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Thinking about swapping your currency? Before you head out, it is important to know that there are two different "markets" for the Dollar in Nigeria, and they do not charge the same price.
1. The Parallel Market (Street Rate) In the Lagos black market today, the price has settled at a high point. If you are dealing with independent traders:
Selling Price: They are selling to you at ₦1,450 per dollar.
Buying Price: They will take your dollar from you at ₦1,435.
2. The Official Government Rate The Central Bank of Nigeria (CBN) does not officially support the black market. Their rates today are much lower, with the highest price being ₦1,360 and the lowest being ₦1,352.
A Quick Note: These prices can change at any time or vary slightly depending on your location. It is always a good idea to confirm the final price with your bank or trader before you finalize any deal.
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