Dollar to Naira: Black Market Exchange Rate for USD to NGN on March 18, 2025

Dollar to Naira: Black Market Exchange Rate for USD to NGN on March 18, 2025

The exchange rate for the US dollar to the Nigerian naira at the black market, also known as the parallel market, has been released for today, March 18, 2025………READ MORE

According to reports from Bureau De Change (BDC) sources, the exchange rate in Lagos’ parallel market on March 17, 2025, was as follows:

• Buying rate: ₦1,575 per dollar
• Selling rate: ₦1,585 per dollar

It is important to note that the Central Bank of Nigeria (CBN) does not recognize the black market and advises individuals seeking foreign exchange transactions to use official banking channels.

Official CBN Exchange Rate

The Central Bank of Nigeria’s official exchange rate for the dollar is as follows:

• Highest rate: ₦1,552
• Lowest rate: ₦1,512

Meanwhile, the Securities and Exchange Commission (SEC) has announced the suspension of Centurion Registrars Limited, including its directors and associated individuals, from operating in the capital market.

This decision was outlined in a statement titled “Additional Enforcement Measures on Erring Capital Market Operators”. The SEC urged clients of Centurion Registrars to seek assistance from Africa Prudential Plc.

Additionally, the commission plans to publish a “Name and Shame” journal listing capital market operators who violate regulations. The SEC reaffirmed its commitment to enforcing compliance and imposing penalties as outlined in the Investment and Securities Act (ISA) 2007 and other relevant regulations.