The naira continued to fluctuate against the US dollar in the foreign exchange market, with traders in Lagos and other parts of the country quoting varying rates.
According to information gathered from Bureau De Change (BDC) operators on Saturday, October 4, 2025, the dollar to naira exchange rate at the parallel market (also known as the black market) stood at:
- Buying rate: ₦1,450 per $1
- Selling rate: ₦1,470 per $1
This means that anyone looking to sell US dollars in the black market will receive ₦1,450 per dollar, while those seeking to buy dollars will pay ₦1,470.
Meanwhile, the Central Bank of Nigeria (CBN) continues to emphasize that it does not recognize the parallel market, urging individuals to conduct all foreign exchange transactions through their respective banks or official channels.
At the official market, the CBN rate for the dollar to naira on the same date recorded:
- Highest rate: ₦1,472 per $1
- Lowest rate: ₦1,446 per $1
The ongoing volatility in the foreign exchange market continues to impact both importers and everyday Nigerians, as inflationary pressures persist amid fluctuating dollar supply and demand.
Dollar to Naira Exchange Rate Summary (October 4, 2025)
| Market Type | Buying Rate | Selling Rate |
|---|---|---|
| Black Market (Aboki FX) | ₦1,450 | ₦1,470 |
| CBN Official Rate | ₦1,446 (Lowest) | ₦1,472 (Highest) |
The black market remains the go-to option for many Nigerians seeking quick forex access despite CBN’s repeated warnings. As of today, the dollar is stronger, trading between ₦1,450 – ₦1,470, reflecting continuous pressure on the naira.
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