Breaking: Dollar–Naira Exchange Rate Today, Feb 3, 2026

According to Ireporter Online, the United States dollar continued to trade at a premium against the naira at the parallel market, popularly known as the black market or Aboki FX, on Monday, February 2, 2025.

Market observations from Bureau De Change operators in Lagos indicate that the dollar was sold at ₦1,460, while buyers purchased the greenback at ₦1,440. This reflects the prevailing demand and supply dynamics within the unofficial foreign exchange market.

Currency traders disclosed that rates at the parallel market remain volatile, often influenced by dollar scarcity and speculative activities, with prices varying slightly across locations and dealers.

Meanwhile, the Central Bank of Nigeria (CBN) has reiterated that it does not recognise transactions conducted in the black market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to approach authorised commercial banks and official channels.

At the official window, the CBN’s exchange data shows that the dollar traded between a high of ₦1,396 and a low of ₦1,381 against the naira. Financial analysts note that differences between official and parallel market rates persist due to market forces and regulatory controls.

Traders have also cautioned that actual buying or selling prices may differ from reported figures, as foreign exchange rates are subject to fluctuations depending on location, volume, and market conditions.