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Dollar to Naira Exchange Rate: Latest Black Market (Aboki) and CBN Rates
The dollar to naira exchange rate in the Nigerian parallel market, popularly known as the black market or Aboki forex market, remained relatively stable on Wednesday, July 8, 2026.
According to information obtained from Bureau De Change (BDC) operators in Lagos, the United States dollar is being bought at ₦1,398 and sold at ₦1,410 in the black market.
Black Market Dollar to Naira Exchange Rate
| Dollar to Naira (USD/NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1,398 |
| Selling Rate | ₦1,410 |
The black market continues to serve as an alternative source of foreign exchange for many Nigerians due to persistent demand for dollars. However, exchange rates in the parallel market are not fixed and may vary depending on location, transaction size, and the dealer involved.
CBN Official Dollar to Naira Exchange Rate
According to official market data, the Central Bank of Nigeria (CBN) exchange rates for the dollar are as follows:
| Dollar to Naira (USD/NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,387 |
| Lowest Rate | ₦1,376 |
The official market rates are generally lower than those obtainable in the parallel market, reflecting the difference between regulated and informal foreign exchange trading.
CBN’s Position on the Black Market
The Central Bank of Nigeria does not recognize the parallel market as an official platform for foreign exchange transactions. The apex bank has consistently advised individuals and businesses seeking foreign currency to obtain it through authorized financial institutions, including commercial banks and licensed foreign exchange dealers.
The CBN maintains that forex transactions conducted through official channels promote transparency, improve market stability, and support ongoing efforts to strengthen the value of the naira.
Exchange Rates May Differ
It is important to note that the exchange rates listed above are based on information gathered from Lagos Bureau De Change operators and official market data at the time of reporting. The actual rate at which you buy or sell dollars may differ depending on your location, the amount involved in the transaction, and prevailing market conditions.
As a result, forex rates are subject to change throughout the day, and traders are advised to confirm current prices before completing any transaction.
