The Naira continued to face pressure in the parallel market on Wednesday, October 22, 2025, as the U.S. dollar maintained strength against Nigeria’s local currency.
According to findings from Bureau De Change (BDC) operators in Lagos and other major cities, the dollar is being bought at ₦1,480 and sold at ₦1,490 in the black market (Aboki FX) today.
Meanwhile, at the official window, the dollar traded around ₦1,465/$1, showing only a slight variation from Tuesday’s figures.
The Central Bank of Nigeria (CBN) has repeatedly cautioned against patronizing the black market, emphasizing that it does not recognize parallel market transactions. The apex bank urges individuals and businesses seeking foreign exchange to use authorized dealers or commercial banks.
Analysts believe the persistent gap between the official and parallel market rates reflects ongoing foreign exchange scarcity and increased dollar demand from importers and travelers.
Dollar to Naira Exchange Rate – October 22, 2025
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Black Market (Aboki FX) | 1,480 | 1,490 |
| CBN Official Rate | — | 1,465 |
Note:
Rates may vary across different cities and dealers due to market forces and demand fluctuations. Always confirm rates before making foreign exchange transactions.