As of Saturday, June 22, 2025, the exchange rate for the U.S. dollar to the Nigerian naira in the Lagos Parallel Market, commonly known as the black market, remains volatile amid ongoing fluctuations in the foreign exchange landscape.
According to reliable sources at various Bureau De Change (BDC) outlets in Lagos, the black market buying rate for the U.S. dollar stands at ₦1,587, while the selling rate is pegged at ₦1,605 per dollar. This reflects the rates at which currency traders purchase and sell the dollar outside the official banking system.
Black Market (Aboki FX) Dollar to Naira Exchange Rate – June 22, 2025
• Buying Rate: ₦1,587
• Selling Rate: ₦1,605
However, it is important to highlight that the Central Bank of Nigeria (CBN) does not officially recognize or endorse the parallel market. The apex bank has repeatedly advised individuals and businesses seeking foreign exchange to do so through authorized channels, particularly commercial banks and licensed forex dealers.
CBN Official Dollar to Naira Rate – June 22, 2025
• Highest Rate: ₦1,552
• Lowest Rate: ₦1,545
While these are the official interbank rates, actual transaction rates may differ slightly depending on the bank, transaction volume, and prevailing market conditions. Similarly, rates at BDCs and in street-level trading can vary across cities and dealers.
Foreign exchange rates are highly sensitive and can change within hours. The rates provided above are for informational purposes and reflect averages gathered from major black market dealers and official CBN publications. Always verify current rates before proceeding with large transactions, and ensure you are transacting through safe and legal means.
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