The Naira continues to trade under pressure against the United States Dollar, British Pound, and Euro. For individuals and businesses alike, keeping an eye on the daily exchange rate has become essential, especially as differences remain between the Central Bank of Nigeria (CBN) official rate and what is obtainable in the parallel market.
How Much Is Dollar to Naira Today?
Figures from the Central Bank of Nigeria place the "sell / buy" rate for USD at about ₦1,487.37 as of 23 September 2025.
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However, checks on Wise.com, which tracks real-time street and peer-to-peer transactions, show the greenback exchanging at about ₦1,518 per $1 in the parallel market.
How Much Is Pounds to Naira Today?
The British Pound continues to outpace the Dollar in value. At the CBN rate, the Pound is quoted at ₦2,036.96 per £1, while Wise reports the black market average at roughly ₦2,090 per £1.
Quick Reference:
- CBN Rate: ₦2,036.96 → £1
- Parallel Market Rate: ₦2,090 → £1
How Much Is Euro to Naira Today?
For the Euro, the CBN puts the official exchange at ₦1,622.48 per €1. Wise, however, indicates that in the black market, the Euro is trading at about ₦1,680 per €1.
Quick Reference:
- CBN Rate: ₦1,622.48 → €1
- Parallel Market Rate: ₦1,680 → €1
Why the Gap Between Official and Black Market Rates?
The difference between the two rates stems from Nigeria's foreign exchange policies. The official rate is pegged by the Central Bank and reflects controlled supply to commercial banks and authorised dealers. The black market, by contrast, is influenced by demand pressures, limited forex availability, and informal trading channels, which often push the price higher.
