As of Saturday, 5th July 2025, the exchange rate of the US dollar to the Nigerian naira at the Lagos parallel market commonly called the black market or “Aboki rate” shows that currency traders are buying dollars at ₦1540 and selling at ₦1555, based on information gathered from Bureau De Change (BDC) operators.
Important Notice
The Central Bank of Nigeria (CBN) does not officially recognize the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to use authorized channels, specifically by approaching their banks for all forex transactions. The CBN aims to curb the volatility and speculation associated with the black market.
| Description | Exchange Rate (₦) |
|---|---|
| Buying Rate | ₦1540 |
| Selling Rate | ₦1555 |
Central Bank of Nigeria (CBN) Official Dollar to Naira Rate
For comparison, here are the official rates provided by the Central Bank of Nigeria today:
| Description | Exchange Rate (₦) |
|---|---|
| Highest Rate | ₦1530 |
| Lowest Rate | ₦1526 |
Exchange rates can fluctuate frequently due to market dynamics. The rates at which you buy or sell foreign currency may differ from those listed here, depending on your location, the negotiation with the dealer, and other factors. It’s advisable to confirm current rates before completing any foreign exchange transactions.
Additional Context
The difference between the official CBN rate and the black market rate reflects ongoing pressures on Nigeria’s foreign exchange market. High demand for dollars, limited supply, and concerns about economic stability continue to drive a thriving parallel market despite government efforts to unify rates and reduce arbitrage.
Individuals and businesses often turn to the black market to meet urgent or unmet forex needs, but this practice also contributes to currency depreciation. The CBN regularly intervenes in the official market, setting policy measures to stabilize the naira and ensure greater transparency.
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