As of December 15, 2025, the black market exchange rate for the US dollar to Nigerian Naira stood at ₦1485 for selling and ₦1480 for buying in Lagos’s parallel market, according to Bureau De Change (BDC) sources.
Note that the Central Bank of Nigeria (CBN) does not recognize the parallel market for foreign exchange transactions. The banking regulator has directed individuals to conduct forex operations through authorized financial institutions.
Official and Parallel Rates Gap Narrows
Recent CBN policy reforms have successfully reduced the disparity between official and parallel market exchange rates. This development has introduced greater stability and calm to Nigeria’s foreign exchange market.
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