The naira exchanged at ₦1,400 per dollar in the parallel market, popularly known as the black market, on June 7, 2026.
According to Bureau De Change (BDC) operators in Lagos, the US dollar was bought at ₦1,385 and sold at ₦1,400 in the informal foreign exchange market.
Black market exchange rate
| Dollar to Naira (USD/NGN) | Rate |
|---|---|
| Buying Rate | ₦1,385 |
| Selling Rate | ₦1,400 |
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The Central Bank of Nigeria (CBN) has consistently maintained that it does not recognise transactions carried out in the parallel market and has advised individuals seeking foreign exchange to use authorised banking channels.
CBN exchange rate
| Dollar to Naira (USD/NGN) | Rate |
|---|---|
| Highest Rate | ₦1,366 |
| Lowest Rate | ₦1,360 |
The official market rates released by the CBN showed the dollar trading between ₦1,360 and ₦1,366 against the naira.