Unofficial USD to NGN Exchange Rate as of 14th August, 2025
Dollar to Naira Exchange Rate on the Black Market in Lagos, Nigeria, as of 13th August 2025
As of 13th August, 2025, the exchange rate for a dollar to naira (USD to NGN) on the black market in Lagos, Nigeria, was approximately ₦1,540 per 1 US Dollar.
According to sources at Bureau De Change (BDC), the buying rate for a dollar was ₦1,549, while the selling rate was ₦1,530. This rate is consistent with values around that date and slightly afterwards, reflecting a prevailing black market rate near ₦1,540/USD[1][2][3].
It's important to note that the exchange rate on the black market is usually higher than the official Central Bank of Nigeria (CBN) rate. Around mid to late August 2025, the black market rate hovered around ₦1,535 to ₦1,540 for 1 USD[2][3]. Rates fluctuate due to factors like dollar demand, local economic conditions, and liquidity constraints[2][3].
On the other hand, official market rates were lower during the same period, with the highest rate at the CBN being ₦1,543 and the lowest being ₦1,535 per 1 USD[3].
The CBN, however, does not recognize the parallel market (black market), and individuals who want to engage in Forex are directed to approach their respective banks.
This article was published by our website, a division of Polance Media Inc. on 13th August, 2025. Prices for buying or selling forex may vary from what is captured in this article.
[1] Source 1 [2] Source 2 [3] Source 3
- In Lagos, Nigeria, on the black market as of 13th August 2025, the exchange rate for a dollar (USD) was approximately ₦1,540 per 1 Naira (NGN).
- The Bureau De Change (BDC) in Lagos revealed a buying rate of ₦1,549 and a selling rate of ₦1,530 for a USD, mirroring the prevailing black market rate near ₦1,540/USD.
- The Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), although it reported rates of ₦1,543 to ₦1,535 per 1 USD on the official market during the same period.
- Engaging in Forex business in Nigeria is directed to be done through banks due to CBN's restriction of recognition of the parallel market.
