As of Saturday, July 26, 2025, the exchange rate for the United States dollar (USD) to the Nigerian naira (NGN) in the Lagos parallel market, commonly referred to as the black market, remains volatile.
According to information gathered from Bureau De Change (BDC) operators, popularly known as “Aboki” traders, the dollar is being purchased at ₦1,540 and sold for ₦1,545.
Important Notice on Black Market Transactions
The Central Bank of Nigeria (CBN) has consistently maintained its stance against the use of the black market for foreign exchange transactions. The apex bank emphasizes that the official and legitimate avenue for accessing forex remains through recognized financial institutions such as commercial banks. Nigerians are therefore advised to conduct all currency exchange dealings through regulated channels to avoid risks and ensure transparency.
Current Exchange Rates
Black Market (Lagos Parallel Market) Rates:
| Transaction Type | Rate (₦) |
|---|---|
| Buying | ₦1,540 |
| Selling | ₦1,545 |
Official CBN Rates:
| Type | Rate (₦) |
|---|---|
| Highest Rate | ₦1,536 |
| Lowest Rate | ₦1,534 |
Note to Forex Buyers and Sellers
It is important to recognize that exchange rates may differ slightly depending on the location, demand, and negotiation power of buyers and sellers. While this article provides an average benchmark for today’s trading rates, actual market prices can vary.
Whether you're planning to exchange currency for travel, international trade, or remittances, always compare both the official and parallel market rates to make informed decisions. However, for long-term financial security, using government-approved channels is strongly encouraged.
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