The foreign exchange landscape in Nigeria remains a closely watched economic indicator, especially as the naira continues to navigate volatility and fluctuating demand. For many Nigerians, the black market dollar to naira exchange rate is more relevant than the official rates due to ease of access and fewer restrictions.
This article provides the most accurate and up-to-date information on today’s black market and CBN exchange rates, alongside insights into what these figures mean for individuals, businesses, and the economy.
What Is the Black Market Exchange Rate?
In Nigeria, the black market (also known as the parallel market) operates outside the Central Bank of Nigeria’s regulated forex windows. While unofficial, it serves as a crucial avenue for those who cannot access foreign currency through banks — particularly importers, SMEs, and individuals with urgent forex needs.
Dollar to Naira Black Market Rate – 12th May 2025
Today, Monday, 12th May 2025, the black market exchange rate for the US dollar to Nigerian naira is as follows:
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Buying Rate | ₦1,625 |
| Selling Rate | ₦1,630 |
This means:
- If you’re buying $1 in the black market today, you’ll need ₦1,630.
- If you’re selling $1, you will receive ₦1,625.
These rates may vary slightly by location and dealer, especially across Lagos, Abuja, Port Harcourt, and Kano.
Dollar to Naira CBN Rate – 12th May 2025
The official exchange rate from the Central Bank of Nigeria (CBN) stands lower than the black market rate:
| Dollar to Naira (USD to NGN) | CBN Rate Today |
|---|---|
| Highest Rate | ₦1,614 |
| Lowest Rate | ₦1,608 |
The CBN rate is applicable for government transactions, commercial banks, and exporters within regulated forex channels.
