The Dollar to Naira black market exchange rate remains a critical indicator for millions of Nigerians who rely on the parallel market for foreign currency transactions.
As of today, Monday, February 23rd 2026, operators in the Lagos parallel market are buying the United States Dollar at ₦1,350 and selling at ₦1,360.
This latest movement in the Dollar to Naira exchange rate reflects continued pressure on foreign exchange supply within the informal segment of the market, even as official policy adjustments continue from monetary authorities.
How Much Is Dollar to Naira Today in Black Market?
For those asking, how much is dollar to naira today in black market, the current rates are as follows:
Buying Rate: ₦1,350 per $1
Selling Rate: ₦1,360 per $1
The ₦10 spread between buying and selling prices represents the margin for black market operators. These rates may vary slightly depending on location, transaction volume and negotiation strength.
The black market, also known as the parallel market, operates independently of the official foreign exchange window regulated by the Central Bank of Nigeria (CBN). While the CBN provides official rates, many individuals and businesses continue to source foreign currency from informal channels due to accessibility challenges.
You can monitor daily updates and in-depth market reports on Dollar to Naira fluctuations via investorsking.com, the digital platform of Investors King Limited.
Dollar to Naira: Official Market vs Black Market
The Dollar to Naira exchange rate in the official market is typically lower than the black market rate due to regulatory controls and structured liquidity management. However, supply constraints and high demand for dollars for imports, school fees, medical expenses and international transactions continue to widen the gap.
The CBN maintains oversight of the official exchange window and monetary policy direction through its website at cbn.gov.ng. Despite these measures, the parallel market remains active as a reflection of real-time demand and supply dynamics.
Market participants often compare official and parallel rates to assess pressure on the naira and overall economic stability.
Factors Influencing Today’s Dollar to Naira Rate
Several factors are influencing the Dollar to Naira exchange rate in the black market today:
Foreign Exchange Supply Constraints – Limited dollar inflows into the economy increase pressure on informal markets.
Import Demand – Nigeria’s heavy reliance on imports sustains dollar demand.
Speculative Activities – Traders often hold dollars in anticipation of further naira depreciation.
Inflation and Economic Conditions – Persistent inflation affects purchasing power and currency stability.
Parallel market data is frequently referenced by platforms such as Aboki Forex, which tracks daily informal exchange rate movements. For live updates, visit Aboki Forex.
Outlook for the Naira
The trajectory of the Dollar to Naira exchange rate will largely depend on improved foreign exchange inflows, diaspora remittances, oil revenue performance and policy consistency. Increased domestic refining capacity and export diversification may gradually ease demand pressure on the dollar in the long term.
However, in the short term, the black market remains highly sensitive to liquidity fluctuations and speculative demand.
For businesses, investors and individuals, staying informed about daily changes in the Dollar to Naira exchange rate is essential for planning and cost management. Continuous monitoring of both official and parallel markets provides a clearer picture of currency trends and economic direction.
As of Monday, February 23rd 2026, the black market rate stands at ₦1,350 for buying and ₦1,360 for selling, reflecting ongoing demand pressure within Nigeria’s foreign exchange environment.
Source: InvestorsKing
