Today's unofficial exchange rate for US Dollars to Nigerian Naira on the 6th of August, 2025
Dollar to Naira Exchange Rate on Lagos' Black Market, August 10, 2025
The exchange rate for a US dollar in Lagos' Black Market, also known as the Aboki FX, stood at ₦1560 on August 10, 2025. This figure was sourced from a Bureau De Change (BDC) in Lagos.
The Black Market rate is typically higher than the official exchange rates set by the Central Bank of Nigeria (CBN). As of August 10, 2025, the official rates were around ₦1533-1535 per USD.
It is important to note that the Black Market rates can fluctuate due to factors such as supply and demand, economic and political conditions, and lack of regulation, leading to variations between dealers and locations.
In the days leading up to August 10, 2025, the Black Market rates were reported to be around ₦1550-1565 per USD. The official exchange rates remained somewhat lower, around ₦1530 per USD.
Individuals who wish to engage in Forex transactions are directed by the CBN to approach their respective banks. However, it is worth mentioning that the CBN does not recognise the parallel market (Black Market).
The CBN has not provided the exchange rates for the Black Market for the 3rd and 4th of August, 2025. The buying and selling rates for a dollar at the CBN for these dates were also not available.
- In comparison to the official exchange rates set by the Central Bank of Nigeria (CBN), the Black Market rate for a US dollar in Lagos, also known as the Aboki FX, was slightly higher at ₦1560 on August 10, 2025.
- A spokesperson for the CBN emphasized that individuals involved in Foreign Exchange (Forex) transactions should only approach their respective banks for such transactions, despite the CBN not recognizing the parallel market (Black Market).
- Owing to factors like supply and demand, economic and political conditions, and lack of regulation, personal-finance experts caution that Black Market rates can vary considerably between dealers and locations.
- As part of their efforts to keep the public informed about currency fluctuations, the CBN has failed to provide the exchange rates for the Black Market for the 3rd and 4th of August, 2025, Similarly, the buying and selling rates for a dollar at the CBN for these dates were unavailable.
