The exchange rate between the US dollar and the Nigerian naira continues to fluctuate in the parallel market.
As of Saturday, May 24, 2025, the dollar is being bought at ₦1610 and sold at ₦1614 at the Lagos black market, according to sources within the Bureau De Change (BDC) network.
It’s important to understand that the Central Bank of Nigeria (CBN) does not officially recognize the parallel (black) market. The apex bank has consistently advised individuals and businesses in need of foreign exchange to make transactions through authorized financial institutions, such as commercial banks.
Black Market Dollar to Naira Exchange Rate Today (Lagos, May 24, 2025)
| Type | Rate (₦) |
|---|---|
| Buying | ₦1610 |
| Selling | ₦1614 |
Central Bank of Nigeria (CBN) Official Dollar to Naira Rate
As of the same date, the official rates provided by the CBN indicate:
| Type | Rate (₦) |
|---|---|
| Highest Rate | ₦1585 |
| Lowest Rate | ₦1575 |
Please note: Actual rates may differ slightly depending on the location, transaction volume, and negotiation terms. Exchange rates in the black market are highly volatile and can shift within hours.
For the most reliable and transparent foreign exchange transactions, it is recommended to use official banking channels approved by the CBN.
