The value of the Nigerian naira continued to fluctuate at the parallel foreign exchange market today, with traders in major Lagos markets reporting another shift in rates.
According to Bureau De Change (BDC) operators surveyed on Tuesday, December 9, 2025, the U.S. dollar is being sold at ₦1,495 per $1, while buyers offering dollars receive ₦1,480 per $1 at the Lagos black market, commonly referred to as the Aboki FX market.
Important Notice Regarding Forex Regulations
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognise transactions carried out at the parallel market. The apex bank repeatedly advises individuals, businesses, and investors seeking foreign exchange to do so through licensed financial institutions and commercial banks.
The CBN continues to emphasize that black market rates do not reflect the official value of the naira and should not be used for formal or commercial pricing.
Current Exchange Rates
Black Market (Parallel Market) Rate
| Type | Rate |
|---|---|
| Selling Rate | ₦1,495 |
| Buying Rate | ₦1,480 |
CBN Official Exchange Rate
| Type | Rate |
|---|---|
| Highest Rate Today | ₦1,457 |
| Lowest Rate Today | ₦1,450 |
Why the Rates Differ
Forex rates vary across Nigeria due to several factors, including:
- Demand and supply fluctuations
- Location-based pricing differences
- Restrictions on access to official foreign exchange
- Market speculation and economic uncertainties
As a result, the price an individual pays or receives when exchanging dollars may differ from the figures listed in this report.
Final Note
Exchange rates are highly volatile and can change multiple times within the same day. Individuals and businesses are advised to monitor the market closely, especially if planning international payments, travel, online purchases, or business transactions dependent on foreign currency.
