Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate

Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate

The dollar-to-naira exchange rate at the Lagos Parallel Market (commonly referred to as the black market) is as follows:

  • Buying Rate: ₦1,660
  • Selling Rate: ₦1,665

These figures were reported on Monday, January 6, 2025, based on information from Bureau De Change (BDC) operators.

Important Notes

It is essential to highlight that the Central Bank of Nigeria (CBN) does not recognize the black market for foreign exchange transactions. Instead, the CBN advises individuals and businesses to obtain foreign exchange through authorized financial institutions, such as commercial banks.

Official CBN Rates

For those engaging in forex transactions through official channels, the CBN exchange rates for today are as follows:

  • Highest Rate: ₦1,540
  • Lowest Rate: ₦1,531

Variations in Rates

Please note that forex rates may vary depending on the seller, location, and the specific market conditions. Always confirm rates before completing any foreign exchange transaction.

Stay informed about currency fluctuations as they can significantly impact business and personal financial decisions.

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