As of April 10th, 2024, the exchange rate for a dollar to Naira at the Lagos Parallel Market (Black Market) was reported as follows:

  • Buying Rate: N1,246
  • Selling Rate: N1,247

Please note that these rates are subject to change and may vary depending on the specific circumstances of each transaction. Additionally, it’s important to acknowledge that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals to conduct foreign exchange transactions through their respective banks.

Furthermore, recent reports indicate that the Naira has strengthened in the FX market, appreciating to N1,120/$ on Monday, April 8th, 2024. This marks a significant improvement compared to the rate of N1,240/$ recorded on April 3rd, 2024. In Lagos, Bureau de Change (BDC) operators set the purchase price of the dollar at N1,100 and the selling price at N1,120, resulting in a profit margin of N20 per dollar.

These developments reflect positive shifts in the currency’s value, both in the parallel market and in the official trading window.