Naira dey trade around ₦1,450 for Nigeria official Nigerian Foreign Exchange Market (NFEM) on Friday, November 21, 2025, while Lagos black market rate stand between ₦1,460 (buy) and ₦1,474 (sell).
Wetín Happen Today
Market trackers show say the official NFEM rate — wey be CBN volume-weighted price — remain stable for the mid-₦1,400 level.
But for Lagos parallel market, demand from importers, travellers and pipo wey dey collect dollar remittance still push the rate higher.
Why the Gap Still Dey
Analysts yarn say the spread between official and black market rates dey caused by:
Limited FX inflow enter official channels
Strong demand for dollar for import and personal transfer
CBN recent policy actions never fully close the space
Even though CBN don cut policy rate and dey intervene sometimes, the black market premium still dey waka its own way.
Wetín E Mean for Nigerians
Importers: Higher black market rate dey increase cost of bringing goods enter Nigeria.
Consumers: Businesses fit add the extra cost to product price.
Travel & Remittance: Pipo wey dey change money informally dey get fewer naira per dollar, which mean higher cost to do foreign transaction.
