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Dollar to Naira Black Market Exchange Rate Today, Wednesday, October 15th 2025

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The Naira continued to weaken slightly against the United States dollar on Wednesday as demand for foreign currency persisted in the informal foreign exchange market.....TAP TO CONTINUE READING

As of October 15th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,495 per dollar for buying and ₦1,505 per dollar for selling, according to traders across Lagos, Abuja, and Port Harcourt.

The marginal depreciation underscores sustained pressure on the local currency, with importers, travelers, and investors still turning to the parallel market to source dollars amid limited supply at official channels.

Dollar to Naira Black Market Rate Overview
Date Market Type Buying (₦) Selling (₦) Change
Wednesday, Oct 15 2025 Black Market 1,495 1,505 -₦5 ▼
Tuesday, Oct 14 2025 Black Market 1,490 1,500 –
Official (CBN) — — — See CBN

Rates compiled from market operators and verified by Investors King.
How Much Is Dollar to Naira Today in Black Market

As of this morning, the Dollar to Naira Black Market rate shows operators buying dollars at ₦1,495 and selling at ₦1,505. Although the movement appears modest, it highlights continued volatility and the pressure on Nigeria’s forex system, where black-market activity remains dominant due to restricted dollar access at official windows.

For the official exchange rate, check the Central Bank of Nigeria (CBN).

Drivers Behind the Current Exchange Rate

The persistent weakness of the Naira is being shaped by several market and macroeconomic factors:

Strong Dollar Demand: Importers and manufacturers continue to seek foreign exchange for raw materials, leading to constant pressure on the Naira.

Limited Supply: Tight dollar availability from official channels pushes businesses and individuals to the black market.

Speculation: Many traders continue to hoard dollars, anticipating further depreciation in the coming weeks.

Oil Market Volatility: Nigeria’s reliance on crude oil earnings means any drop in oil prices directly affects forex inflows.

Inflationary Pressures: Rising inflation weakens consumer confidence and prompts hedging in foreign currency.

Economic Impact of the Dollar to Naira Black Market

The widening exchange-rate gap between the official and parallel markets continues to influence inflation and investment flows:

Importers: Higher exchange costs increase the price of imported goods, pushing inflation upward.

Consumers: Elevated costs for food, fuel, and essentials continue to erode purchasing power.

Businesses: Volatile rates make long-term financial planning difficult and reduce profit margins.

Students and Travelers: Nigerians paying for tuition or travel expenses abroad must budget more due to higher conversion rates.

Analysts maintain that aligning the official and black-market rates through consistent policy reforms and improved dollar supply is key to stabilizing the economy.
Market Outlook

Experts expect the Naira to trade within a narrow range for the rest of the week as dollar demand stays high and liquidity remains thin. However, upcoming remittance inflows and potential CBN interventions could provide temporary relief.

To achieve long-term stability, Nigeria will need to expand its non-oil exports, attract more foreign direct investment, and ensure policy consistency that rebuilds investor confidence.
Conclusion

The Dollar to Naira Black Market exchange rate today, Wednesday, October 15th 2025, stands at ₦1,495 for buying and ₦1,505 for selling. Despite the slight decline, the Naira continues to show signs of pressure across multiple trading channels.

For reliable daily updates on Dollar to Naira movements, visit Investors King, Aboki Forex, and the CBN.

Nigeria’s forex landscape remains delicate, with stability hinging on stronger inflows, policy clarity, and effective coordination between fiscal and monetary authorities.

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Oyo police intercepts truck conveuing explosives in Saki

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The Oyo State Police Command has announced an operational success recorded following an intelligence-led operation.....TAP TO CONTINUE READING

Acting on credible intelligence, operatives of the Command intercepted a truck conveying materials suspected to be explosive devices during a stop-and-search operation in Saki, Oyo State. The truck and the suspected materials were promptly secured and are currently in police custody.

Upon receiving a briefing on the development, the Commissioner of Police, Oyo State Command, CP Femi Haruna, immediately ordered a comprehensive investigation into the matter.

Consequently, specialised personnel of the Explosive Ordnance Disposal (EOD) Unit and the Chemical, Biological, Radiological and Nuclear (CBRN) Unit were deployed to safely secure the items for safekeeping and forensic examination. Detailed forensic analysis has since commenced, alongside a thorough and robust investigation to determine the exact nature of the items and their intended use.

The truck driver has been taken into custody and is cooperating fully with investigators as efforts continue to unravel all the circumstances surrounding the incident.

The Commissioner of Police commended the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, for his unwavering support, strategic leadership, and continued provision of operational guidance that enhance proactive, intelligence-driven policing across the country.

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Benue: Armed bandits kill motorcyclist, injure woman in Apa LGA

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One person has died and another sustained injuries following an assault by suspected armed bandits in Apa Local Government Area of Benue State.....TAP TO CONTINUE READING

According to sources, the attack took place on January 24 around 4:00 p.m. along the Amoke–Odugbo road in Ukpogo Village, Edikwu Ward.

The victims, identified as Mr Joseph Okoh and Miss Aneh Sunday, both from Ogodumo, Adoka in Otukpo LGA, were reportedly riding a motorcycle when the assailants struck.

“They were rushed to the Comprehensive Health Centre, Ugbokpo, where Mr Okoh was confirmed dead while receiving treatment. Miss Sunday is currently admitted and responding to treatment,” the source stated.

Nigerian troops were quickly deployed to the area, and a search operation in the surrounding bushes is ongoing to apprehend the attackers.

“The Criminal Investigation Department has commenced an investigation into the incident,” the source added.

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2026 UTME: JAMB scraps special privileges for albino candidates over malpractices

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The Joint Admissions and Matriculation Board has scrapped special concessions and registration procedures previously granted to candidates with albinism for the 2026 Unified Tertiary Matriculation Examination, citing abuse of the privilege to perpetrate examination malpractice.....TAP TO CONTINUE READING

The Board also warned faith-based tertiary institutions to clearly declare their religious status at the point of admission, saying it is deceptive to present as secular and later impose religious rules on students.

As reported by Vanguard, these decisions were taken on Saturday at a meeting between JAMB management, led by its Registrar, Prof. Isaq Oloyede, and Commissioners for Education from the 36 states of the federation and the Federal Capital Territory, held in Ikeja, Lagos.

Oloyede said the meeting was convened to review and assess previous admission exercises.

He noted that despite safeguards introduced by the Board, some individuals remained determined to circumvent the system.

“We have stopped some concessions we gave albino candidates. This is because some are using artificial intelligence to manipulate the registration process to look like they are albinos because of the consideration we gave them.

“Last year alone, over 7,000 claimed to be albinos. We have stopped special registration procedures for albinos,” he said.

Addressing complaints from candidates admitted into some private institutions over compulsory religious instruction, Oloyede urged faith-based schools to be transparent.

“Faith-based institutions should declare from the onset what they are, so that whoever applies there will know what he is going to meet there. But some don’t do that. They will pretend to be secular, but once students are admitted, trouble will begin over religious instruction and injunctions.

“If you are a faith-based institution, say so. The law allows you to set up faith-based schools,” he said.

On last year’s UTME, where the highest-scoring candidate was later found to be a 300-level university student, the JAMB registrar said investigations showed that some undergraduates sit for the examination to change courses or assist others to secure admission.

“Students who are already in school but want to change courses and are applying again must declare and disclose their status.

“We have found that some candidates already in school are writing the examination for other candidates. Last year, the candidate who scored the highest was found to be a 300-level student in the university.

“Henceforth, any candidate found engaging in such an act, and who fails to disclose that he is already in school but wants to change course, will be disqualified and will also lose his current admission,” he said.

On admission criteria, Oloyede explained that federal government-owned institutions allocate 45 per cent on merit, 20 per cent on catchment area, 20 per cent to educationally disadvantaged states, while the remaining slots are allocated to other considerations.

“Each owner or state has the right to decide what its admission criteria will be. But for states, we encourage them to allocate at least 10 per cent to merit, regardless of where the candidates come from.

“This is to diversify the student population and admit eggheads from different communities,” he said.

He criticised some states for establishing new universities despite not fully utilising their admission quotas in existing federal institutions.

On underage candidates, Oloyede said 16 years remained the minimum admission age, noting that an attestation process was in place for exceptional cases.

“Last year, about 42,000 claimed to be underage. After evaluation, only 78 met the criteria and were admitted. We are not saying there are no talented candidates, but the figure looks outlandish,” he said.

The issue of how to engage underage candidates during a gap year divided opinions at the meeting, but a majority voted for JAMB to continue its special assessment process.

The meeting also observed that parental pressure on children to complete their education too quickly was a major contributor to the problem.

On efforts to curb examination malpractice, Oloyede said JAMB had stopped the movement of computers between Computer-Based Test centres.

“A computer registered in a particular centre will remain there and is not transferable to another centre. Some people borrow computers to get accredited and later move them around,” he said.

He dismissed claims that candidates were posted to towns they did not choose, saying personal data used for registration were drawn directly from the National Identification Number submitted by candidates.

Providing an update on the 2025 UTME, Oloyede said 974,855 candidates had so far been admitted out of about 1.95 million who sat for the examination.

He added that over N2.4 billion had been disbursed to institutions that consistently complied with JAMB’s rules over the past 10 years, and that the meeting agreed that schools producing the best candidates should be compensated.

On accreditation of CBT centres, Oloyede said the process involved teams comprising university vice-chancellors, rectors and provosts in each state.

He warned state governments against agreements with private promoters who might use centres to facilitate malpractice.

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