As of Friday, May 2, 2025, the exchange rate for the United States dollar against the Nigerian naira at the Lagos Parallel Market, commonly referred to as the black market, shows the naira trading at ₦1,593 per dollar for buying and ₦1,600 per dollar for selling. This is according to information gathered from currency dealers and Bureau De Change (BDC) operators in major market hubs.
It’s important to highlight that the Central Bank of Nigeria (CBN) does not recognize the parallel market as an official channel for foreign exchange transactions. The CBN continues to advise individuals and businesses seeking foreign exchange to conduct their transactions through authorized financial institutions and commercial banks.
Today’s Dollar to Naira Exchange Rates
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Black Market | 1,593 | 1,600 |
| CBN Official Rate (USD to NGN) | Lowest: 1,600 | Highest: 1,606 |
Exchange rates in the parallel market (black market) can fluctuate frequently and may vary based on location, demand, and dealer discretion. Therefore, the rates listed here are for informational purposes and may differ from actual market rates at the time of transaction.
