The exchange rate between the US Dollar and the Nigerian Naira in the parallel market, commonly known as the black market or Aboki FX market, remained a key focus for traders and businesses on Wednesday, June 3, 2026.
According to information gathered from Bureau De Change (BDC) operators in Lagos, the dollar was bought at ₦1,381 and sold at ₦1,390 in the black market.
Black Market Dollar to Naira Rate
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| USD/NGN | ₦1,381 | ₦1,390 |
Meanwhile, the official exchange rates provided by the Central Bank of Nigeria (CBN) showed the dollar trading within a range of ₦1,350 to ₦1,370.
CBN Dollar to Naira Rate
| Currency | Lowest Rate | Highest Rate |
|---|---|---|
| USD/NGN | ₦1,350 | ₦1,370 |
The CBN has consistently maintained that it does not recognize transactions conducted in the parallel market and has advised individuals and businesses seeking foreign exchange to use authorized banking channels.
It is important to note that forex rates are subject to fluctuations and may vary across locations and dealers, meaning the actual buying or selling rate could differ from the figures quoted above.