Viral
Dollar to Naira Exchange Rate – Black Market (Aboki Forex Rate)
| The Nigerian naira traded at ₦1,406 per dollar in the Lagos parallel market, popularly known as the black market, on Saturday, June 20, 2026, according to Bureau De Change (BDC) sources. |
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Market operators indicated that the United States dollar was bought at ₦1,396 and sold at ₦1,406 during trading activities in the unofficial foreign exchange market.
Black Market Dollar to Naira Rate
| Dollar to Naira (USD/NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1,396/$1 |
| Selling Rate | ₦1,406/$1 |
The parallel market continues to serve as an alternative source of foreign exchange for many Nigerians despite repeated warnings from the Central Bank of Nigeria.
CBN Official Dollar to Naira Rate
According to available official market data, the exchange rate under the Central Bank of Nigeria framework ranged between:
| Dollar to Naira (USD/NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,374/$1 |
| Lowest Rate | ₦1,365/$1 |
The difference between the official and parallel market rates highlights the continued gap between demand and supply in the foreign exchange market.
The Central Bank of Nigeria has consistently maintained that it does not recognize the black market and has advised individuals and businesses seeking foreign exchange to utilize authorized financial institutions and approved forex channels.
It is important to note that exchange rates may vary across locations, dealers, and transaction volumes. As a result, the rates at which individuals buy or sell foreign currency could differ slightly from the figures quoted above.
