As of Thursday, May 8, 2025, the exchange rate for the US Dollar to Nigerian Naira in the Lagos Parallel Market, commonly referred to as the Black Market or Aboki FX, stands as follows:
- Buying Rate: ₦1,620 per $1
- Selling Rate: ₦1,627 per $1
These rates are based on data obtained from Bureau De Change (BDC) operators across key locations in Lagos.
Black Market Dollar to Naira Rate Today (May 8, 2025)
| USD to NGN | Rate (Black Market) |
|---|---|
| Buying Price | ₦1,620 |
| Selling Price | ₦1,627 |
Official CBN Dollar to Naira Exchange Rate – May 8, 2025
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market rates. The CBN advises individuals and businesses seeking foreign exchange (forex) to use the official channels through commercial banks.
Here are the CBN’s rates for the dollar to naira today:
| USD to NGN (CBN) | Official Rate |
|---|---|
| Highest Rate Today | ₦1,614 |
| Lowest Rate Today | ₦1,608 |
Disclaimer and Market Advisory
Please be advised that exchange rates fluctuate frequently due to market forces such as demand and supply, economic outlook, and geopolitical developments. Therefore, the actual rate at which you buy or sell dollars may vary depending on your location, time of transaction, and the dealer involved.
Why the Dollar to Naira Rate Matters
The value of the naira against the US dollar is a critical indicator of Nigeria’s economic health. It affects:
- Import and export prices
- Fuel and commodity costs
- Foreign investments
- Cost of living and inflation
Monitoring the black market rate is essential for individuals, travelers, importers, and investors looking to make timely forex decisions outside the official window.
