Economy
CBN sells $10,000 to BDC at N1,251/$1
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The Central Bank of Nigeria has issued a circular to Bureau De Change operators informing them of the sale of $10,000 to each BDC at a rate of N1,251/$1.
This was contained in a circular made available to PUNCH Online and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud, on Monday.
The apex bank directed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, implying that each BDC is not expected to sell above N1,269/$1.
The PUNCH reported that the CBN announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country in February.
This is coming more than two years after the former CBN Governor, Godwin Emefiele, stopped the sales of foreign exchange to BDC operators in that segment of the forex market.
The document read, “We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.
“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of not mora than 1.5 per cent above the purchase price.”
This confirms a resumption of the sale of dollars to BDC operators after a protracted period of ban by the central bank in 2021.
The United States Mint has released 250,000 $1 coins featuring the likeness of President Donald Trump to commemorate the country’s 250th anniversary.
The coins, released on Wednesday, are legal tender and have also entered circulation, meaning members of the public could receive them as change when making cash payments.
US Mint, in a post on its website, said the coin features a portrait of Trump designed by the United States Mint Chief Engraver, Joseph Menna, and inspired by an official White House photograph by Daniel Torok.
“The reverse (tails) design features the Presidential Seal, which shows an eagle holding an olive branch and a bundle of arrows, with a shield on its breast and a banner inscribed ‘E PLURIBUS UNUM’ in its beak.
“The shield contains the additional inscription ‘250’ to honor the Semiquincentennial of the United States. The additional inscriptions are ‘UNITED STATES OF AMERICA’ and ‘ONE DOLLAR.’
The coins have a gold-like finish but are made from non-precious metals. They are being minted in Philadelphia.
The Mint is selling the coins in rolls of 25 and bags of 100. A roll costs $61, while a bag costs $154.50.
Some special-issue coins were randomly included in the rolls and bags. According to the Mint, those coins bear a “July 4th” mark because they were struck on July 4, the anniversary of the Declaration of Independence.
The Mint said demand for the coins was high, with a virtual waiting room activated on Wednesday because of “extraordinarily high traffic” on its website.
Households were initially limited to two orders, although the Mint said the restriction would be lifted at 2 p.m. Eastern time on Thursday.
The release follows controversy over the depiction of a living president on US currency.
Federal law had previously prohibited living people from being depicted on US currency, but the Circulating Collectible Coin Redesign Act of 2020, signed by Trump during his first term, contained provisions allowing coins commemorating the country’s 250th anniversary.
Treasury Secretary Scott Bessent said the coin “celebrates the strength of American values, and the promise of a nation dedicated to preserving freedom for all.”
The Trump administration has also maintained that congressional approval was not required for the coin, citing a history of commemorative coins bearing the likeness of sitting presidents.
The US Mint has released other commemorative coins as part of the 250th-anniversary celebrations, including Revolutionary War Quarters, American Eagle Gold Coins and Enduring Liberty Half Dollars.
In June, 250,000 Semiquincentennial 2026 Declaration of Independence Quarters bearing a special “July 4th” mark were also released into circulation.
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Iran’s currency has suffered another historic collapse, with the rial plunging to more than 2.2 million against the US dollar amid renewed military strikes and escalating tensions in the Middle East.
The latest crash represents a fresh blow to Iran’s already battered economy as the conflict continues to put pressure on the country’s financial markets and businesses.
The rial has been under sustained pressure in recent weeks, with growing uncertainty over the country’s economic outlook, sanctions and the intensifying military confrontation contributing to the currency’s rapid decline.
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The latest exchange-rate movement means that $1 is now worth more than 2.2 million Iranian rials on the open market, highlighting the extraordinary deterioration in the currency’s purchasing power.
The plunge comes as US-Iran military hostilities enter another dangerous phase, with fresh strikes reported amid the wider confrontation surrounding the strategically vital Strait of Hormuz.
The economic impact of the escalating conflict is expected to extend beyond Iran, particularly as disruption around the Strait of Hormuz threatens global energy supplies and international trade.
For ordinary Iranians, the continued fall of the rial could translate into higher prices for imported goods, increased inflationary pressure and further erosion of household purchasing power.
The latest record low adds to mounting economic challenges facing Tehran as the country grapples with the combined impact of sanctions, military tensions and declining confidence in its currency.
With the rial now trading above the 2.2-million mark to the dollar, Iran’s currency crisis has entered another alarming phase as the military confrontation continues.
The Black Market Dollar-to-Naira Exchange Rate for 1st September 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
The exchange rate fluctuates hourly based on the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 1st September 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1405 and buy at ₦1390 on Monday, 1st September, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1405
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1343
Lowest Rate ₦1320
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