Home Finance Black Market Dollar Hits High As Naira Struggles At Parallel Market

Black Market Dollar Hits High As Naira Struggles At Parallel Market

The Dollar to Naira exchange rate continued its upward pressure in the parallel market on Monday, 8th December 2025, as traders in Lagos quoted the dollar at ₦1490 for selling and ₦1480 for buying, according to Bureau De Change sources.

The Central Bank of Nigeria (CBN) maintained a separate official window, with the dollar trading between ₦1450 and ₦1457, emphasising once again that it does not recognise black market transactions. Nigerians are urged to conduct all Forex dealings through authorised banks.

Rate fluctuations remain common across Nigerian cities, as prices may differ depending on demand, location, and individual Forex dealers. The persistent gap between the official and black market rates continues to shape public sentiment and fuel concerns about currency stability.

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