Dollar To Naira Soars: Black Market Rates Shake Nigerians On September 17, 2025

According to market sources, the dollar-to-naira exchange rate at the black market, also referred to as the parallel market (Aboki FX), continued to fluctuate on Tuesday, September 16, 2025. Reports indicate that traders in the Lagos parallel market bought the dollar at ₦1,522 and sold it at ₦1,518.

It is important to note that the Central Bank of Nigeria (CBN) does not recognize the black market and has repeatedly advised individuals seeking foreign exchange to conduct transactions through their respective banks.

As of today, the black market exchange rate for the dollar to naira stands at ₦1,525 for buying and ₦1,518 for selling. Meanwhile, the CBN’s official rates are pegged at ₦1,490 at the highest and ₦1,479 at the lowest.

Observers caution that forex prices may vary across different locations and dealers, as market conditions often dictate fluctuations in rates.