Dollar–Naira Exchange Rate Update For December 24, 2025

According to Ireporter Online, the naira continued to trade weakly against the United States dollar at the parallel market on Tuesday, December 23, 2025, as demand for foreign exchange remained strong.

Market checks at the Lagos parallel market, commonly referred to as the black market, revealed that the dollar exchanged at an average selling rate of ₦1,477, while buyers purchased the greenback at ₦1,475. Operators at Bureau De Change outlets confirmed that rates fluctuated slightly across locations, depending on availability and volume of transactions.

Meanwhile, the Central Bank of Nigeria maintains a different benchmark for the official foreign exchange window. Data from the apex bank showed that the dollar traded within a range of ₦1,447 to ₦1,455 at the official market. The CBN has consistently reiterated that it does not recognize transactions carried out at the parallel market and has advised individuals and businesses seeking foreign exchange to conduct transactions through licensed banks.

Currency dealers also cautioned that exchange rates may vary from one outlet to another, noting that factors such as market pressure, liquidity, and timing often influence buying and selling prices.