By Kayode Sanni-Arewa
-As of January 3, 2025, the Nigerian Naira (NGN) has continued to experience some level of volatility against the US Dollar (USD), while this has been the norm for decades now, this largely to some extent reflects the ongoing economic challenges.
See the Naira performance across various currencies 
A quick check at the parallel market at Abuja Zone 4 market,as at January 3, 2025 , the black market exchange rate stands firmly at approximately ₦1,660 per USD. This means if you want to buy a dollar now, it is ₦1,660 while if you want to sell it is approximately ₦1,640.
Please be aware that the parallel market or the black market rates are mostly and notably higher compared with what you get from the official market or CBN rate
For individuals and businesses that often or solemnly engaged in currency exchange or international trade, we have peomised to keep you all updated because staying informed about these fluctuations and daily changes is crucial for business.
Please be rest assured that our sources remain reliable and dependable as we remain committed to providing real-time data to help you make informed financial decisions in your everyday transaction.
Over the past year, the Naira has been on a free fall. This continue decline has been attributed to several factors, obe of such factors is the fluctuating oil prices which the Nigerian Government depend on, other factor are inflation, huge debt services and declining foreign exchange reserves.
The huge disparity between official market or CBN rate and the rate gotten at black market underscores the underlying complexities within Nigeria’s foreign exchange landscape.
