The U.S. dollar traded at an average of ₦1,579 for buying and ₦1,585 for selling in the Lagos black market on Saturday, June 14, 2025. These figures are based on updates from sources within the Bureau De Change (BDC) community.
It's important to note that this rate applies specifically to the parallel market, commonly referred to as the black market, and may differ from rates at official institutions.
CBN Stance on Black Market Transactions
The Central Bank of Nigeria (CBN) does not endorse or recognize the black market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to do so through official banking channels. According to the CBN, approaching registered financial institutions remains the only legitimate route for foreign exchange dealings.
Summary of Dollar to Naira Exchange Rates
Black Market Rates (Lagos)
| Type | Rate (₦) |
|---|---|
| Buying | 1,579 |
| Selling | 1,585 |
CBN Official Rates
| Type | Rate (₦) |
|---|---|
| Highest Rate | 1,570 |
| Lowest Rate | 1,537 |
Please be aware that exchange rates vary based on location, transaction size, and demand. Rates listed here are for reference only and may differ from the actual rates offered by dealers at the time of your transaction.
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