The exchange rate between the United States dollar and the Nigerian naira at the Lagos parallel market, popularly known as the black market, stood at ₦1,440 per dollar for selling and ₦1,420 per dollar for buying on Friday, March 13, 2026.
Sources within the Bureau De Change (BDC) segment of the market confirmed that traders in the Lagos foreign exchange street market were exchanging the dollar at the above rates as demand for the U.S. currency continues to influence prices in the informal market.
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel or black market for foreign exchange trading. The apex bank has repeatedly advised individuals and businesses seeking foreign currency to obtain it through authorized financial institutions such as commercial banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Selling Rate | ₦1,440 |
| Buying Rate | ₦1,420 |
Dollar to Naira CBN Official Rate Today
| Dollar to Naira (USD to NGN) | CBN Official Rate |
|---|---|
| Highest Rate | ₦1,374 |
| Lowest Rate | ₦1,362 |
The difference between the official rate and the parallel market rate highlights the continued gap between the formal foreign exchange window regulated by the Central Bank of Nigeria and the informal market where many Nigerians obtain foreign currency due to limited supply in the banking system.
However, exchange rates in the black market can fluctuate frequently during the day depending on demand and supply. As a result, the actual price at which individuals buy or sell foreign currency may vary slightly from the figures quoted above.
Readers are therefore advised that forex rates in different locations across Nigeria may differ from what is reported here because market prices are determined by individual traders and prevailing demand.
