The value of the naira continued to fluctuate on Friday, December 5, 2025, as trading activities resumed across major currency exchange hubs in Lagos and other cities.
Information gathered from Bureau De Change (BDC) operators indicates that the U.S. dollar was sold at ₦1,474 in the parallel market, while buyers were offered a rate of ₦1,465. These figures reflect ongoing volatility within the informal foreign exchange market, commonly referred to as the black market.
Black Market (Aboki FX) Rates
| Dollar to Naira Rate | Parallel Market Rate |
|---|---|
| Selling Price | ₦1,474 |
| Buying Price | ₦1,465 |
Official CBN Exchange Rate
Unlike the black-market rate, the Central Bank of Nigeria (CBN) maintains a regulated exchange framework. According to available figures, the official rate ranged between ₦1,448 and ₦1,456.
| Dollar to Naira Rate | CBN Official Rate |
|---|---|
| Highest Rate | ₦1,456 |
| Lowest Rate | ₦1,448 |
Important Notice to Forex Users
The CBN has repeatedly emphasized that it does not recognize parallel market exchange rates for legal or official transactions. Individuals and businesses seeking foreign currency have been advised to obtain forex directly from commercial banks or licensed financial institutions under approved guidelines.
Why the Rates Differ
The gap between the official CBN rate and the parallel market rate continues to widen due to several factors, including:
- Rising demand for foreign currency for imports and international payments
- Limited forex supply through official banking channels
- Speculation and market uncertainty
- Economic pressures such as inflation and global market shifts
This difference often results in varying prices depending on the state, trader location, timing, and negotiation power.
Exchange Rate Disclaimer
Foreign exchange prices change frequently due to market dynamics. Rates quoted here are based on average figures gathered from market sources and may vary depending on your location and transaction volume.
