The value of the United States dollar against the Nigerian naira continues to fluctuate across different segments of the foreign exchange market, particularly within the parallel market commonly referred to as the black market.
As of Thursday, April 2, 2026, checks from currency traders operating in the Lagos parallel market indicate that the dollar is being sold at approximately ₦1,425, while the buying rate stands around ₦1,412. These figures are based on information gathered from operators within the Bureau De Change (BDC) space, who serve as key players in Nigeria’s informal forex market.
Despite the widespread reliance on the black market for foreign exchange transactions, the Central Bank of Nigeria (CBN) has consistently maintained that it does not recognise this segment of the market. The apex bank has repeatedly advised individuals and businesses seeking foreign currency to conduct their transactions through official channels, particularly commercial banks and other authorized financial institutions.
Black Market Dollar to Naira Rate Today
| Transaction Type | Rate |
|---|---|
| Buying Rate | ₦1,412 |
| Selling Rate | ₦1,425 |
Official Dollar to Naira Exchange Rate (CBN)
In the official market regulated by the Central Bank, the naira trades at relatively lower rates compared to the parallel market. Current data shows:
| Category | Rate |
|---|---|
| Highest Rate | ₦1,385 |
| Lowest Rate | ₦1,373 |
Important Notice
It is important to note that foreign exchange rates are highly volatile and may vary depending on location, demand, and transaction volume. As a result, the actual rate at which individuals buy or sell dollars may differ slightly from the figures published here.
