The naira continued to fluctuate against the United States dollar in the parallel market on Thursday, October 23, 2025, as traders at the Lagos black market sold the greenback for ₦1,499 and bought it at ₦1,475, according to reports gathered from Bureau De Change (BDC) operators.
These figures indicate that the local currency remains under pressure as demand for foreign exchange continues to outstrip supply, particularly among importers and individuals unable to access official channels.
Black Market (Aboki FX) Dollar to Naira Rate Today
| Market Type | Buying Rate | Selling Rate |
|---|---|---|
| Black Market (Aboki FX) | ₦1,475 | ₦1,499 |
CBN Official Dollar to Naira Rate
At the official window, the Central Bank of Nigeria (CBN) recorded an exchange range between ₦1,458 and ₦1,464 per dollar. The CBN continues to emphasize that it does not recognize or endorse the black market for foreign exchange transactions, urging individuals and businesses to conduct all forex dealings through licensed financial institutions.
| Source | Lowest Rate | Highest Rate |
|---|---|---|
| CBN Official Rate | ₦1,458 | ₦1,464 |
Important Notice
Exchange rates across Nigeria may vary slightly depending on the city, volume of transaction, and the dealer involved. Individuals are therefore advised to confirm rates before engaging in any currency exchange transaction.
Market Outlook
Experts believe the naira’s continued weakness in the black market is linked to limited dollar liquidity, rising import costs, and persistent inflationary pressures. Analysts also suggest that upcoming fiscal policies or fresh interventions by the CBN could influence the exchange rate trajectory in the coming weeks.
