Dollar Vs Naira Today: Latest Exchange Rate – Jan 29, 2026

According to Ireporter Online, the United States dollar continued to trade at a high rate against the Nigerian naira at the parallel market, commonly referred to as the black market or Aboki FX, on Wednesday, January 28, 2025.

Findings from operators at the Lagos parallel market indicate that the dollar was sold at ₦1,485, while buyers purchased the greenback at ₦1,475. This reflects the prevailing rates at which traders exchanged foreign currency across major black market points in the state.

Market sources disclosed that exchange rates at the parallel market are largely influenced by demand and supply dynamics, often resulting in variations across locations and dealers. As such, individuals exchanging foreign currency may encounter slightly different rates from those reported.

Ireporter Online further reports that the Central Bank of Nigeria (CBN) maintains its stance against the use of the parallel market for foreign exchange transactions. The apex bank has repeatedly advised Nigerians seeking foreign exchange to conduct transactions through licensed banks and official channels.

Meanwhile, data from the official market shows that the dollar traded between ₦1,392 and ₦1,415 at the CBN window, underscoring the persistent gap between official and parallel market rates.