Economy
See Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate
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The Nigerian currency continued to experience fluctuations against the United States dollar in the parallel market (popularly called the black market), with Bureau De Change (BDC) operators in Lagos reporting new figures for today.
As of Saturday, September 27, 2025, the dollar is being sold at ₦1,505 and bought at ₦1,485 in the black market. These rates were confirmed by traders who operate in key exchange hubs within Lagos.
Official CBN Exchange Rate vs. Black Market
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market, warning Nigerians that foreign exchange transactions should strictly be carried out through authorized banks and official channels.
According to data released by the apex bank, the official exchange rate of the naira to the dollar today stands at:
Highest Rate: ₦1,487 per $1
Lowest Rate: ₦1,471 per $1
This highlights the wide gap between the regulated CBN rate and the unregulated parallel market rate, which continues to influence market sentiment.
Why the Black Market Rate Matters
Despite repeated warnings by the CBN, many Nigerians and businesses rely heavily on the parallel market because of limited access to forex through official banking channels. Importers, students studying abroad, and even travelers often turn to BDC operators to meet their foreign exchange needs, which in turn sustains demand at the black market.
The persistent difference between the black market and CBN rates remains a key driver of speculation, inflationary pressures, and overall instability in Nigeria’s currency market.
Key Takeaway
Black Market Rate (Lagos, Sept 27, 2025): ₦1,505 (selling) | ₦1,485 (buying)
CBN Official Rate: ₦1,487 (highest) | ₦1,471 (lowest)
Disclaimer: Exchange rates vary depending on location, demand, and individual BDC operators. The figures provided here represent market averages at the time of reporting and may differ slightly from what you encounter when buying or selling forex.
The Black Market Dollar-to-Naira Exchange Rate for 21st May 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.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 21st May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11399 and buy at ₦1386 on Thursday, 21st May, 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 ₦1399
Buying Rate ₦1386
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1374
Lowest Rate ₦1372
Disclaimer:NEWSRAIN NIGERIA does not set or determine forex rates.
The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
The Central Bank of Nigeria (CBN) on Wednesday retained its benchmark interest rate at 26.5 percent following the conclusion of its two-day Monetary Policy Committee (MPC) meeting, a decision largely anticipated by analysts who expected policymakers to maintain the status quo.
CBN Governor Olayemi Cardoso said the committee decided to keep rates unchanged amid caution over global shocks, particularly uncertainties stemming from developments in the United States and the ongoing conflict in the Middle East.
The decision highlights the MPC’s cautious stance as policymakers seek to balance the need to rein in inflationary pressures and anchor market expectations while sustaining economic recovery.
Data from the National Bureau of Statistics (NBS) showed that Nigeria’s headline inflation rate continued its upward trend in April 2026, rising by 31 basis points to 15.69 percent year-on-year from 15.38 percent recorded in March.
The latest increase marks the second consecutive monthly rise in headline inflation, reversing the disinflationary trend that had persisted for 11 months and pushed inflation down from 34.8 percent in late 2024 to 15.06 percent in February 2026.
“While prevailing inflationary risks may justify a cautious policy posture by the MPC, the CPPE strongly urges the monetary authorities to avoid excessive reliance on monetary policy orthodoxy in managing what is fundamentally a structurally-driven inflation environment,” said Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise.
Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)
The Black Market Dollar-to-Naira Exchange Rate for 20th May 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.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 20th May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11400 and buy at ₦1385 on Wednesday, 20th May, 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 ₦1400
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1374
Lowest Rate ₦1370
Disclaimer:NEWSRAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
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