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Compare Quotes in Real Time: Rates posted online may already be outdated; confirm with multiple dealers or your bank before transacting.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.

Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate
As of Tuesday, May 13, 2025, the exchange rate for the U.S. dollar to the Nigerian naira at the Lagos Parallel Market commonly known as the black market or Aboki FX—stands as follows:

Buying Rate: ₦1,630 per dollar
Selling Rate: ₦1,635 per dollar
This information is based on data obtained from traders at Bureau De Change (BDC) outlets in Lagos.

Important Notice:
The Central Bank of Nigeria (CBN) does not recognize the black market as an official channel for foreign exchange transactions. Individuals and businesses seeking to access forex are advised to go through authorized financial institutions, such as commercial banks.

Dollar to Naira – Black Market Rate Today
Exchange Type Rate (₦)
Buying ₦1,630
Selling ₦1,635
Dollar to Naira – CBN Official Rate
At the Central Bank of Nigeria’s official window, the dollar exchanged at varying rates today:

Highest Rate: ₦1,610
Lowest Rate: ₦1,597
Note:
Foreign exchange rates may differ depending on location, volume, and the dealer. The figures provided here are for informational purposes and may not reflect the exact rates offered to buyers or sellers in real-time.