Nigeria’s foreign exchange market continues to show signs of strain, with the naira holding its ground but still trading at a premium in the black market. As of today, June 24, 2025, the dollar-to-naira exchange rate at the parallel market remains a key reference point for many Nigerians seeking foreign currency outside official channels.
Black Market (Aboki FX) Rates – June 23, 2025
* Buying Rate: ₦1,585 per $1
* Selling Rate: ₦1,600 per $1
These rates reflect transactions at the Lagos parallel market, as confirmed by Bureau De Change (BDC) sources.
Central Bank of Nigeria (CBN) Rates – June 23, 2025
* Highest Official Rate: ₦1,551 per $1
* Lowest Official Rate: ₦1,541 per $1
Important Notice
While these black market rates are widely used in informal trade, the **Central Bank of Nigeria does not recognise the parallel market** as an official exchange platform. The CBN advises individuals and businesses to conduct all forex transactions through authorised financial institutions.
What’s Driving the Market?
Despite the CBN’s recent policy efforts and foreign exchange reforms, the demand for the US dollar remains high, especially for imports, education, and travel. Limited access to official forex sources continues to fuel reliance on the parallel market.
Experts say that unless supply improves and access becomes easier through banks, the disparity between official and unofficial rates is likely to persist.
Final Word
As always, exchange rates may vary slightly based on your location and the amount involved in the transaction. Nigerians are advised to stay updated and transact through safe, reputable sources.
