Dollar–Naira Exchange Rate Update For April 28, 2026

The exchange rate between the United States dollar and the Nigerian naira at the parallel market, commonly referred to as the black market, has continued to attract attention amid fluctuations in the foreign exchange space. According to market sources and data obtained from Bureau De Change operators, the dollar was traded at an average selling rate of ₦1400 and a buying rate of ₦1390 in Lagos on April 27, 2026. Reports indicate that these figures reflect ongoing demand pressures in the informal forex market, where rates often differ from official benchmarks.

Financial authorities have consistently maintained their stance on the matter, as the Central Bank of Nigeria does not recognize transactions conducted within the parallel market. The apex bank has advised individuals and businesses seeking foreign exchange to utilize official banking channels for transparency and regulatory compliance.

Meanwhile, at the official window, data shows that the dollar traded within a range, with the highest rate recorded at ₦1370 and the lowest at ₦1359. Analysts note that discrepancies between the official and parallel market rates persist due to varying supply dynamics and market forces. It is also important to note that exchange rates may differ slightly across locations and dealers, depending on prevailing conditions.