See rates below:

Dollars to Naira (USD to NGN)
Type Exchange Rate Today
Buying Rate (Black Market) ₦1450
Selling Rate (Black Market) ₦1460
Official CBN Rate ₦1439

Euro to Naira (EUR to NGN)
Type Exchange Rate Today
Buying Rate (Black Market) ₦1650
Selling Rate (Black Market) ₦1685
Official CBN Rate ₦1654

Pounds to Naira (GBP to NGN)
Type Exchange Rate Today
Buying Rate (Black Market) ₦1840
Selling Rate (Black Market) ₦1940
Official CBN Rate ₦1877

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.

The Central Bank of Nigeria (CBN) said Nigeria’s removal from the Financial Action Task Force (FATF) grey list will strengthen investor confidence, ease cross-border transactions and restore the country’s reputation as a credible financial jurisdiction.

In its statement by Mrs. Hakama Sidi Ali, Acting Director, Corporate Communications Department, CBN on Saturday, the Bank said the delisting will lower the cost of correspondent banking and international transactions, facilitate smoother trade and investment flows, and make Nigeria more attractive to foreign investors and development partners.

The CBN described the development as a significant milestone that will reduce perceived financial risk and support the nation’s broader efforts to deepen financial inclusion and economic growth.

The Bank added that Nigeria’s removal from the grey list will yield tangible benefits for businesses and households alike — lowering compliance costs, improving access to international finance, and making cross-border transactions faster and more affordable.

Over time, the CBN said, these gains should translate into smoother trade settlements, quicker remittance inflows and more predictable access to foreign exchange — measures that will enhance livelihoods, support enterprise growth and deepen financial inclusion.

The CBN said it played a central role in the process, noting that its contribution centred on enhancing supervision, governance and transparency across the financial system.

It explained that oversight of financial institutions was strengthened through updated anti-money laundering and counter-terrorism financing (AML/CFT) regulations, risk-based supervision and fit-and-proper assessments.

In addition, compliance reporting and monitoring were also expanded across remittance channels, bureaux de change and fintech platforms to improve traceability and transparency.

The Bank enhanced inter-agency data-sharing and enforcement coordination between itself, the Nigerian Financial Intelligence Unit (NFIU), the Economic and Financial Crimes Commission (EFCC) and other law enforcement bodies. The CBN also implemented market governance tools, including the Foreign Exchange Code (FX Code) and the Electronic Foreign Exchange Matching System (EFEMS), which further improved the integrity and transparency of the financial markets.

The Bank said these measures were implemented alongside legal and operational reforms undertaken by other competent authorities and were crucial in addressing the strategic deficiencies identified by FATF and its regional body, the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).

CBN Governor Olayemi Cardoso was quoted in the statement as praising the collective effort.

“This is an important achievement for Nigeria’s financial system. Our strengthened AML/CFT framework and closer supervisory engagement with financial institutions have helped restore confidence internationally,” the Governor said.

He added: “We remain committed to sustaining these reforms, deepening transparency, and working with domestic and international partners to prevent illicit financial flows and protect the integrity of our financial system.”

The CBN credited coordinated action across government institutions for the successful outcome, commending the NFIU for leading technical engagement with FATF, law enforcement agencies for enforcement work, and the Office of the Attorney-General and the National Assembly for the legislative amendments that enabled compliance with FATF requirements.

The Bank said it would not relent after the delisting. “Sustaining compliance with global AML/CFT standards is a continuous process,” the statement said, adding that the CBN will continue to work closely with AML/CFT competent authorities to ensure that the gains are consolidated and that Nigeria avoids any future reclassification.

The CBN also argued that the FATF decision reinforces a broader restoration of global confidence in Nigeria’s economic management. It pointed to recent international assessments that reflect improving external balances and credibility in policy execution — developments the Bank said are consistent with the momentum from the delisting.

The statement identified the constructive credit outlook from major rating agencies and the International Monetary Fund’s 2025 Article IV findings, which noted improved reserve adequacy, greater transparency and a reform agenda increasingly aligned with global standards.

The Bank urged all financial institutions to remain diligent and to sustain high standards of compliance, corporate governance and internal controls so the country can fully reap the benefits of delisting.

It stressed that improvements in correspondent banking relationships and reduced transaction frictions should translate into easier international trade payments and more predictable access to foreign financial services for exporters, importers and remitters.