As of Monday, October 27, 2025, the black market exchange rate for US Dollars to Nigerian Naira shows significant activity. Bureau De Change (BDC) operators in Lagos quoted ₦1499 as the selling rate and ₦1485 as the buying rate.
Forex traders can currently exchange their Dollars at these parallel market rates. However, the Central Bank of Nigeria (CBN) maintains its stance against unofficial currency trading. The apex bank emphasizes that legitimate foreign exchange transactions must occur through authorized banking institutions.
The CBN consistently warns Nigerians against using the parallel market. They direct individuals and businesses seeking forex services to approach their commercial banks. This position aims to stabilize Nigeria’s currency ecosystem and combat illegal financial activities.
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