By Prosper Olayiwola
The exchange rate between the U.S. dollar and the Nigerian naira continued to fluctuate across different markets on Monday, October 27, 2025, as traders and Bureau De Change (BDC) operators reported mixed prices.
At the Lagos Parallel Market, commonly referred to as the black market, one U.S. dollar was sold at ₦1,499 and bought at ₦1,485, according to traders interviewed early Monday. This reflects a slight adjustment from weekend figures, as market demand for the greenback remained strong amid limited supply. 
However, the Central Bank of Nigeria (CBN) has repeatedly emphasized that it does not recognize the parallel market, warning Nigerians against patronizing unregulated forex dealers. The apex bank maintains that all legitimate foreign exchange transactions should be carried out through authorized channels, particularly commercial banks, to ensure transparency and stability in the financial system.
Black Market (Aboki FX) Exchange Rate Today
Dollar to Naira (USD to NGN) Black Market Rate
Buying Rate ₦1,485
Selling Rate ₦1,499
Official CBN Exchange Rate Today
Dollar to Naira (USD to NGN) CBN Rate
Highest Rate ₦1,457
Lowest Rate ₦1,450
It is important to note that exchange rates may differ depending on location, volume of transaction, and demand dynamics at various trading points. Rates reported by independent sources or online platforms may also vary slightly from those published by official or regulated channels.
As Nigeria continues to grapple with inflationary pressures and declining foreign reserves, analysts say the exchange rate movement will remain one of the most closely watched indicators of economic stability in the weeks ahead.
