According to information obtained from Bureau De Change (BDC) operators, the exchange rate reflects sustained demand pressure from importers and individuals seeking foreign currency for travel and business transactions outside the official window.
However, the Central Bank of Nigeria (CBN) has repeatedly emphasized that it does not recognize the black marketas an official exchange channel. The apex bank continues to advise Nigerians to conduct all foreign exchange transactions through authorized financial institutions and commercial banks.
Dollar to Naira Exchange Rates — Saturday, October 11, 2025
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Black Market (Aboki FX) | 1,485 | 1,500 |
| CBN Official Window | 1,445 (Lowest) | 1,462 (Highest) |
Analysts note that the widening gap between the official and parallel market rates reflects ongoing volatility in Nigeria’s foreign exchange market, driven by persistent dollar shortages and speculative trading.
It is important to note that forex rates may vary depending on location and market demand, and prices recorded in this report represent average figures across major BDC hubs in Lagos.
