The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continued to fluctuate in the parallel market on Monday, October 20, 2025, as the dollar traded as high as ₦1,500 to one dollar.
According to sources at the Lagos Parallel Market (Aboki FX), Bureau De Change (BDC) operators bought the dollar at ₦1,480 and sold it at ₦1,500. This represents a slight adjustment compared to previous rates, reflecting sustained demand for foreign currency in the informal market.
Meanwhile, the Central Bank of Nigeria (CBN) continues to maintain that it does not recognise the black market, urging Nigerians to carry out all foreign exchange transactions through official banking channels.
Dollar to Naira Black Market Rate (Aboki FX) — October 21, 2025
| Market Type | Buying Rate | Selling Rate |
|---|---|---|
| Black Market | ₦1,480 | ₦1,500 |
Official CBN Exchange Rate — October 21, 2025
| Source | Lowest Rate | Highest Rate |
|---|---|---|
| CBN | ₦1,464 | ₦1,470 |
It is important to note that forex rates vary slightly depending on location and trader, meaning the rates at which you buy or sell dollars may differ from the figures above.
Disclaimer: The Central Bank of Nigeria does not recognise parallel market rates and advises individuals seeking forex to approach licensed financial institutions.