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Naira Struggles As Dollar Surges Beyond ₦1,500 Mark.
According to Nivo News, the Naira continues to trade under pressure against the United States Dollar in the parallel market, as rates remain above ₦1,500 per dollar.....KINDLY READ THE FULL STORY HERE▶
At the Lagos black market, popularly referred to as Aboki FX, currency dealers on Wednesday, October 15, 2025, sold the dollar at ₦1,510 while buying at ₦1,490, based on data obtained from Bureau De Change (BDC) operators.
Meanwhile, the Central Bank of Nigeria (CBN) has reiterated that it does not recognize transactions carried out in the parallel market. The apex bank advises individuals or businesses seeking foreign exchange to conduct transactions through authorized financial institutions and official channels.
At the official CBN window, the dollar exchanged between ₦1,465 and ₦1,479 on Wednesday. However, market observers caution that rates often fluctuate depending on market demand and location, and the actual buying or selling rate may differ slightly across different areas.
Nivo News reports that the continued volatility in the forex market reflects the ongoing challenges in balancing dollar supply and demand in the Nigerian economy.
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