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Dollar traded at ₦1,489–₦1,492 officially and ₦1,520–₦1,535 on the black market.
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The wide gap shows persistent forex shortages and rising demand pressures.
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Importers, businesses, and consumers face higher costs amid unstable exchange rates.
The naira continued to show signs of pressure today as the value of the US dollar rises in both the official and black markets. Below are the main exchange rates and market movements as of 17 September 2025.
Exchange Rates Table
| Market Type | Buy Rate (per USD) | Sell Rate (per USD) | Additional Notes |
|---|---|---|---|
| CBN / Official Market | ₦1,489.49 | ₦1,492.00 | End-of-day close, slight decline over prior day. |
| Black Market / AbokiFX | ₦1,520.00 | ₦1,535.00 | Traders selling at ₦1,535; buy side around ₦1,520. |
Key Takeaways
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The official (CBN / market-rate) exchange is about ₦1,489.50 – ₦1,492.00 per US dollar.
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On the black market (AbokiFX), the dollar is being sold for approximately ₦1,535 and bought for about ₦1,520.
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The gap between official and black market rates persists, reflecting ongoing foreign exchange supply constraints and demand pressures.
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EKO HOT BLOG reports that over recent days, the official rate has moved modestly downward or remained fairly stable, while the parallel (black market) rate shows slight upward drift.
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The average USD/NGN for September 2025 is hovering around ₦1,511.99 according to past data, marking a general range against which today’s rates are being measured.
What This Means for Nigerians
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Anyone engaging in forex transactions today—importers, travelers, remittance recipients—will likely face rates closer to the black market when dealing outside official channels.
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The discrepancy between the official/market and black market rates underscores risks of arbitrage, higher cost of goods priced in USD, and inflationary pressure.
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Businesses dependent on imported inputs may need to factor in higher costs if they are sourcing using non-official rates.
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Dollar-to-Naira Rate Update — 17 September 2025
The naira continued to show signs of pressure today as the value of the US dollar rises in both the official and black markets. Below are the main exchange rates and market movements as of 17 September 2025.
Exchange Rates Table
Market Type Buy Rate (per USD) Sell Rate (per USD) Additional Notes CBN / Official Market ₦1,489.49 ₦1,492.00 End-of-day close, slight decline over prior day. Black Market / AbokiFX ₦1,520.00 ₦1,535.00 Traders selling at ₦1,535; buy side around ₦1,520.
Key Takeaways
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The official (CBN / market-rate) exchange is about ₦1,489.50 – ₦1,492.00 per US dollar.
-
On the black market (AbokiFX), the dollar is being sold for approximately ₦1,535 and bought for about ₦1,520.
-
The gap between official and black market rates persists, reflecting ongoing foreign exchange supply constraints and demand pressures.
Context & Trend
-
Over recent days, the official rate has moved modestly downward or remained fairly stable, while the parallel (black market) rate shows slight upward drift.
-
The average USD/NGN for September 2025 is hovering around ₦1,511.99 according to past data, marking a general range against which today’s rates are being measured.
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