As of Sunday, January 19, 2025, the exchange rate for the dollar to naira in the Lagos Parallel Market (commonly referred to as the black market) is:
- Buying Rate: ₦1,670
- Selling Rate: ₦1,680
These rates are sourced from Bureau De Change (BDC) operators.
Central Bank of Nigeria (CBN) Exchange Rate
The Central Bank of Nigeria (CBN) does not recognize black market transactions and encourages individuals seeking foreign exchange to transact through official banking channels. The official rates from the CBN are as follows:
- Highest Rate: ₦1,559
- Lowest Rate: ₦1,545
Important Note
Exchange rates vary depending on the transaction location and source. Buyers and sellers may experience differences from the rates mentioned above due to market fluctuations and demand.
For accurate and up-to-date rates, consult with financial institutions or authorized forex dealers.
