The naira continued to fluctuate at the parallel market on Saturday, August 23, 2025, as traders at the Lagos black market (popularly known as Aboki FX market) quoted the exchange rate at ₦1,555 per dollar for buying and ₦1,550 per dollar for selling, according to findings from Bureau De Change (BDC) operators.
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize transactions in the black market. The apex bank has repeatedly advised individuals and businesses seeking foreign exchange to make use of their commercial banks or other authorized dealers.
Dollar to Naira Black Market Rate Today
Transaction |
Black Market Rate |
|---|---|
Buying |
₦1,555 |
| Selling | ₦1,550 |
Dollar to Naira CBN Rate Today
| Transaction | CBN Rate |
|---|---|
| Highest | ₦1,536 |
| Lowest | ₦1,534 |
While the official CBN rate remains relatively stable, the gap between the parallel market and the official window continues to reflect the high demand pressure for the U.S. dollar outside regulated channels.
Analysts note that the difference in rates highlights the persistent challenges in Nigeria’s foreign exchange market, including rising import bills, demand for personal travel allowance (PTA) and business travel allowance (BTA), as well as speculative trading.
Forex rates vary depending on location, demand, and negotiation with dealers. The rates quoted here may differ from what is obtainable in other parts of the country at the same time.
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