As of Tuesday, May 20, 2025, the exchange rate for the U.S. dollar at the Lagos Parallel Market, commonly referred to as the black market, stands at ₦1,625 for buying and ₦1,630 for selling, according to sources within the Bureau De Change (BDC) sector.
This rate reflects ongoing volatility in the foreign exchange market, especially outside the official channels governed by the Central Bank of Nigeria (CBN).
Black Market Exchange Rate (USD to NGN)
- Buying Rate: ₦1,625
- Selling Rate: ₦1,630
It is important to emphasize that the CBN does not officially recognize black market or parallel market transactions. The apex bank has consistently advised individuals and businesses seeking foreign exchange to make use of authorized financial institutions, specifically commercial banks, for all forex-related transactions.
CBN Official Exchange Rate (USD to NGN)
As of today:
- Highest Rate: ₦1,601
- Lowest Rate: ₦1,580
Please note that actual exchange rates may vary based on your location, negotiation strength, volume of transaction, and the dealer involved. These rates are updated regularly but may fluctuate within the day.
For the most accurate and up-to-date information, it’s advisable to check with multiple sources or contact your local BDC operators.
