Dollar to Naira Exchange Rate – Black Market, Today May 15, 2025

• Dollar to Naira Exchange Rate – Black Market, May 15, 2025.
• CBN rate remains between ₦1595 and ₦1600 officially.
• Forex scarcity continues to drive black market rate higher.

The exchange rate between the US dollar and the Nigerian naira at the parallel market, commonly referred to as the black market or Aboki FX, remained volatile on Wednesday, May 15, 2025.

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EKO HOT BLOG reports that according to currency traders at the Lagos Bureau De Change (BDC), the dollar was purchased at ₦1625 and sold at ₦1630 in the black market, marking a slight increase from previous days as demand for foreign exchange continues to surge.

This unofficial market rate remains significantly higher than the official rate provided by the Central Bank of Nigeria (CBN). As of today, the CBN rate for the dollar to naira is pegged between ₦1595 and ₦1600.

It is important to note that the CBN does not recognize the black market rates and has consistently advised individuals and businesses to seek foreign exchange transactions through authorized financial institutions and official banking channels.

The widening gap between the official and parallel market rates continues to reflect the mounting pressure on Nigeria’s foreign exchange reserves and persistent demand-supply imbalance in the FX market.

Dollar to Naira Exchange Rates – May 15, 2025

• Black Market Rate (Aboki FX):

  • Buying: ₦1625

  • Selling: ₦1630

• CBN Official Rate:

  • Highest Rate: ₦1600

  • Lowest Rate: ₦1595

Please note: exchange rates may vary slightly based on location, transaction size, and negotiation terms.

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