Black Market Dollar to Naira Exchange Rate for March 17, 2025
Are you looking for the latest Dollar to Naira exchange rate in the parallel market (Aboki FX)? Here’s what you need to know.

Current Black Market Exchange Rate (March 17, 2025)
The exchange rate at the Lagos Parallel Market (Black Market) sees players buying a dollar at ₦1575 and selling at ₦1585, according to sources within the Bureau De Change (BDC).

Note: The Central Bank of Nigeria (CBN) does not officially recognize the black market. Individuals seeking foreign exchange are advised to approach their respective banks for transactions.

Black Market Exchange Rate Today
Dollar to Naira (USD to NGN) Black Market Rate
Buying Rate ₦1575
Selling Rate ₦1585
CBN Official Dollar to Naira Rate
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1552
Lowest Rate ₦1512
Disclaimer: Forex rates fluctuate, and the price you buy or sell at may vary from what is captured in this report.

SEC Suspends Centurion Registrars from Capital Market
In a related development, the Securities and Exchange Commission (SEC) has announced the suspension of Centurion Registrars Limited, including its directors and affiliates, from participating in the capital market.

According to a statement titled “Additional Enforcement Measures on Erring Capital Market Operators”, the SEC emphasized that this action is part of a broader initiative in 2025 aimed at eliminating illegal capital market operations.

Affected clients of Centurion Registrars have been advised to contact Africa Prudential Plc for further assistance.

The SEC also revealed plans to publish a “Name and Shame” journal, listing capital market operators who violate market regulations. This move underscores the commission’s firm stance against non-compliance and aligns with its updated enforcement strategies.

The exchange rate between the US Dollar (USD) and Nigerian Naira (NGN) continues to fluctuate, with notable differences between the official market rate set by the Central Bank of Nigeria (CBN) and the parallel (black) market rates.

Black Market (Parallel Market) Exchange Rate
At the Lagos Parallel Market, also known as the black market, foreign exchange traders are currently buying one US dollar at ₦1,575 and selling it at ₦1,585. These rates are sourced from Bureau De Change (BDC) operators who engage in unofficial currency transactions outside the banking system.

The Central Bank of Nigeria (CBN) maintains a regulated exchange rate for financial institutions and official transactions. Based on recent data:

The highest recorded exchange rate for the dollar stands at ₦1,552 per USD
The lowest rate observed is ₦1,512 per USD
The CBN does not recognize or support the black market, advising individuals and businesses seeking foreign exchange (forex) to obtain their funds through licensed financial institutions such as banks.

Factors Influencing the Exchange Rate
Several economic and market conditions contribute to the fluctuations in Nigeria’s forex market, including:

Dollar Supply and Demand: A shortage of forex liquidity can push black market rates higher, while an increased supply from CBN interventions or foreign inflows can stabilize the naira.
Inflation and Economic Policies: High inflation rates and policy decisions from monetary authorities significantly impact the value of the naira.

Global Economic Trends: The strength of the US dollar in international markets, crude oil prices, and foreign direct investment flows all play a role in determining the naira’s performance.
CBN Regulations and Policies: Restrictions on forex transactions, such as bans on certain imports or tighter controls on foreign remittances, can create fluctuations in the black market rates.

Exchange rates are subject to constant fluctuations, and the rates at which individuals or businesses buy and sell forex may differ from those listed above. It is advisable to consult multiple sources or directly contact banks and financial institutions for the most accurate and up-to-date exchange rates.

The Consumer Price Index (CPI) which measures the rate of change in prices of goods and services further declined to 23.18 per cent in February compared to 24.48 per cent in January, the National Bureau of Statistics (NBS) said Monday.

Year-on-year, the headline inflation was 8.52 per cent lower than 31.70 per cent recorded in February 2024.

According to the CPI Report for the review period, month-on-month, inflation stood at 2.04 per cent in February.

Year on year, food inflation dropped by 14.41 per cent to 23.51 per cent in February compared to 37.92 per cent in the corresponding year.

The NBS however, pointed out that the significant decline in the food inflation was technically due to the change in the base year, following the recent rebasing of CPI from 2009 to 2024.

Nonetheless, the food index month on month, stood at 1.67 per cent.

The NBS stated, “Compared to the month of January 2025, there was an observed decline in the average prices of food items like yam tuber, potatoes, soya beans, flour of maize/cornmeal, cassava, bambara beans (dried), etc.”

Core inflation, which excludes the prices of volatile agricultural produces and energy, also declined by 2.12 per cent to 23.01 per cent, year on year in February 2025, compared to the 25.13 per cent in February 2024.

On a month-on-month basis, the core index stood at 2.52 per cent in February.

The average 12-month annual inflation rate was 25.33 per cent for the 12 months ending February 2025, higher than 21.72 per cent in February 2024.