BREAKING: Latest Dollar To Naira Rate For July 2, 2026

The latest foreign exchange market update indicates that the United States dollar traded at ₦1,400 on the parallel market, popularly known as the black market or Aboki FX, on July 1, 2026.

According to market information obtained by Ireporter Online from Bureau De Change (BDC) operators in Lagos, the dollar was bought at ₦1,390 and sold at ₦1,400 in the parallel market.

Meanwhile, the official exchange rates released under the Central Bank of Nigeria (CBN) window showed the dollar trading within a range of ₦1,368 and ₦1,378.

The CBN has consistently maintained that it does not recognise the parallel market as an official foreign exchange trading platform. The apex bank has advised individuals and businesses seeking foreign exchange transactions to access forex through authorised financial institutions and licensed banks.

Market observers also noted that exchange rates may vary across locations and dealers, meaning the actual buying or selling price could differ from the prevailing market figures reported at the time of publication.