Naira-and-Dollars (2) (1).webp
As of April 24, 2025, the Nigerian black market exchange rate for the US dollar has surged to ₦1,615, with buying rates at ₦1,605. In contrast, the Central Bank of Nigeria (CBN) maintains an official rate of ₦1,602.63, highlighting a persistent gap between official and parallel market rates.
  • Black market dollar rates in Lagos: ₦1,605 (buying), ₦1,615 (selling).
  • CBN official rate: ₦1,602.63.
  • Cryptocurrency values: Bitcoin at ₦170.3 million, Ethereum at ₦5.3 million.
The widening gap between official and black market exchange rates underscores ongoing challenges in Nigeria's foreign exchange system. Despite the CBN's efforts to stabilize the naira, the parallel market remains a crucial avenue for many Nigerians seeking foreign currency. This disparity not only affects individual transactions but also impacts businesses relying on stable forex access.