The naira continues to face pressure against the United States dollar in the parallel market, with traders reporting a further decline in value.
According to data gathered from Bureau De Change (BDC) operators in Lagos and Abuja, the dollar is being sold at ₦1,500 and bought at ₦1,485 on Friday, October 10, 2025.
This represents a marginal depreciation from the previous day’s average rate of ₦1,495 to a dollar, indicating sustained demand for foreign exchange outside the official market window. 
Black Market (Parallel Market) Rates
Currency Pair (USD to NGN) Buying Rate Selling Rate
Dollar to Naira (Aboki FX rate) ₦1,485 ₦1,500
Official CBN Exchange Rate
Currency Pair (USD to NGN) Lowest Rate Highest Rate
Dollar to Naira (CBN rate) ₦1,445 ₦1,462
Important Note
The Central Bank of Nigeria (CBN) continues to warn against patronizing the parallel (black) market, stressing that it does not recognize such transactions. The apex bank advises individuals and businesses seeking foreign exchange to do so through official financial institutions or licensed banks.
However, many traders and importers still depend on the black market due to limited forex supply in the official window and delays associated with the CBN’s intervention mechanisms.
Market Insight
Currency analysts say the persistent pressure on the naira is being driven by increased demand for dollars to finance imports, settle foreign tuition payments, and meet travel obligations. The widening gap between the official and black market rates continues to influence inflation and import costs.
As of press time, market participants expect rates to remain volatile through the coming week, pending any new policy intervention from the CBN or improved forex liquidity in the banking system.
