Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate
Lagos‑area currency traders (the “Aboki” market) quoted the U.S. dollar at ₦1,625 to buy and ₦1,635 to sell on Sunday, 18 May 2025, according to Bureau‑de‑Change sources.

Note: The Central Bank of Nigeria (CBN) does not endorse or monitor the parallel market. Anyone with legitimate foreign‑exchange needs is expected to use their commercial bank.

Snapshot of Today’s Rates
Market Buy (₦) Sell (₦)
Black market 1,625 1,635
CBN official window* 1,597 (low) – 1,603 (high)
*The CBN window reflects rates seen on licensed platforms such as the Investors’ & Exporters’ (I&E) window. Figures move throughout the trading day.

Demand‑supply mismatch – Businesses and individuals often need dollars faster than banks can provide them, pushing traffic to roadside dealers.
Import‐driven economy – Nigeria relies heavily on imported goods, so importers hunt for dollars even when official allocations tighten.
Speculation and hoarding – When the naira weakens, some traders hold dollars hoping to sell at higher rates, amplifying scarcity.
Policy expectations – Announcements or rumours about CBN interventions, interest‑rate moves, or oil‑revenue swings can trigger abrupt swings in the parallel market.
Travel & tuition: Budget extra naira if you must source dollars outside the banking system.
Remittances: Friends or family sending money home may obtain better value using official remittance channels, where rates track the I&E window.
Businesses: Lock in forward contracts or explore CBN FX auctions if your cash‑flow exposure is large.
Investors: A widening spread between official and parallel rates often signals pressure on foreign‑exchange reserves and can influence equity and bond pricing.

Staying Updated
Black‑market prices change quickly—sometimes several times a day. Check:

Authorised dealer bulletins for official rates.
Credible financial‑news platforms for midday parallel‑market snapshots.
CBN press releases for policy moves that may narrow or widen the gap.
Rates quoted here serve as a guide only; the price you ultimately pay or receive may differ based on volume, timing, and location.

Dollar‑to‑Naira Exchange Rates (Friday, 16 May 2025)
Black‑Market (Lagos “Aboki”) Rates
According to several Bureau De Change (BDC) operators surveyed in Lagos:

Rate (₦)
Buying 1 USD = ₦1,622
Selling 1 USD = ₦1,635
These quotations reflect cash transactions on the informal, over‑the‑counter market and can shift by the hour as dealers respond to supply‑and‑demand pressures.

Official CBN Window
The Central Bank of Nigeria (CBN) publishes a daily reference band for authorised dealers:

Rate (₦)
Highest ₦1,603
Lowest ₦1,597
The CBN discourages the use of street trading for foreign exchange and advises individuals or businesses to route transactions through their banks.

Why the Two Markets Differ
Liquidity Constraints: Limited US‑dollar supply in formal channels nudges importers and travellers toward the black market, where premiums emerge.
Speculative Demand: Expectations of further naira weakening often push up “Aboki” prices ahead of official adjustments.
Policy Announcements: Any hint of tighter import controls or changes to fuel‑subsidiary rules sparks fresh demand for dollars as a hedge.
Remittances & Diaspora Flows: Seasonal spikes such as during summer holidays can momentarily ease black‑market rates if inflows rise.
Practical Tips for Forex Users
Compare Quotes in Real Time: Rates posted online may already be outdated; confirm with multiple dealers or your bank before transacting.
Watch CBN Circulars: The apex bank occasionally intervenes with special FX auctions that can narrow the gap between official and parallel markets.
Plan Large Payments Early: School fees or medical bills abroad can often be processed at the investors’ & exporters’ (I&E) window, which sits between official and street rates—but paperwork takes time.
Stay Within the Law: Carrying large sums of foreign currency without declaring it at ports of entry or exit violates CBN and customs regulations.

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Outlook
Analysts expect continued volatility in the short term. Monetary‑policy tightening has slowed but not reversed naira depreciation. If crude‑oil receipts improve or fresh external financing arrives, the pressure on parallel‑market premiums could ease. Conversely, any shortfall in export earnings is likely to keep black‑market quotes well above the CBN band.

Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate
As of Thursday, May 15, 2025, the exchange rate of the United States Dollar (USD) to the Nigerian Naira (NGN) in the Lagos parallel market, commonly referred to as the black market, stands as follows:

Buying Rate: ₦1,625 per $1
Selling Rate: ₦1,630 per $1
These rates were sourced from key operators within the Bureau De Change (BDC) segment of the market and may fluctuate depending on demand, location, and volume of the transaction.

Important Disclaimer from the Central Bank of Nigeria (CBN)
The Central Bank of Nigeria has repeatedly cautioned against the use of the parallel market for foreign exchange transactions. The apex bank maintains that the official forex market is the only recognized channel for buying and selling foreign currency. Individuals or businesses in need of foreign exchange are strongly advised to approach their respective commercial banks or authorized dealers.

Official CBN Exchange Rate – May 15, 2025
In contrast to the rates observed in the black market, the official rates published by the CBN on the same date are:

Highest Rate: ₦1,604 per $1
Lowest Rate: ₦1,597 per $1
These rates reflect the regulated interbank market and may differ from bank-to-bank or based on transaction purposes such as international payments, imports, and remittances.

It’s important to note that the foreign exchange rates quoted here are indicative and may not reflect the exact rates offered to individuals or businesses at any given moment. Factors such as the location of exchange, prevailing market conditions, transaction volume, and negotiations between parties can lead to slight variations.

Final Thoughts
As the Naira continues to fluctuate against the Dollar, both in the official and unofficial markets, it is crucial for individuals and businesses to monitor exchange rate trends closely. For the most accurate and up-to-date rates, always consult authorized BDC operators or your local bank.