The naira continued to trade within a narrow range against the U.S. dollar at the parallel market on Thursday, February 19, 2026, with currency dealers in Lagos quoting an average selling rate of ₦1,350 per dollar and a buying rate of ₦1,335 per dollar, according to sources within the Bureau De Change (BDC) segment.
Black Market Dollar to Naira Rate Today
| Transaction Type | Exchange Rate (USD/NGN) |
|---|---|
| Selling Rate | ₦1,350 |
| Buying Rate | ₦1,335 |
Official (CBN) Dollar to Naira Rate
Data from the official window shows rates hovering within a similar band:
| Category | Exchange Rate (USD/NGN) |
|---|---|
| Highest Rate | ₦1,350 |
| Lowest Rate | ₦1,332 |
CBN Position on Parallel Market
The Central Bank of Nigeria does not recognize the parallel (black) market as an official channel for foreign exchange transactions. The apex bank has consistently advised individuals and businesses seeking forex to process their requests through authorized financial institutions.
Why Rates Differ
Foreign exchange prices at the street market are not fixed and may vary due to:
- Demand and supply pressures for dollars
- Location of the transaction
- Volume of purchase
- Dealer-specific margins
- Market speculation and economic sentiment
As a result, the actual rate at which individuals buy or sell may differ slightly from quoted averages.
