Fresh checks in the Lagos Parallel Market (popularly known as the black market) show that the U.S. dollar continued to trade above the ₦1,400 mark on Saturday, November 22, 2025.
Currency dealers at various Bureau De Change (BDC) outlets confirmed that the dollar was sold at ₦1,473 while traders bought from customers at ₦1,460.
These rates reflect the ongoing volatility in the informal forex market, which many Nigerians still rely on due to difficulties associated with accessing foreign exchange through the official window.
Important Notice on CBN Position
The Central Bank of Nigeria (CBN) has repeatedly warned that it does not recognize transactions conducted in the parallel market.
The apex bank insists that individuals or businesses seeking foreign exchange should process their requests strictly through their commercial banks, as the black-market rates do not represent Nigeria’s official currency valuation.
Today’s Dollar to Naira Rates
Black Market (Parallel Market) Rates
| Dollar to Naira (USD/NGN) | Rate – November 22, 2025 |
|---|---|
| Selling Rate | ₦1,473 |
| Buying Rate | ₦1,460 |
CBN Official Exchange Rates
| Dollar to Naira (USD/NGN) | CBN Rate Today |
|---|---|
| Highest Rate | ₦1,462 |
| Lowest Rate | ₦1,453 |
The official CBN rates are typically lower than the parallel market prices, reflecting the regulated nature of the formal forex window.
Market Variations
It is important to note that forex prices can fluctuate depending on location, demand pressure, and negotiations between traders and buyers.
Therefore, the rate you encounter when buying or selling dollars may differ slightly from the figures reported here.
