Here is the latest black market exchange rate for the US dollar to Nigerian naira as reported on October 26, 2025. Currency traders in Lagos’ parallel market sold dollars at ₦1499 and purchased them at ₦1480, according to Bureau De Change (BDC) sources.
Official Stance on Parallel Market
The Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) as a legitimate forex channel. The banking regulator directs Nigerians to conduct foreign exchange transactions through authorized banking institutions.
Naira Recovery in Forex Market
The Nigerian naira recently regained stability against the US dollar following the CBN’s injection of $70 million into the foreign exchange market. This intervention aims to enhance liquidity and support the local currency’s value.
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