As of Thursday, May 1, 2025, the exchange rate for the U.S. dollar to the Nigerian naira at the Lagos Parallel Market—commonly referred to as the black market—stands at ₦1602 per dollar for buying and ₦1610 per dollar for selling, based on information from traders and sources within the Bureau De Change (BDC) sector.
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the rates in the parallel market. The apex bank continues to urge individuals and businesses in need of foreign exchange to access it through official banking channels.
Today’s Black Market Exchange Rate (USD to NGN)
| Transaction Type | Exchange Rate |
|---|---|
| Buying Rate | ₦1602 |
| Selling Rate | ₦1610 |
Official CBN Exchange Rate (USD to NGN)
According to the Central Bank of Nigeria, the official exchange rate for the dollar as of today is as follows:
| Rate Type | Exchange Value |
|---|---|
| Highest Rate | ₦1603 |
| Lowest Rate | ₦1580 |
Exchange rates are subject to constant fluctuations and may vary depending on your location, the dealer involved, and current market conditions. The rates listed here are for informational purposes and may not reflect the exact amount you will receive in your own transaction.
