The exchange rate between the United States dollar and the Nigerian naira at the Lagos parallel market, commonly referred to as the black market, has continued to fluctuate amid ongoing demand for foreign exchange.
According to sources from Bureau De Change (BDC) operators, the dollar is being sold for ₦1,400 and bought at ₦1,385 on Wednesday, April 29, 2026.
This reflects the prevailing rates in the informal forex market, where exchange values are largely driven by demand and supply rather than official monetary policy.
Black Market Dollar to Naira Rate (USD/NGN)
- Selling Rate: ₦1,400
- Buying Rate: ₦1,385
Meanwhile, at the official window regulated by the Central Bank of Nigeria (CBN), the naira is trading within a slightly lower range.
Official CBN Dollar to Naira Rate
- Highest Rate: ₦1,386
- Lowest Rate: ₦1,365
The CBN continues to maintain that it does not recognize the parallel market and has consistently advised individuals and businesses seeking foreign exchange to transact through authorized financial institutions such as commercial banks.
Despite this directive, many Nigerians still rely on the black market due to limited access to forex through official channels and delays associated with bank transactions.
It is important to note that exchange rates may vary depending on location, volume, and negotiation, meaning the actual rate at which individuals buy or sell dollars could differ slightly from the figures quoted above.
