According to information obtained from Bureau De Change (BDC) operators, the rates reflect continued pressure on the local currency as demand for dollars outpaces supply in the unofficial forex market.
However, the Central Bank of Nigeria (CBN) has reiterated that it does not recognize the parallel or black market, warning that individuals seeking foreign exchange should transact only through official banking channels.
At the official CBN window, the dollar exchanged for between ₦1,464 and ₦1,475 on the same day, indicating a significant gap between the regulated and black market rates.
Dollar to Naira Exchange Rates — Friday, October 17, 2025
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Black Market (Aboki FX) | 1,487 | 1,502 |
| CBN Official Rate | 1,464 | 1,475 |
Analysts say the widening gap between both markets continues to reflect Nigeria’s forex supply challenges and persistent demand from importers and travelers seeking dollars outside the official system.
Note: Forex rates may vary across locations and dealers.