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SEE Today’s Black Market Dollar To Naira Exchange Rate – 5th February 2025

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By Kayode Sanni-Arewa

Black Market Dollar to Naira Exchange Rate – 5th February 2025

What is the current Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki FX)?

Check out the latest black market exchange rate for the Dollar to Naira as of 4th February 2025 below. You can exchange your dollars for naira at these rates..

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How much is 1 USD to NGN in the black market today?

According to sources from Bureau De Change (BDC), the exchange rate at the Lagos Parallel Market (Black Market) on Tuesday, 4th February 2025, is as follows:

Buying Rate: N1,595 per dollar
Selling Rate: N1,605 per dollar
CBN Exchange Rate for Dollar to Naira Today

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) for forex transactions. The CBN has advised individuals and businesses to conduct foreign exchange transactions through their respective banks.

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Here are the official CBN rates for 4th February 2025:

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) for forex transactions. The CBN has advised individuals and businesses to conduct foreign exchange transactions through their respective banks.

Here are the official CBN rates for 4th February 2025:

Highest Rate: N1,502 per dollar
Lowest Rate: N1,494 per dollar
Disclaimer: The exchange rates mentioned above may differ from the actual rates at which forex is bought or sold, as prices fluctuate frequently.

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BREAKING: Finally, Power Minister, Adelabu resigns from Tinubu’s cabinet

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Finally, Minister of Power Adebayo Adelabu has resigned from President Bola Tinubu’s cabinet.

In a resignation letter dated April 22, 2026, and addressed to President Bola Tinubu, Adelabu said the decision would take effect from April 30, 2026, to allow for a smooth transition.

The letter, routed through the Office of the Secretary to the Government of the Federation, stated that he was stepping down with “a deep sense of honour and profound gratitude.”

He wrote, “I write with a deep sense of honour and profound gratitude to formally tender my resignation as the Honourable Minister of Power of the Federal Republic of Nigeria. This resignation is to take effect on 30th April 2026, in order to allow sufficient time for a smooth and orderly handover of responsibilities.”

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Adelabu thanked the President for the opportunity to serve, describing his appointment as a privilege.

He said, “Your Excellency, I remain sincerely grateful for the privilege and confidence you reposed in me by appointing me to serve our great nation in this capacity.

It has been a rare honour to contribute to national development under your leadership and to play a role in advancing reforms in the power sector—one of the most critical foundations of Nigeria’s industrial growth and economic transformation.”

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Reps Begin Review of Police Trust Fund Law, Tighten Timeline for Committee Work

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By Gloria Ikibah

As part of efforts to strengthen the country’s security architecture, President Bola Tinubu, has sent a formal communication to the House of Representatives on seeking legislative approval for the repeal and re-enactment of the Nigerian Police Trust Fund (NPTF) Establishment Act, 2025.

The request which was transmitted to the House for consideration and passage on Wednesday at plenary, underscores the need to improve the management and administration of the fund, enhance police training, and provide modern equipment for the Nigeria Police Force.

According to the letter,, the proposed amendment is aimed at boosting the operational capacity, accountability, and sustainability of the Police Trust Fund in line with current security challenges.

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The President urged lawmakers to give the bill expeditious consideration, as the said the reform will improve the welfare of police personnel and support skill development across the force.

In another development,  the House Committee on Rules and Business has moved to tighten legislative discipline, directing all standing and ad hoc committees to submit reports on bills and motions within set timelines in line with House procedures.

Chairman of the committee, Rep. Francis Uwaive, reminded all committee chairmen to treat all assigned matters within 30 days, with the risk of losing such assignments after 60 days if no progress is made, except where a short extension is granted.

A firm deadline has also been set for all outstanding reports, with the end of April 2026 as the cut-off point, and non-compliance attracting automatic discharge.

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Amid the formal proceedings, lawmakers briefly paused to celebrate two members marking their birthdays, acknowledging their contributions to public service and national development.

The mood later shifted as the House paid tribute to a former member of the Fifth Assembly, observing a minute’s silence in his honour following his passing after a prolonged illness.

He was remembered for his dedication and service to his constituents in Benue State, with colleagues noting that his death represents a significant loss to the legislature and the country.

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Iran Seizes Two Ships attempting to cross Strait of Hormuz

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Iran’s Revolutionary Guards said on Wednesday that their naval forces stopped two ships attempting to cross the Strait of Hormuz and directed them to the territorial waters of the Islamic Republic.

“The Islamic Revolutionary Guard Corps naval force this morning identified and stopped in the Strait of Hormuz two violating ships,” the Guards said in a statement.

“The two offending ships… were seized by the IRGC’s naval forces and directed to the Iranian coast.”

They identified one ship as “MSC-FRANCESCA”, which they said belonged “to the Zionist regime” in reference to Israel, and the other as “EPAMINONDAS”, which they said was “tampering with navigation systems and jeopardising maritime security.”

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The Guards further warned against any action against the regulations imposed by the Islamic republic in the strait “as well as activities contrary to the safe passage” through the waterway.

Tehran has said vessels must seek permission to leave of enter the Gulf through Hormuz, through a route that in peacetime accounts for a fifth of the world’s oil and gas exports along with other vital commodities.

Source: AFP

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