Here are the latest black market exchange rates for US dollars to Nigerian Naira on Wednesday, October 22, 2025. Currency traders in Lagos reported buying dollars at ₦1480 and selling at ₦1500, according to Bureau De Change (BDC) sources.
These parallel market rates reflect daily trading conditions but lack official recognition. The Central Bank of Nigeria (CBN) maintains its position that the black market isn’t authorized for foreign exchange transactions.
Nigerians seeking foreign currency should approach authorized banking institutions, as the CBN consistently directs all forex operations through formal banking channels. The central bank’s stance underscores efforts to stabilize Nigeria’s currency markets.
