The Nigerian naira continues to face pressure in the foreign exchange market as the value of the local currency weakened slightly against the U.S. dollar in the parallel (black) market.
According to information gathered from Bureau De Change (BDC) operators in Lagos on Monday, September 1, 2025, the exchange rate stood at ₦1,540 per dollar for buying and ₦1,524 per dollar for selling. This shows a marginal disparity when compared to the official window.
Meanwhile, at the official market regulated by the Central Bank of Nigeria (CBN), the dollar traded within the band of ₦1,531 (highest) and ₦1,527 (lowest).
The apex bank has repeatedly warned Nigerians against patronizing the black market, stressing that it does not recognize transactions conducted outside authorized financial institutions. The CBN has urged individuals and businesses seeking foreign exchange for personal or business needs to approach their respective banks or licensed forex dealers.
Dollar to Naira Black Market Rate
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Buying: ₦1,540/$
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Selling: ₦1,524/$
Dollar to Naira CBN Rate
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Highest: ₦1,531/$
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Lowest: ₦1,527/$
It is important to note that exchange rates often vary depending on the location, demand, and volume of transactions. This means that the rate at which you buy or sell foreign currency may differ from the figures reported above.
The persistent gap between the black market and official market rates reflects Nigeria’s ongoing foreign exchange challenges, driven largely by strong demand for dollars, reduced inflows, and speculative trading.
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