The Dollar to Naira exchange rate at the black market (parallel market) on Tuesday, January 7, 2025, shows the dollar trading at ₦1661 for buying and ₦1665 for selling, according to Bureau De Change sources in Lagos.
However, the Central Bank of Nigeria (CBN) does not recognize the black market. Official rates range between ₦1531 and ₦1543, and individuals are encouraged to use banks for forex transactions.
Meanwhile, financial irregularities totaling ₦514 billion were uncovered in the Nigerian National Petroleum Company Limited (NNPCL) by the Auditor-General’s Office, raising concerns about compliance and accountability in public finances.