Latest USD to NGN Black Market and CBN Rates — January 7 2026

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The US dollar continues to trade at a noticeable premium in Nigeria’s black market, widely referred to as the parallel market or Aboki FX. Currency dealers across Lagos report that on Tuesday, January 6, 2025, one dollar was sold for ₦1,485 and bought for ₦1,477.

While these figures reflect typical rates offered by informal traders, it is important to note that the Central Bank of Nigeria (CBN) does not recognise black market transactions. The apex bank consistently advises Nigerians to conduct foreign exchange through licensed banks and authorised BDCs to ensure legitimacy and security.

Exchange Rates Snapshot

Black Market (Parallel Market / Aboki FX)

Transaction Type	USD to NGN Rate
Selling	₦1,485
Buying	₦1,477

Official CBN Rate

Rate Type	USD to NGN Rate
Highest	₦1,426
Lowest	₦1,414

Investors and individuals should be aware that actual rates may differ slightly depending on location, market demand, and negotiation with dealers. Fluctuations are common, so buyers and sellers are encouraged to verify rates before completing any transaction.

By comparing both official and parallel market rates, Nigerians can make informed decisions on foreign exchange, whether for business, travel, or investment purposes.