Looking for today’s Black Market Dollar to Naira exchange rate? Here’s the latest update for 24th February 2025. Stay informed about current USD to NGN parallel market rates and make smarter forex decisions.
How Much is a Dollar to Naira in the Black Market Today?
At the Lagos Parallel Market (Aboki FX), traders buy $1 for ₦1520 and sell at ₦1530 on Sunday, 23rd February 2025. These rates come directly from Bureau De Change (BDC) sources.
⚠️ Note: The Central Bank of Nigeria (CBN) does not recognize the black market for foreign exchange transactions. Individuals are encouraged to use official banking channels for Forex dealings.
💲 Dollar to Naira Black Market Rates – 24th February 2025
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Buying Rate | ₦1520 |
| Selling Rate | ₦1530 |
🏦 CBN Official Dollar to Naira Rates – 24th February 2025
| Dollar to Naira (USD to NGN) | CBN Rate Today |
|---|---|
| Highest Rate | ₦1509 |
| Lowest Rate | ₦1491 |
💡 Exchange rates may vary based on market demand and location.
💡 CBN’s Latest Monetary Policy Updates
The Central Bank of Nigeria (CBN) recently maintained the Monetary Policy Rate (MPR) at 27.5% following its Monetary Policy Committee (MPC) meeting.
One significant policy update includes an increase in ATM withdrawal fees. Withdrawals from another bank’s ATM now incur a ₦100 fee for every ₦20,000 withdrawn.
CBN Governor, Olayemi Cardoso, defended this policy, emphasizing that it aims to:
- Encourage banks to improve ATM cash availability
- Expand ATM networks for seamless transactions
- Curb exploitative withdrawal services
Cardoso assured that this measure will boost financial efficiency and ensure consistent cash flow at ATMs.
✅ Quick Tips for Forex Buyers & Sellers:
- Always compare rates from multiple BDCs before trading.
- Use official CBN rates for large-scale transactions to avoid discrepancies.
- Stay updated with real-time rates to make informed decisions.
For official updates and verified rates, visit the CBN official website.
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