The United States Dollar exchanged at ₦1,425 for selling and ₦1,412 for buying at the Lagos parallel market, popularly known as the black market or Aboki FX, on Thursday, July 16, 2026.
According to Bureau De Change (BDC) sources, the latest rates reflect continued activity in Nigeria's parallel foreign exchange market, where traders buy and sell currencies outside the official banking system.
Dollar to Naira Black Market Rate Today (July 16, 2026)
| Currency Pair | Buying Rate | Selling Rate |
|---|---|---|
| USD/NGN | ₦1,412 | ₦1,425 |
CBN Dollar to Naira Official Exchange Rate
The Central Bank of Nigeria (CBN) official exchange rate for the US dollar stood within the following range:
- Highest Rate: ₦1,384 per US Dollar
- Lowest Rate: ₦1,379 per US Dollar
The apex bank has consistently stated that it does not recognize the parallel (black) market as an official foreign exchange window. Instead, the CBN has advised individuals and businesses seeking foreign exchange to conduct their transactions through authorized banks and licensed financial institutions.
Foreign exchange rates in the parallel market may vary depending on location, market demand, transaction volume, and individual Bureau De Change operators. As a result, the rates available at the point of exchange may differ slightly from those quoted in this report.
Traders and businesses are therefore advised to confirm prevailing exchange rates before completing any foreign exchange transactions.