The Dollar to Naira exchange rate remains one of Nigeria’s most-watched economic indicators, reflecting ongoing pressure in the country’s foreign exchange market. As demand for dollars continues to rise, many Nigerians turn to the black market (AbokiFX or parallel market) for faster access to forex.
Note: Exchange rates fluctuate frequently based on market demand, trading volume, and Central Bank policies. Always confirm the latest rates before making transactions.
Dollar to Naira Black Market Rate (AbokiFX) — October 8, 2025
Buying Rate: ₦1,490 per $1
Selling Rate: ₦1,496 per $1
At major parallel market locations such as Lagos, Abuja, Kano, and Port Harcourt, traders confirmed that the Naira opened at ₦1,490 per dollar in the morning session. This represents a slight drop from Monday’s ₦1,475 per $1 closing rate.
CBN Official Exchange Rate — October 8, 2025
According to data from the Central Bank of Nigeria (CBN):
Buying Rate: ₦1,470 per $1
Selling Rate: ₦1,470 per $1
The official CBN rate is typically lower than the black market rate, as the parallel market operates independently and is not regulated by the government.
Why the Naira Keeps Fluctuating
Financial experts attribute the Naira’s continued depreciation to several key factors:
Low forex inflows from oil exports and diaspora remittances
High import dependency across essential goods
Rising inflation and reduced investor confidence
Limited CBN intervention in the interbank market
Until Nigeria achieves a stable supply of foreign exchange, the Naira is expected to remain volatile.