Naija Blog brings you the official and black market exchange rates for the Dollar to Naira today, Thursday, September 25, 2025.

Official CBN Rate

According to data released by the Central Bank of Nigeria (CBN) on its forex trading portal, the naira traded at ₦1,488.56 per dollar on Wednesday, September 24, 2025, compared to ₦1,487.36 per dollar on Tuesday, September 23, 2025.

Black Market Rate

On the parallel (black) market, however, the Naira is exchanging as high as ₦1,515 per dollar, despite the CBN’s announcement of a unified foreign exchange market.

The CBN had, in a circular dated June 14, 2023, announced the collapse of all FX windows into the Investors and Exporters (I&E) window, introducing the “Willing Buyer, Willing Seller” model to guide forex transactions.

The reforms also included:

  • Abolishment of segmentation of forex markets.

  • Order-based two-way quotes with a bid-ask spread of ₦1.

  • Removal of trading limits on oversold FX positions, with permission to hedge via OTC futures.

  • Reintroduction of an Order Book to ensure transparency and seamless execution of trades.

These changes effectively allowed the naira to float freely, with rates now determined largely by market forces.

Summary for Today (25 September 2025):

  • Official CBN Rate: ₦1,488.56/$1

  • Black Market Rate: ₦1,515/$1

Disclaimer: Naija Blog does not set or determine forex rates. The official NAFEX rates are sourced from the FMDQOTC website, while black market rates are gathered from multiple verified sources. Rates may vary depending on where you buy or sell forex.