Nigeria’s Dollar to Naira Exchange Rates for January 1 2026

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Many Nigerians continue to track the Dollar to Naira exchange rate, with particular attention to the parallel market, often referred to as the black market or Aboki FX.

Data collected from Bureau De Change (BDC) operators in Lagos on Wednesday, December 31, 2025, shows the prevailing rates at which individuals typically exchange U.S. dollars for naira in the black market.

In Lagos, the U.S. dollar was reported to be selling at ₦1,478 and buying at ₦1,475. These figures reflect the unofficial market where currency transactions occur outside the formal banking system.

It is important to highlight that the Central Bank of Nigeria (CBN) does not formally recognize black market transactions. The apex bank has consistently urged individuals and businesses to carry out foreign exchange dealings exclusively through authorized commercial banks to ensure legality and security.

Dollar to Naira Exchange Rate – Black Market (USD/NGN)

Selling Rate: ₦1,478
Buying Rate: ₦1,475

Meanwhile, official rates from the CBN’s foreign exchange window showed slightly lower values for the U.S. dollar. According to the apex bank, the highest rate recorded was ₦1,439, while the lowest was ₦1,427.

Dollar to Naira Exchange Rate – Official CBN (USD/NGN)

Highest Rate: ₦1,439
Lowest Rate: ₦1,427

It is essential to note that exchange rates can fluctuate depending on location, market demand, and the financial institution involved. Therefore, the actual rate at which foreign currency is bought or sold may vary from the figures listed above.