The Nigerian naira continued to trade under pressure in the parallel market on Tuesday, August 26, 2025, with Bureau De Change (BDC) operators in Lagos quoting the dollar at ₦1,538 for purchase and ₦1,528 for sale.
The rates, often referred to as the black market or Aboki dollar rate, remain slightly different from the official Central Bank of Nigeria (CBN) exchange figures.
At the CBN’s official window, the dollar exchanged between ₦1,535 and ₦1,537, reflecting a narrower spread compared to parallel market trading.
| Dollar to Naira (USD/NGN) | Rate |
|---|---|
| Black Market Buying | ₦1,538 |
| Black Market Selling | ₦1,528 |
| CBN Highest Rate | ₦1,537 |
| CBN Lowest Rate | ₦1,535 |
CBN’s Position on the Parallel Market
The Central Bank has repeatedly stressed that it does not recognize black market transactions, urging individuals and businesses seeking foreign exchange to conduct transactions through official banking channels.
Despite the warning, many Nigerians continue to rely on the parallel market for quicker access to dollars, citing delays, documentation bottlenecks, and limited supply in official banks.
Market Realities
Traders explained that the variation in rates is influenced by demand pressures from importers, students paying tuition abroad, and travelers in need of foreign exchange. The actual rate at which buyers and sellers close transactions may also vary depending on location, volume of trade, and time of the day.
With inflationary pressure still mounting and businesses struggling to source forex officially, analysts predict that the naira may continue to face volatility in both the black market and the official window in the coming weeks.
Post a Comment