- Official/ Black Market: Dollar to Naira Rate For December 1 2025
- Official CBN-recorded rate remains at approx. ₦1,446.
- Huge naira-dollar gap shows rising demand, forex supply stress.
The exchange rate between the US dollar and the Nigerian naira on 1 December 2025 shows a clear gap between the official and parallel (black) market rates.
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EKO HOT BLOG reports that according to sources at several Bureau de Change (BDC) operators in Lagos, commonly known as the black market, the dollar currently trades at ₦1,470 for sellers and ₦1,455 for buyers. Meanwhile, the official exchange rate via the Central Bank of Nigeria (CBN) remains lower.
Exchange Rates (1 December 2025)
| Market Type | Buying Rate (₦ per US$) | Selling Rate (₦ per US$) |
|---|---|---|
| Black Market (Parallel) | 1,455 | 1,470 |
| CBN / Official Rate | — | ~ 1,446 |
On the black market, the naira trades significantly weaker than on regulated platforms. Many Nigerians — including importers, remittance recipients and travellers — continue to rely on these parallel rates despite the risks involved and the fact the CBN does not officially recognise the black market. The central bank continues to urge citizens to transact only with licensed banks or authorised forex dealers.
The divergence between the official and black-market rates reflects ongoing foreign currency supply constraints and elevated demand for dollars across informal channels.
Actual rates can vary significantly depending on location, time of day, and specific Bureau de Change operators. It is therefore advisable for anyone needing foreign exchange to verify current rates before transacting.
