The exchange rate between the United States Dollar and the Nigerian Naira at the Lagos Parallel Market, popularly known as the black market or Aboki FX, stood at ₦1,399 per dollar for selling and ₦1,386 per dollar for buying on Wednesday, May 20, 2026.
According to sources within the Bureau De Change (BDC) market, traders continued to adjust rates based on demand and foreign exchange availability.
Dollar To Naira Black Market Rate
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1,386 |
| Selling Rate | ₦1,399 |
Meanwhile, the official exchange rates from the Central Bank of Nigeria showed the naira trading within a lower range in the formal foreign exchange market.
Dollar To Naira CBN Official Rate
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,374 |
| Lowest Rate | ₦1,372 |
The Central Bank of Nigeria has repeatedly stated that it does not recognise the parallel market and has advised Nigerians seeking foreign exchange transactions to use authorised banks and official financial channels.
It is important to note that forex rates may vary depending on location, volume of transaction and market conditions, meaning the actual rate offered by traders or buyers could differ from figures quoted in reports.
