Dollar To Naira Exchange Rate For April 17, 2026

The exchange rate between the United States dollar and the Nigerian naira at the parallel market, commonly referred to as the black market, recorded notable activity on April 16, 2026. According to Ireporter Online, traders at the Lagos Bureau De Change (BDC) segment of the parallel market exchanged the dollar at a selling rate of ₦1,400 and a buying rate of ₦1,390.

Market sources indicated that these figures reflect the prevailing rates within the informal forex market, where individuals often turn for quicker currency transactions outside official channels. However, the Central Bank of Nigeria (CBN) has consistently maintained its stance against the recognition of the parallel market, advising individuals and businesses seeking foreign exchange to conduct their transactions through authorized financial institutions.

In contrast, official data from the CBN showed that the dollar traded within a range, with the highest rate standing at ₦1,344 and the lowest at ₦1,340 for the same period. This highlights a noticeable gap between the official and parallel market rates.

It is important to note that foreign exchange rates remain subject to fluctuations depending on market demand and supply dynamics, meaning actual buying or selling prices may vary from the figures reported.