As of Tuesday, July 8, 2025, the exchange rate for the United States dollar (USD) to Nigerian naira (NGN) in the Lagos parallel market commonly called the black market or Aboki rate shows that traders are buying dollars at ₦1540 and selling at ₦1555 per USD. These rates are based on information gathered from local Bureau De Change (BDC) operators in Lagos.
It is important to understand that the Central Bank of Nigeria (CBN) does not officially recognize or endorse transactions in the parallel market. The apex bank has repeatedly advised individuals and businesses seeking foreign exchange to do so through licensed banks and authorized dealers to ensure transparency and stability in the FX market.
Detailed Parallel Market (Black Market) Rates:
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Buying Rate: ₦1540 per USD
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Selling Rate: ₦1555 per USD
Official CBN Dollar to Naira Rate Today:
According to the CBN’s published rates for Tuesday, the official exchange rate ranges from ₦1520 to ₦1531 per dollar. This rate is typically available to approved users and businesses through banks and other authorized channels.
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Lowest Official Rate: ₦1520 per USD
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Highest Official Rate: ₦1531 per USD
It is worth noting that exchange rates can fluctuate significantly between the official and parallel markets due to factors such as demand, supply constraints, and regulatory interventions. Therefore, the actual rate you encounter when buying or selling forex may differ from these indicative values, especially depending on your location and the specific dealer you transact with.
For anyone needing foreign exchange, the CBN continues to emphasize the importance of using formal banking channels to avoid risks associated with unregulated markets and to help stabilize the naira in the long run.
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