Black Market Dollar To Naira Exchange Rate For March 29, 2025

Black Market Dollar To Naira Exchange Rate For March 29, 2025

As of today, March 29, 2025, the black market (parallel market) exchange rate for the US Dollar to Naira stands as follows:

• Buying Rate: ₦1,540

• Selling Rate: ₦1,550

This rate was recorded on March 28, 2025, at the Lagos parallel market, where Bureau De Change (BDC) operators are actively trading….READ MORE….

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market and advises individuals to engage in foreign exchange transactions through licensed banks.

In comparison, the CBN official exchange rate for the Dollar to Naira ranges between ₦1,535 and ₦1,540.

Additionally, Nigeria’s Money Supply (M2) saw a notable year-on-year growth of 17.3%, reaching ₦110.3 trillion in February 2025. However, credit to the economy experienced a decline of 13.4%, falling to ₦99.4 trillion during the same period, driven largely by a reduction in government and private sector lending.

This data, sourced from the CBN’s latest Money and Credit Statistics, highlights key shifts in Nigeria’s financial landscape.