The value of the naira continued to fluctuate in the parallel market as traders in the Lagos Black Market quoted varying rates for buying and selling the US dollar.
According to information gathered from Bureau De Change (BDC) operators, the dollar exchanged for ₦1,474 on the selling side and ₦1,460 on the buying side.
It is important to emphasize that the Central Bank of Nigeria (CBN) does not officially recognize transactions conducted in the black market. The apex bank has consistently maintained that individuals or businesses seeking foreign exchange should make such requests through their commercial banks or authorized financial institutions.
Black Market Dollar to Naira Rate Today
| Dollar to Naira (USD/NGN) | Parallel Market Rate |
|---|---|
| Selling Rate | ₦1,474 |
| Buying Rate | ₦1,460 |
CBN Official Exchange Rate Today
At the official foreign exchange window, the rates quoted by the CBN for Monday, 24th November 2025, are as follows:
| Dollar to Naira (USD/NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,462 |
| Lowest Rate | ₦1,451 |
Why Rates Differ Across Markets
Foreign exchange prices in Nigeria often vary across different locations and platforms due to several factors, such as demand pressure, liquidity levels, trader speculation, and availability of cash.
As a result, the rate at which you buy or sell dollars may be slightly higher or lower than the figures quoted in this report. Market conditions can change quickly, so individuals are advised to confirm rates from multiple sources before completing any transaction.
