The exchange rate for the US dollar to the Nigerian naira in the black market, also known as the parallel market (Aboki FX), has been released.
As of Wednesday, 19th March 2025, traders at the Lagos Parallel Market (Black Market) were buying dollars at ₦1575 and selling at ₦1585, according to sources from the Bureau De Change (BDC).
Official CBN Exchange Rate
The Central Bank of Nigeria (CBN) does not recognize the black market and advises individuals to conduct foreign exchange transactions through official banking channels. The official exchange rates recorded by the CBN are as follows:
Highest Rate: ₦1545
Lowest Rate: ₦1500
It is important to note that foreign exchange rates may vary depending on the location and financial institution handling the transaction.