The dollar was exchanged at ₦1406 when selling and ₦1396 when buying in the Lagos parallel market on Friday, June 19, 2026, according to Bureau De Change (BDC) operators. This rate reflects the going price in the unregulated sector commonly referred to as the black market or Aboki fx. The Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals to conduct foreign exchange transactions through licensed banks. On the same day, the official CBN window recorded a high of ₦1374 and a low of ₦1365 for the dollar. There is a gap of up to ₦41 between the official rates and the parallel market selling rate. Sources at BDC outlets confirmed the figures but noted that actual transaction rates may vary slightly depending on location and dealer. The CBN continues to urge the public to use formal banking channels for forex transactions. Fluctuations in the parallel market rate are common and often reflect supply constraints and demand pressures not always mirrored in official figures. The disparity between official and black market rates persists despite regulatory efforts.
The Central Bank of Nigeria does not recognize the parallel market, yet the dollar trades at ₦1406 in Lagos while the CBN's highest rate is ₦1374. This gap means Nigerians relying on BDCs or street dealers pay significantly more for dollars than the official rate suggests. The discrepancy affects those needing forex for travel, education, or medical bills who cannot access the formal system. The CBN's advice to use banks does little to close the gap when supply remains tight in official channels.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
