Forex Sh*ck: Dollar Trades At Record ₦1,455 In Lagos Black Market

According to reports from financial monitoring platforms, the exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) has shown continued volatility in the parallel market as of Friday, November 7, 2025.

At the Lagos black market, also known as the parallel market or Aboki FX, currency traders reportedly exchanged the dollar for ₦1,455 while buying at ₦1,440 on Thursday, November 6, 2025. These figures were gathered from reliable Bureau De Change (BDC) sources familiar with daily forex transactions.

Financial experts caution that the Central Bank of Nigeria (CBN) does not officially recognize black market rates. The apex bank has consistently advised Nigerians seeking foreign exchange to use authorized financial institutions for legitimate transactions.

Meanwhile, official data from the CBN indicates that the dollar traded within an official window ranging from ₦1,434 to ₦1,441. The rate variations continue to highlight the gap between the official and unofficial forex markets, which remains a major concern for businesses and importers.

Market analysts note that rates may fluctuate depending on market demand, location, and transaction size. As such, individuals and traders are advised to verify prevailing rates before conducting any currency exchange.

Black Market (Parallel Market) Rates:

• Selling Rate: ₦1,455

• Buying Rate: ₦1,440

CBN Official Window Rates:

• Highest Rate: ₦1,441

• Lowest Rate: ₦1,434