Today’s Dollar To Naira Rate Is Out – Check July 24 Update

According to Ireporter Online, the Nigerian naira traded at ₦1,420 per dollar on the parallel market, popularly known as the black market or Aboki FX, while the buying rate stood at ₦1,410 as of Thursday, July 23, 2026, based on information obtained from Bureau De Change (BDC) operators in Lagos.

The update indicates that traders in the informal foreign exchange market were selling the United States dollar at ₦1,420 and purchasing it at ₦1,410, although rates may vary slightly depending on location and individual dealers.

Meanwhile, the Central Bank of Nigeria (CBN) continues to distance itself from transactions in the parallel market, maintaining that it does not recognise the black market as an official channel for foreign exchange trading. The apex bank has consistently advised individuals and businesses seeking foreign exchange to conduct transactions through authorised financial institutions and licensed banking channels.

At the official foreign exchange market, the CBN’s exchange rate recorded a highest rate of ₦1,370 per dollar and a lowest rate of ₦1,365 per dollar.

Market observers also noted that exchange rates are subject to fluctuations, meaning the actual buying or selling price offered by dealers may differ from prevailing market quotations depending on demand, supply and transaction location.