The Nigerian Naira continues to face pressure as the dollar trades between ₦1448 and ₦1456 at the Central Bank of Nigeria (CBN) official window on December 8, 2025.
Traders have reported that rates may differ slightly depending on location, negotiation, and the volume of transactions.
Despite the regulated band maintained by the CBN, many Nigerians continue to rely on the parallel market for foreign exchange due to limited access to official channels.
Authorities have consistently advised the public to transact through authorised financial institutions, warning that rates from the black market are not recognised for official dealings.
In Lagos, black market operators held rates steady, maintaining benchmarks recorded late on December 7. Demand for dollars remains high across major markets, driven by individuals and businesses seeking to meet various financial obligations.
Forex traders also caution that buyers and sellers confirm prevailing rates before completing transactions, as variations can occur based on negotiation and transaction size.
The CBN continues to monitor the forex market to maintain stability and reduce the spread between official and parallel market rates.
