As of Saturday, June 21, 2025, the exchange rate between the US dollar and the Nigerian naira in the Lagos parallel market (black market) remains volatile amid ongoing economic uncertainty.
According to reliable sources at various Bureau De Change (BDC) outlets in Lagos, the buying rate for 1 USD stands at ₦1,587, while the selling rate is pegged at ₦1,605. This indicates a continued depreciation of the naira in the informal currency exchange sector, despite recent interventions by the Central Bank of Nigeria (CBN).
Black Market Dollar to Naira Rates (June 21, 2025)
| Exchange Type | Rate (₦) |
|---|---|
| Buying Rate | ₦1,587 |
| Selling Rate | ₦1,605 |
Disclaimer: Rates at the black market can vary significantly depending on demand, location, and transaction volume. Always confirm with your local exchange dealer.
CBN Official Dollar to Naira Rates (June 21, 2025)
While the black market continues to operate outside regulatory oversight, the Central Bank of Nigeria (CBN) maintains its official foreign exchange window with relatively more stable rates.
According to the CBN:
-
Highest rate: ₦1,552/USD
-
Lowest rate: ₦1,545/USD
Important Notice
The CBN does not recognize or endorse the black market as a legitimate source of foreign exchange. Individuals and businesses seeking to access foreign currencies are encouraged to use official banking channels and authorized dealers to avoid exploitation and ensure regulatory compliance.
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