Market Dollar-to-Naira Exchange Rate for 20th May 2026 Can Be Accessed Below.

NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within.

The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.

Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 20th May 2026?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11400 and buy at ₦1385 on Wednesday, 20th May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1374
Lowest Rate ₦1370
Disclaimer:NEWSRAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

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The U.S. Trade and Development Agency has concluded arrangements to deploy U.S.-made wireless infrastructure in Nigeria and other three West African countries.

According to a statement made available by the U.S Embassy, Abuja, U.STDA disclosed the funding for a feasibility study to install approximately 1,500 turnkey mobile communications base stations for deployment of wireless technology across Benin, Côte d’Ivoire, Ghana and Nigeria.

The deployment of American-made mobile base stations, it further stated will address West Africa’s urban-rural connectivity gap and provide millions of West Africans with faster, more reliable mobile access, aimed at supporting economic activity in areas.

The statement reads: “USTDA announced funding for a feasibility study to install approximately 1,500 turnkey mobile communications base stations from Massachusetts-based company Vanu Inc. (Vanu), across Benin, Côte d’Ivoire, Ghana and Nigeria.

“USTDA is bringing private sector solutions to unlock widespread, affordable, trusted internet access in off-grid communities across West Africa,” said Thomas R. Hardy, USTDA’s Deputy Director. “By helping American companies compete in these critical markets, we are offering an alternative to insecure infrastructure while creating export opportunities that make America more prosperous.”

“USTDA’s assistance will fund the study for Vanu Côte d’Ivoire, which has selected Georgia-based Vernonburg Group LLC to provide U.S. expertise to assess the commercial viability of large-scale deployment and help mobilize financing for implementation. The study will evaluate existing network infrastructure, analyze market conditions across all four countries, assess legal and regulatory frameworks, and develop a comprehensive financing plan. The project will generate substantial opportunities to deploy trusted U.S. wireless solutions, network management systems, and other digital infrastructure throughout the project’s implementation.

“The deployment of American-made mobile base stations will address West Africa’s urban-rural connectivity gap and provide millions of West Africans with faster, more reliable mobile access, supporting economic activity in areas that have historically been offline or limited to outdated 2G and 3G networks.

Andrew Beard, CEO of Vanu Inc., said: “Vanu is proud to partner with USTDA to demonstrate how our systems enable mobile network operators in West Africa to deliver broadband Internet and voice services in some of the most economically and operationally challenging markets and prove that connectivity in these markets can be profitable, sustainable and scalable. Building on our pioneering world-first Federal Communications Commission certification of a software radio product, Vanu has developed an ecosystem of American companies to deliver cost-effective systems based on open interfaces and architectures. The USTDA study will help catalyze new investment, expand U.S. exports, and accelerate deployment of trusted, secure digital infrastructure to connect billions of people worldwide.”