Dollar To Naira: Black Market Exchange Rate Hits Shocking New High On February 22, 2025

What is the Dollar to Naira Exchange Rate in the Black Market (Parallel Market/Aboki FX)?

Below is the latest black market exchange rate for the U.S. dollar to the Nigerian naira as of Friday, February 21, 2025. If you’re looking to exchange your dollars for naira, here are the prevailing rates:

Dollar to Naira Black Market Rate Today

• Buying Rate: ₦1,500
• Selling Rate: ₦1,510

According to sources at the Bureau De Change (BDC), traders at the Lagos Parallel Market (Black Market) buy dollars at ₦1,500 and sell at ₦1,510.

Official Exchange Rate – CBN Rate Today

• Highest Rate: ₦1,509
• Lowest Rate: ₦1,491

Important Notice

The Central Bank of Nigeria (CBN) does not officially recognize the parallel (black) market. Individuals seeking to exchange foreign currency are advised to use official banking channels.

Naira Continues to Appreciate in the Parallel Market

The naira has been strengthening against the dollar in the black market. On Thursday, February 20, the exchange rate improved to ₦1,500 per dollar, up from ₦1,505 on Wednesday.

A Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan, confirmed the trend, stating:
“The minimum selling rate for dollars on Thursday was ₦1,500, compared to ₦1,505 the day before.”

This signifies a ₦5 appreciation of the naira against the dollar within a day.

Convergence of FX Rates

Meanwhile, in the official foreign exchange market, the naira traded at ₦1,509.03 per dollar on Wednesday, slightly up from ₦1,507.2 on Tuesday, as reported by the CBN.

The narrowing gap between official and parallel market rates suggests an ongoing convergence in Nigeria’s FX markets.