Dollar To Naira Exchange Rate Reaches Record High In Black Market Today 25th February 2025

Dollar To Naira Exchange Rate Reaches Record High In Black Market Today 25th February 2025

The Dollar to Naira exchange rate at the black market today sees the US Dollar trading at ₦1520 for buying and ₦1530 for selling in Lagos. These rates, sourced from Bureau De Change (BDC) operators, reflect the parallel market values.…….READ MORE

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It’s important to note that the Central Bank of Nigeria (CBN) does not endorse the black market for Forex exchange. Instead, the CBN urges individuals seeking to exchange foreign currencies to do so through licensed financial institutions.

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As of today, the CBN official exchange rate for the Dollar to Naira stands between ₦1491 and ₦1509.

In related news, Aliko Dangote, Chairman of Dangote Group, recently revealed that Nigeria’s government contributes just 15% to the country’s GDP, highlighting the private sector’s larger role in the economy. He also commended the initiatives of former military president General Ibrahim Babangida in strengthening Nigeria’s private sector.

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Dangote, currently ranked the 86th richest person globally, has seen his net worth surge to $23.9 billion, a notable 85.27% increase compared to the previous year.