Dollar–Naira Exchange Rate Update For December 23, 2025

According to Ireporter Online, the naira continued to trade at a weaker position against the United States dollar in the parallel market on Monday, December 22, 2025, reflecting ongoing pressure on the local currency.

Findings from market operators in Lagos indicate that the dollar was exchanged at ₦1,485 for sales, while buyers offered ₦1,476 per dollar at the parallel market, popularly known as the black market. These rates highlight the sustained demand for foreign exchange outside the official window.

Market watchers note that rates at the parallel market often fluctuate based on demand and supply dynamics, and figures may vary slightly across different locations and dealers. Traders and currency users are therefore advised to confirm prevailing rates before concluding transactions.

Meanwhile, data from the official market shows that the Central Bank of Nigeria’s exchange rate for the dollar stood lower than the parallel market. The apex bank recorded a highest rate of ₦1,466 per dollar and a lowest rate of ₦1,431 during the same period.

The Central Bank of Nigeria has consistently maintained that it does not recognise transactions conducted in the parallel market, urging individuals and businesses seeking foreign exchange to channel their requests through authorised banks and official platforms. Currency analysts caution that discrepancies between official and unofficial markets remain a key challenge for forex stability in the country.