Economy
See Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate
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 20th April 2026 Can Be Accessed Below.
IMPORTANT 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, 20th April 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Monday 20th April, 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 ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1348
Lowest Rate ₦1340
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) in collaboration with the Financial Markets Dealers Association (FMDA) has introduced the Nigerian Overnight Financing Rate (NOFR).
The new initiative is a standardized benchmark, aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s money market.
The introduction of the NOFR was made known in a statement issued on Sunday by the Director, Corporate Communications of the CBN, Mrs. Hakama Sidi Ali.
The apex bank explained that the NOFR was developed to align Nigeria with global best practices in short-term interest
rate benchmarks.
Moreover, it said the initiative is expected to improve price discovery and transparency, while promoting consistent pricing of money market instruments.
“It will enhance the effectiveness of monetary policy, support financial innovation, boost investor confidence, and strengthen risk management across the financial system,” the CBN said.
The introduction of NOFR positions Nigeria alongside leading global benchmarks such as SOFR in the United States, SONIA in the United Kingdom, €STR in the Eurozone, and TONA in Japan.
Also, it complements African benchmarks such as the JIBAR in South Africa.
The CBN added that the benchmark was adopted after a stakeholder engagement session held on February 27, 2026, with market participants formally endorsing the initiative.
It further disclosed that following the subsequent regulatory approval, NOFR is now in use, with the CBN serving as the benchmark administrator.
“The bank will ensure governance, transparency, and regular publication of the rate,” the statement stated.
The Nigerian naira depreciated slightly against the United States (US) dollar, trading at N1,343.6398 per dollar at the Central Bank of Nigeria (CBN) official foreign exchange window on Friday, 17th April, 2026.
According to the data on the CBN’s official platform, the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,343.6398/$per dollar and closed at N1,342.5000 per dollar.
When compared with the previous trading rate, the Nigerian currency traded at N1342.3037 on 16th April, 2026. With this, the Nigerian currency depreciated slightly by a minimum of N1.3.
At the parallel market, the naira-to-dollar exchange rate for the buying rate didn’t change while the selling rate increased by N3 when compared to that of the previous trading rate.
According to Aboki FX , the Naira-to-dollar exchange rate at the black market on Friday, 17th April, 2026, was N1,395 and N1,405 per dollar for buying and selling rate respectively.
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