As of Tuesday, May 27, 2025, the exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) at the Lagos Parallel Market, commonly known as the Black Market, shows that the dollar is being bought at ₦1,610 and sold at ₦1,618, according to Bureau De Change (BDC) sources.
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market for foreign exchange transactions. The apex bank has consistently advised individuals and businesses seeking foreign exchange to do so through official banking channels, in line with regulatory guidelines.
Black Market Dollar to Naira Rate
| Exchange Type | Rate |
|---|---|
| Buying Rate | ₦1,610 |
| Selling Rate | ₦1,618 |
These rates are determined by independent forex traders operating in the informal market and can fluctuate throughout the day depending on demand, liquidity, and market sentiment.
CBN Official Dollar to Naira Rate – May 27, 2025
According to data available from the Central Bank of Nigeria:
| CBN Exchange Rate | Rate (NGN) |
|---|---|
| Highest Rate | ₦1,591 |
| Lowest Rate | ₦1,581 |
The CBN exchange rate is the rate at which the dollar is traded through official channels, including commercial banks and authorized dealers.
Please be aware that forex rates vary depending on the market, location, and volume of the transaction. The rates mentioned in this report are for informational purposes only and may differ from actual rates offered by individual traders or financial institutions at the time of exchange.
For the most reliable and legal transactions, individuals and businesses are strongly encouraged to conduct forex dealings through their registered financial institutions or banks approved by the CBN.
