The Nigerian naira remained under pressure in the parallel foreign exchange market on Sunday, July 12, 2026, as the United States dollar exchanged for ₦1,425 on the black market, popularly known as the Aboki FX market.
According to Bureau De Change (BDC) sources in Lagos, the buying rate stood at ₦1,410 per dollar, while the selling rate was ₦1,425.
Black Market Dollar to Naira Exchange Rate – July 12, 2026
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | ₦1,410 | ₦1,425 |
CBN Official Dollar to Naira Rate
The official exchange rate published by the Central Bank of Nigeria (CBN) showed:
| Currency | Highest Rate | Lowest Rate |
|---|---|---|
| US Dollar (USD) | ₦1,382 | ₦1,375 |
The Central Bank of Nigeria (CBN) has consistently maintained that it does not recognize the parallel (black) market for foreign exchange transactions. The apex bank advises individuals and businesses seeking foreign exchange to use authorized commercial banks and other licensed financial institutions.
It is important to note that exchange rates in the parallel market are subject to frequent fluctuations and may vary depending on location, transaction volume, and the dealer involved.
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