As of Thursday, June 12, 2025, the exchange rate for the US dollar against the Nigerian naira in the Lagos parallel market, commonly referred to as the black market, is as follows:
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Buying Rate: ₦1,580 per $1
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Selling Rate: ₦1,584 per $1
These figures are based on information obtained from traders within the Bureau De Change (BDC) community in Lagos.
Official CBN Dollar to Naira Rate
The Central Bank of Nigeria (CBN) maintains an official exchange rate that differs from the parallel market rate. For Thursday, June 12, 2025, the CBN’s dollar to naira rate is:
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Highest Rate: ₦1,546 per $1
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Lowest Rate: ₦1,538 per $1
It is important to highlight that the Central Bank does not officially recognize or endorse the black market for foreign exchange transactions. The CBN has consistently advised individuals and businesses to conduct all foreign currency transactions through authorized financial institutions, primarily deposit money banks.
Important Notice to Forex Buyers and Sellers
Please be aware that the exchange rates in the black market can vary slightly depending on location, demand, volume of the transaction, and the specific dealer involved. Therefore, the rates mentioned here should be considered indicative rather than absolute.
Whether you're buying or selling dollars, it's advisable to compare rates across multiple sources before proceeding, and ensure your transaction is done securely and legally.
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