As of Friday, July 18, 2025, the exchange rate between the US Dollar and the Nigerian Naira continues to highlight the gap between the official market and the black market (parallel market).
Black Market (Aboki FX) Rates
At the Lagos Parallel Market (Black Market), Bureau De Change (BDC) operators are:
| Dollar to Naira (USD to NGN) | Rate (₦) |
|---|---|
| Buying Rate | ₦1,530 |
| Selling Rate | ₦1,540 |
These figures are sourced from currency traders and may slightly vary based on location, demand, and individual negotiations.
Official CBN Rates
At the official exchange window regulated by the Central Bank of Nigeria (CBN), the rates are slightly more stable:
| Dollar to Naira (USD to NGN) | CBN Rate (₦) |
|---|---|
| Highest Rate | ₦1,536 |
| Lowest Rate | ₦1,528 |
These rates fluctuate within the official market depending on transaction volumes and other market dynamics.
CBN’s Position on Forex Transactions
The CBN has consistently warned against participating in black market transactions, emphasizing that it does not recognize or endorse rates from the parallel market. Nigerians are advised to process forex requests through commercial banks and other CBN-licensed financial institutions to ensure transparency and compliance with regulations.
Important Disclaimer on Exchange Rates
Exchange rates in Nigeria are highly volatile, influenced by market forces, policy changes, and global economic trends. The figures provided are accurate at the time of this report but may change without notice.
For the most reliable and current rates, individuals and businesses should consult their banks or authorized forex dealers.
