The naira continues to witness volatility in the foreign exchange market, with many Nigerians closely monitoring the dollar to naira rate at both the official and parallel markets.
At the Lagos Parallel Market, popularly known as the black market or Aboki FX, the U.S. dollar traded at ₦1,522 for buying and ₦1,506 for selling on Tuesday, September 16, 2025, according to sources from the Bureau De Change (BDC).
Latest updates also indicate the following black market rates:
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Buying Rate: ₦1,525
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Selling Rate: ₦1,515
In contrast, the Central Bank of Nigeria (CBN) maintains that the parallel market is not an official channel and continues to advise individuals and businesses to source forex through licensed banks.
As of today, the official CBN rates stand between:
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Highest Rate: ₦1,502
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Lowest Rate: ₦1,492
It is worth noting that forex rates vary across locations and depend on prevailing demand and supply in the market.
