The exchange rate between the United States dollar and the Nigerian naira continues to draw attention from traders, businesses, and individuals monitoring the foreign exchange market.
Black Market (Parallel Market) Rate
At the Lagos Parallel Market, commonly known as the black market, Bureau De Change (BDC) operators say the U.S. dollar is being sold for ₦1380 and bought for ₦1360 as of Wednesday, March 4, 2026.
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1360 |
| Selling Rate | ₦1380 |
CBN Official Rate
According to available data from the Central Bank of Nigeria, the official exchange rate for the naira against the U.S. dollar recorded the following range:
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1400 |
| Lowest Rate | ₦1382 |
The Central Bank of Nigeria has repeatedly stated that it does not recognize the parallel market, warning that individuals seeking foreign exchange should conduct such transactions through their respective banks and authorized financial institutions.
Important Note
Exchange rates in the foreign exchange market can fluctuate throughout the day depending on supply, demand, and market conditions. As a result, the rate at which individuals buy or sell dollars may differ slightly from the figures listed above.
