Dollar Climbs Again As Naira Trades Near ₦1,500 At Black Market.

Dollar to naira exchange rates remained a major point of attention in the foreign exchange market on Sunday, December 21, 2025, as the local currency continued to trade at varying levels across official and unofficial markets.....KINDLY READ THE FULL STORY HERE▶

According to Nivo News, checks at the Lagos parallel market, commonly referred to as the black market, showed that the naira exchanged at ₦1,495 per dollar for selling, while buyers purchased the United States dollar at ₦1,489. Currency dealers noted that these rates reflect prevailing demand and supply conditions within the informal forex segment.

Market operators explained that individuals seeking to exchange dollars for naira were able to do so within this price range, although rates may differ slightly depending on location and volume of transaction. The disparity between buying and selling prices underscores ongoing volatility in the parallel market.

Meanwhile, the Central Bank of Nigeria maintained a different benchmark at the official window. According to information obtained by Nivo News, the CBN exchange rate for the dollar stood between a high of ₦1,469 and a low of ₦1,460. The apex bank has consistently reiterated that it does not recognize transactions conducted in the parallel market and has advised Nigerians to channel their foreign exchange needs through licensed banks.

Financial analysts caution that foreign exchange rates are subject to frequent changes, noting that the prices at which individuals buy or sell forex may vary from one dealer to another due to market dynamics and regional differences.