As of Saturday, July 19, 2025, the exchange rate of the United States Dollar (USD) to Nigerian Naira (NGN) in the Lagos parallel market commonly referred to as the black market stands at ₦1530 for buying and ₦1540 for selling, based on information gathered from Bureau De Change (BDC) operators.
This means that if you're selling dollars in the black market, you can expect to receive around ₦1530 per dollar, while those looking to buy will likely pay up to ₦1540 per dollar.
Important Advisory:
It is crucial to understand that the Central Bank of Nigeria (CBN) does not officially recognize the black market for foreign exchange transactions. The apex bank has consistently urged individuals and businesses to carry out forex transactions through licensed financial institutions, primarily commercial banks. The CBN’s goal is to ensure transparency, stability, and accountability in the foreign exchange market.
Exchange Rates Overview
Black Market (Parallel Market) Rates
| Transaction Type | Rate (₦/USD) |
|---|---|
| Buying Rate | ₦1530 |
| Selling Rate | ₦1540 |
Central Bank of Nigeria (CBN) Official Rates
| Indicator | Rate (₦/USD) |
|---|---|
| Highest Rate | ₦1536 |
| Lowest Rate | ₦1528 |
Foreign exchange rates are highly volatile and subject to change at any time based on market demand, supply dynamics, and regulatory actions. The rates stated above reflect averages reported by sources within the Lagos forex market as of the time of publication. Actual rates at which forex is bought or sold may differ depending on location, negotiation, or the particular dealer.
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