The U.S. dollar exchanged against the Nigerian naira at the Lagos parallel market (commonly known as the black market) today, with Bureau De Change (BDC) operators buying at ₦1,555 and selling at ₦1,565 per dollar.
These rates were gathered from sources within the local forex market in Lagos, where traders continue to operate outside the official banking channels despite ongoing regulatory warnings.
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market as a valid platform for foreign exchange transactions. The apex bank has consistently urged Nigerians to use official banking channels when seeking access to forex.
Dollar to Naira Exchange Rates – April 9, 2025
Black Market (Lagos Parallel Market) Rates:
- Buying Rate: ₦1,555
- Selling Rate: ₦1,565
CBN Official Exchange Rates:
- Highest Rate: ₦1,634
- Lowest Rate: ₦1,589
Exchange rates vary depending on location, demand, and other market conditions. The rates mentioned above may differ from those available at other locations or from other forex dealers.
