The value of the U.S. dollar against the Nigerian naira continues to fluctuate on the parallel market, reflecting the ongoing volatility in Nigeria’s foreign exchange landscape.
As of Friday, April 25th, 2025, the dollar is being bought at ₦1,600 and sold at ₦1,608 in the Lagos black market, according to information obtained from currency traders and Bureau De Change (BDC) operators.
Parallel Market Rates (Lagos – Aboki FX)
| Transaction Type | Exchange Rate (₦) |
|---|---|
| Dollar Buying Rate | ₦1,600 |
| Dollar Selling Rate | ₦1,608 |
These rates represent the average price across key trading hubs in Lagos and may vary slightly depending on demand, location, and negotiation power.
Official CBN Dollar to Naira Rate – April 25, 2025
The Central Bank of Nigeria (CBN) maintains a separate official exchange rate which is typically lower than black market rates. Today, the official exchange rate ranges between:
| CBN Rate Category | Rate (₦) |
|---|---|
| Highest Rate | ₦1,605 |
| Lowest Rate | ₦1,580 |
It is important to note that the CBN does not recognize the black market as a legitimate platform for forex transactions. The apex bank strongly encourages individuals and businesses to use licensed financial institutions and banks for all foreign exchange dealings to ensure transparency, regulatory compliance, and financial security.
Why the Difference Between CBN and Black Market Rates?
The disparity between the official CBN rate and the black market rate is largely driven by supply and demand forces. Limited access to foreign currency through official channels often pushes individuals and businesses to the parallel market, where rates are dictated by market dynamics rather than regulatory policy.
Foreign exchange rates are highly sensitive and subject to rapid changes based on market conditions, government policies, and global economic trends. The rates provided in this report are based on available data at the time of writing and may differ from the rates you encounter when buying or selling foreign currency.
