The exchange rate between the US dollar and the Nigerian naira continues to draw significant attention across the country, particularly within the parallel market, commonly known as the black market.
Black Market (Aboki) Dollar Rate Today
As of Tuesday, March 17, 2026, sources within the Bureau De Change (BDC) segment of the Lagos parallel market indicate that the naira is trading at:
- Selling rate: ₦1,430 per dollar
- Buying rate: ₦1,412 per dollar
This means individuals looking to purchase dollars will pay a higher rate, while those selling receive slightly less, reflecting the typical spread in the informal forex market.
CBN Official Exchange Rate
In contrast, the official rates provided by the Central Bank of Nigeria (CBN) show a lower range:
- Highest rate: ₦1,355 per dollar
- Lowest rate: ₦1,340 per dollar
The gap between the official and black market rates highlights the continued pressure on Nigeria’s foreign exchange market and the persistent demand for dollars outside formal channels.
The Central Bank of Nigeria does not recognize the parallel market as an official channel for foreign exchange transactions. The apex bank has consistently advised individuals and businesses seeking forex to conduct their transactions through authorized financial institutions, such as commercial banks.
Important Note for Forex Users
It is important to understand that exchange rates in the black market are not fixed and may vary depending on location, volume of transaction, and prevailing market conditions. As a result, the rates quoted above may differ slightly from what traders or buyers encounter in real-time.
With ongoing economic adjustments and forex demand pressures, market watchers continue to monitor how both official and unofficial exchange rates evolve in the coming days.
