The exchange rate between the U.S. Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate, with notable differences between the official rates and the parallel market (popularly called the black market or Aboki fx).
As of Thursday, October 9, 2025, traders at the Lagos Parallel Market (Black Market) quoted the dollar at:
- ₦1,500 (selling rate)
- ₦1,485 (buying rate)
This reflects the rate at which Bureau De Change (BDC) operators are transacting in the open market.
It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and has advised individuals or businesses seeking foreign exchange to conduct transactions through official banking channels.
Black Market (Aboki fx) Rate – October 10, 2025
| Dollar to Naira (USD/NGN) | Exchange Rate |
|---|---|
| Selling Rate | ₦1,500 |
| Buying Rate | ₦1,485 |
CBN Official Rate – October 10, 2025
| Dollar to Naira (USD/NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,472 |
| Lowest Rate | ₦1,463 |
Please note: Actual forex rates may differ depending on the location, financial institution, or individual dealers, as market prices vary.
