Unofficial USD to NGN Exchange Rate on 13th August, 2025
Article Title: Black Market Dollar to Naira Exchange Rates in Lagos on August 12, 2025
In a directive issued by the Central Bank of Nigeria (CBN), individuals who wish to engage in Forex are advised to approach their respective banks. However, on August 12, 2025, the parallel (black) market exchange rates in Lagos offered a different story.
The black market exchange rates on that day varied slightly, reflecting typical fluctuations in the informal market. According to various sources, the buying rate ranged from ₦1,570 to ₦1,590.84, while the selling rate was between ₦1,560 and ₦1,620. One source reported a buying rate of ₦1,570 and a selling rate of ₦1,560, while another confirmed a rate of ₦1,555 per USD. A TikTok report stated similar rates, with a buying rate of ₦1,570 and a selling rate of ₦1,560.
These rates were reported by sources at Bureau De Change (BDC). It is important to note that the CBN does not recognize the parallel market (black market). The CBN's buying rate for a dollar on August 12, 2025, was ₦1,535, while the selling rate was ₦1,543. The difference between the CBN and black market buy rates is ₦35, while the difference between the sell rates is ₦23.
It is worth mentioning that the black market rates may vary from what is captured in this article. This article is from our website, a division of Polance Media Inc., published on August 12, 2025.
Individuals who wish to engage in Forex are reminded to follow the CBN's directive and approach their respective banks.
- Despite the Central Bank of Nigeria's (CBN) advice for individuals to approach banks for Forex transactions, the black market dollar to Naira exchange rates in Lagos on August 12, 2025, told a different story.
- On that day, the buying rate at the black market (Bureau De Change) ranged from ₦1,570 to ₦1,555 per USD, while the selling rate was between ₦1,560 and ₦1,620.
- It's crucial to note that the CBN does not recognize the parallel market (black market), with their buying rate for a dollar on August 12, 2025, being ₦1,535 and the selling rate at ₦1,543.
- Understanding the black market exchange rates can be beneficial for personal-finance management, investment, wealth-management, and business strategies, but it's important to remember that these rates may fluctuate and vary from the CBN's official rates.
- As the article is a publication of Polance Media Inc., it serves as a resource for Naija (Nigeria) residents to stay informed about the current financial landscape and make informed decisions about their investments and wealth management.
