Today’s Dollar To Naira Exchange Rate – March 1, 2026

According to financial market observers, the US dollar continued to trade at elevated levels against the Nigerian naira in the parallel foreign exchange market on 28th February 2026. Market checks in Lagos revealed that Bureau De Change operators quoted the black market (also known as the Aboki FX) rate at ₦1,380 for sellers and ₦1,360 for buyers per one US dollar, reflecting persistent pressure on the naira amid ongoing forex demand. Daily transactions in the informal market, which operates independently of official banking channels, continue to vary by location and dealer, underscoring the unregulated nature of these rates.

The Central Bank of Nigeria (CBN) does not recognise the parallel market and has repeatedly urged individuals and businesses seeking foreign exchange to transact through authorised banks and official forex windows. Official figures published for the same period showed the CBN’s exchange rate ranging between ₦1,345 and ₦1,369 per dollar, illustrating a significant gap between formal and informal market valuations. Traders and analysts caution that the rates available to buyers and sellers may differ from headline figures due to rapid intraday fluctuations and differing supply conditions in various trading hubs.