The black market exchange rate for the US dollar to the Nigerian naira closed with notable figures on October 31, 2025. Bureau De Change (BDC) operators in Lagos Parallel Market reported a selling rate of ₦1469 per dollar. The buying rate was ₦1450.
These parallel market rates represent the closing figures for the last day of October 2025. Currency traders at Lagos’ unofficial exchange hubs facilitated transactions at these levels.
The Central Bank of Nigeria maintains its official stance against the parallel market. The CBN does not recognize black market forex transactions. Nigerian residents seeking foreign currency are advised to approach authorized banking institutions.
This advisory aligns with the CBN’s ongoing efforts to regulate currency exchange. The bank continues to direct forex transactions through formal banking channels.
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