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Naira Under Pressure As Dollar Nears ₦1,500 At Black Market.
According to Nivo News, the naira continued to face pressure against the United States dollar at the parallel market as trading opened for Sunday, December 28, 2025, with the local currency weakening further amid persistent forex demand.....KINDLY READ THE FULL STORY HERE▶
Market operators at the Lagos parallel market disclosed that the dollar was sold at ₦1,475, while buyers purchased the foreign currency at ₦1,467. These rates reflect ongoing volatility in the informal forex segment, where prices often fluctuate based on demand and supply conditions.
Traders noted that exchange rates in the black market are not fixed and may vary slightly across locations, as transactions are largely driven by negotiations between buyers and sellers.
Meanwhile, official figures showed that the Central Bank of Nigeria’s exchange rate for the dollar remained significantly lower. Data available indicated that the highest official rate stood at ₦1,455, while the lowest rate was ₦1,435.
The apex bank has repeatedly maintained that it does not recognize transactions conducted in the parallel market and has advised individuals and businesses seeking foreign exchange to channel their requests through licensed commercial banks.
Forex analysts observed that the persistent gap between the official and black market rates continues to reflect pressure on the naira, while urging market participants to note that actual buying or selling prices may differ slightly from published figures due to daily market dynamics.
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