The exchange rate between the United States dollar and the Nigerian naira in the parallel market, popularly known as the black market, showed slight variations on Saturday, March 14, 2026.
Currency traders at the Lagos Parallel Market, commonly referred to as the Aboki FX market, disclosed that the United States Dollar was being sold for about ₦1,440 while the buying rate stood at approximately ₦1,420 per dollar.
The figures were gathered from sources operating within the Bureau De Change (BDC) segment of the foreign exchange market in Lagos.
Dollar to Naira Black Market Rate Today
- Buying Rate: ₦1,420
- Selling Rate: ₦1,440
Meanwhile, the official exchange rate provided by the Central Bank of Nigeria (CBN) indicates a lower range compared to the parallel market.
Dollar to Naira CBN Official Rate
- Highest Rate: ₦1,374
- Lowest Rate: ₦1,362
The difference between the official and parallel market rates highlights the continued pressure on Nigeria’s foreign exchange market, where demand for the dollar remains high.
It is important to note that the Central Bank of Nigeria does not officially recognise the black market for foreign exchange transactions. The apex bank has consistently advised individuals and businesses seeking foreign currency to obtain it through authorised financial institutions such as commercial banks.
However, due to limited access to foreign exchange through official channels, many Nigerians still rely on the parallel market to meet their dollar needs, particularly for travel, school fees, and international payments.
Experts also note that black market exchange rates are highly volatile and may vary depending on location, demand, and the volume of transactions. As a result, the actual rate at which individuals buy or sell foreign currency may differ slightly from the figures quoted by traders.
