Naira Under Fire: Currency Dealers Report Fresh Spike in Dollar Demand.

Financial analysts monitoring Nigeria’s informal foreign-exchange market report that the naira continued to trade under pressure on Saturday, with parallel-market operators in Lagos offering the United States dollar at ₦1,473 for sales and ₦1,460 for purchases as of November 22, 2025. Currency traders within the Bureau De Change network confirmed the prevailing rates, noting steady demand from individuals and small businesses that rely on the unofficial market for quicker access to foreign currency.....KINDLY READ THE FULL STORY HERE▶

Monetary authorities have repeatedly emphasized that the Central Bank of Nigeria does not recognise transactions conducted at the parallel market and has encouraged citizens seeking foreign exchange to use regulated banking channels. Meanwhile, official CBN data showed the dollar trading between ₦1,453 and ₦1,462 on the same day, reflecting a narrower spread compared to black-market figures.

Market observers caution that forex prices often fluctuate across cities and trading hubs, meaning actual transaction rates may differ slightly from those quoted. The ongoing divergence between official and street-level exchange rates continues to shape business decisions and consumer sentiment across the country.