NaijaBlog reports that the exchange rate between the Naira and the US Dollar today, Saturday, September 13, 2025, has been released. Below are the official, parallel market (black market), and Bureau De Change (BDC) rates.

Official CBN Rate

According to figures published on the Central Bank of Nigeria’s (CBN) forex trading portal, the Naira traded at ₦1,501.49 per $1 on Friday, September 12, 2025, slightly strengthening from ₦1,502.13 per $1 recorded on Thursday, September 11, 2025.

Black Market Rate

However, checks across the parallel market show that the Naira is trading as high as ₦1,533 per $1, despite the CBN’s unification of all forex windows.

Background on FX Unification

It will be recalled that on June 14, 2023, the Central Bank announced a major policy shift, collapsing all FX windows into the Investors and Exporters (I&E) window.

The apex bank introduced key reforms including:

  • Abolishment of segmentation of the FX market.

  • Adoption of the “Willing Buyer, Willing Seller” model.

  • Use of weighted average rates from the previous day’s I&E transactions for government dealings.

  • Removal of trading limits on oversold positions, with hedging allowed via OTC futures.

  • Re-introduction of order-based two-way quotes and order book transparency.

  • Trading hours fixed between 9 a.m. and 4 p.m. daily.

These reforms effectively allowed the Naira to float freely, with market forces now determining its exchange rate.

Disclaimer

NaijaBlog does not set or determine forex rates. The official NAFEX rates are obtained from the FMDQOTC website, while black market rates are sourced from multiple outlets. Rates may vary depending on your location and the source from which you buy or sell forex.