Dollar vs Naira: Latest Black Market and CBN Exchange Rates for February 3 2026

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The trading value of the United States Dollar (USD) against the Nigerian Naira (NGN) continues to draw significant attention, especially within the parallel or black market, often called the Aboki FX market.

Black Market Dollar Rates

Information gathered from Bureau De Change (BDC) operators in Lagos indicates that as of Monday, February 2, 2026, the USD is selling for ₦1,460 and being bought at ₦1,440 on the black market. These rates represent what traders are currently exchanging dollars for naira in informal channels.

It is crucial to note that the Central Bank of Nigeria (CBN) does not officially recognize black market transactions. The apex bank has consistently urged individuals and businesses to carry out foreign exchange dealings only through licensed commercial banks to ensure safety and regulatory compliance.

Black Market (Aboki FX) Rates:

Currency Pair	Transaction Type	Rate
USD to NGN	Selling Rate	₦1,460
USD to NGN	Buying Rate	₦1,440

Official CBN Exchange Rates

Meanwhile, the Central Bank of Nigeria’s official rates for the U.S. dollar remain lower than black market levels:

Currency Pair	Rate Type	Value
USD to NGN	Highest Rate	₦1,396
USD to NGN	Lowest Rate	₦1,381

It is important for traders and consumers to understand that forex rates fluctuate depending on location, demand, and the dealer involved. Therefore, the actual rate at which one buys or sells dollars may slightly differ from the reported figures.