The Nigerian naira traded at ₦1,568 to the United States dollar in the parallel market, also known as the black market, on Thursday, August 15, 2025, according to sources at the Lagos Bureau De Change (BDC).
Black market operators bought the dollar at ₦1,560 and sold it at ₦1,568, reflecting the continuing pressure on the local currency in unofficial trading channels.
At the official market, however, the Central Bank of Nigeria (CBN) rate stood lower, with the highest exchange rate recorded at ₦1,535 and the lowest at ₦1,533. The apex bank has repeatedly warned that it does not recognise the parallel market and advised individuals seeking foreign exchange to transact through licensed banks.
Market players noted that actual transaction rates may vary depending on location and volume, with demand for the greenback still high among importers and travellers.
The spread between official and black market rates has persisted despite the CBN’s ongoing reforms aimed at stabilising the foreign exchange market.
