The current black market exchange rate for 1 US Dollar (USD) to Nigerian Naira (NGN) is approximately 1622 to 1625 Naira as of May 22, 2025. This means you can get around 1622 to 1625 Naira for every 1 US Dollar exchanged on the black market
. This rate is higher than the official exchange rate due to the unregulated nature of the black market. The black market rate fluctuates based on supply and demand, political and economic conditions in both the US and Nigeria, and the overall value of the US Dollar
. Here is a brief rate summary:
Date| Buy Rate (NGN)| Sell Rate (NGN)
---|---|---
May 22, 2025| 1622 - 1625| 1625
For example, exchanging $100 would yield about 162,200 Naira on the black market
. Be cautious when exchanging currency on the black market due to risks of scams, and try to deal with reputable dealers if you choose to use this market
