The exchange rate of the U.S. dollar to the Nigerian naira in the parallel market (commonly known as the black market) remains a critical point of interest for traders and individuals engaging in forex transactions.
As of Thursday, March 6, 2025, sources at Bureau De Change (BDC) outlets in Lagos indicate that the buying rate for one dollar is ₦1,550, while the selling rate is ₦1,580.
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. The apex bank has consistently advised individuals and businesses to conduct foreign exchange transactions through authorized financial institutions, such as commercial banks.
Dollar to Naira Black Market Exchange Rate Today
| Dollar to Naira (USD to NGN) | Black Market Rate (₦) |
|---|---|
| Buying Rate | ₦1,550 |
| Selling Rate | ₦1,580 |
Dollar to Naira CBN Exchange Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate (₦) |
|---|---|
| Highest Rate | ₦1,520 |
| Lowest Rate | ₦1,505 |
Important Notice
Foreign exchange rates fluctuate throughout the day based on market demand, supply, and official policies. Therefore, the rates at which individuals buy or sell forex may differ from the figures quoted above. It is advisable to verify exchange rates with authorized dealers before conducting transactions.
For more updates on the dollar-to-naira exchange rate and other financial trends, stay tuned.
