By Adenike Lawal
The naira came under renewed pressure on Sunday, September 28, 2025, as it slipped further against the U.S. dollar in the parallel market.
Forex traders in Lagos quoted the greenback at ₦1,505 for sale and ₦1,485 for purchase, reflecting persistent demand for hard currency.
While the Central Bank of Nigeria (CBN), has repeatedly warned that black-market rates are unregulated and should not guide legitimate transactions, pressure continues to mount on the currency.
At the official window, the dollar traded between ₦1,471 and ₦1,487, showing a narrower spread than in the street market.
Analysts, however, note that actual rates vary across locations and timeframes, depending on demand and negotiation power.
The latest fluctuation highlights the volatility of Nigeria’s forex market and the widening gap between official and parallel rates.
