Here is the latest update on the dollar to naira exchange rate in the black market, also known as the parallel market (Aboki FX).
Dollar to Naira Black Market Rate
For those looking to exchange dollars for naira, traders at the Lagos parallel market quoted the following rates on Wednesday, January 21:
- Selling rate: ₦1,490 per dollar
- Buying rate: ₦1,480 per dollar
These figures were obtained from sources at Bureau De Change (BDC) outlets.
It is important to note that the Central Bank of Nigeria (CBN) does not recognize transactions conducted in the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to carry out transactions through authorized banks.
Exchange Rate Summary
Dollar to Naira (USD/NGN) – Black Market
- Selling: ₦1,490
- Buying: ₦1,480
Dollar to Naira (USD/NGN) – CBN Official Rate
- Highest rate: ₦1,423
- Lowest rate: ₦1,419
Please be aware that foreign exchange rates may vary depending on location and market conditions, and the actual buying or selling price may differ from the figures stated above.
“Sir Bartholomew White Ebe is a Lagos-based media personality, Music Artist, Producer, and a Relationship Coach and independent journalist. With over seven years of experience tracking political developments and cultural shifts in Nigeria, he specializes in local current affairs, grassroots politics, and community-driven reporting across Lagos State. As the founder and chief editor of Snow Multimedia Connect {SNOW TV}, he leads the editorial team to deliver verified, high-impact stories to digital audiences.”
Email: snowmediaconnect@gmail.com
