Dollar Climbs to ₦1600 at Lagos Black Market – June 24th Rates Revealed

The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) at the black market, also referred to as the parallel market or “Aboki FX,” has seen a fresh increase.

As of Monday, June 23, 2025, traders at the Lagos black market were buying the dollar at ₦1585 and selling it at ₦1600, according to information gathered from Bureau De Change (BDC) operators.

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market for foreign exchange transactions. The CBN continues to urge individuals in need of foreign currency to conduct their exchanges through authorized commercial banks.

Exchange Rates Snapshot – June 23, 2025

Black Market (Parallel Market) Rates:

• Buying: ₦1585

• Selling: ₦1600

CBN Official Rates:

• Highest: ₦1551

• Lowest: ₦1541

Please be advised that actual rates may vary based on location, transaction volume, and negotiation. Rates published in this update are based on available data and do not reflect CBN endorsement or fixed pricing.