Naira Slides as Parallel Market Sets New Dollar Benchmarks

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Nigeria’s foreign exchange space continues to show a gap between official and street trading figures, with fresh updates highlighting the latest dollar-to-naira values across markets.

In the Lagos parallel market—commonly called the black market or Aboki FX—currency traders were reported to sell one US dollar at about ₦1450 and buy at roughly ₦1435 on Friday, February 6, 2026. These figures were gathered from Bureau De Change (BDC) sources operating within the city.

Many Nigerians still monitor these informal rates to understand the real-time value of the naira when exchanging cash, even though the prices often shift during the day depending on supply and demand.

For clarity, the Central Bank of Nigeria (CBN) maintains that it does not approve transactions carried out in the parallel market. The apex bank has repeatedly advised individuals and businesses seeking foreign exchange to conduct their transactions through authorized commercial banks and official channels.

Snapshot of Current Dollar to Naira Levels

Parallel Market (Black Market)

Selling Rate: ₦1450 per dollar
Buying Rate: ₦1435 per dollar

CBN Official Window

Highest Rate: ₦1373 per dollar
Lowest Rate: ₦1361 per dollar

It is important to keep in mind that the actual price at which individuals buy or sell foreign currency may differ slightly from these figures, as exchange rates in both official and informal markets frequently fluctuate.