₦airaland Forum

naijablognet:
The Naira continued its downward slide against the U.S. Dollar on Wednesday, October 15, 2025, as the currency traded as high as ₦1,510 per dollar at the black market, popularly known as Aboki FX.
According to sources at the Lagos Parallel Market (Bureau De Change), traders bought the Dollar at ₦1,490 and sold at ₦1,510, reflecting persistent demand pressure amid limited supply.

Meanwhile, at the official Central Bank of Nigeria (CBN) window, the exchange rate remained lower, with the Dollar trading between ₦1,465 and ₦1,479.

Market observers note that the widening gap between the official and parallel market rates highlights ongoing forex challenges and speculative trading in the country.

The CBN has repeatedly warned Nigerians against dealing in the parallel market, insisting that all forex transactions should be conducted through authorized banks.

However, many Nigerians continue to rely on the black market due to difficulties accessing foreign currency through official channels.

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