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“Parallel Market Frenzy: USD Sells For ₦1,556 As Naira Shows Resilience”
According to market findings, the U.S. dollar traded at the parallel market—commonly referred to as the black market—at rates hovering around ₦1,560 to buy and ₦1,550 to sell on Saturday, August 16, 2025. Operators in Lagos’ informal forex market confirmed that these figures reflect prevailing street rates as of the weekend, based on information gathered from Bureau De Change dealers.....KINDLY READ THE FULL STORY HERE▶
In contrast, official data monitored within regulated banking channels indicate a lower exchange range, with the naira trading between ₦1,533 and ₦1,535 per dollar. Financial analysts caution that the Central Bank of Nigeria (CBN) does not recognize parallel market transactions and continues to advise individuals seeking foreign exchange to make transactions through authorized banking institutions.
It is important to note that forex rates on the street can fluctuate depending on location, demand, and individual negotiations, meaning actual buying or selling prices may vary from general market quotes.
Nollywood actor Yul Edochie has stirred reactions after criticising Igbos who attack their fellow kinsmen for supporting President Bola Tinubu ahead of the next election.....KINDLY READ THE FULL STORY HERE▶
Political scientist and public affairs analyst Udenta Udenta has outlined how presidential hopeful Peter Obi could defeat President Bola Tinubu in the 2027 election.....KINDLY READ THE FULL STORY HERE▶
What is the Dollar to Naira exchange rate in the black market (also known as the parallel market or Aboki FX)?....KINDLY READ THE FULL STORY HERE▶
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