Connect with us

Breaking News

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

Published

on

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.

Read The Full Article Here Now

 
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking News

See Who Dem Wan Make Awujale – Kwam 1 Under Fire for Praising Convicted Nigerian Fraudster, Abidemi Rufai

Published

on

Fuji music icon, Alhaji Wasiu Ayinde Marshal better known KWAM1, is facing intense backlash after a viral video showed him openly praising Abidemi Rufai, the former aide to Ogun State Governor Dapo Abiodun who was convicted of fraud in the United States.....TAP TO CONTINUE READING

Rufai was sentenced by the U.S. District Court for the Western District of Washington, Tacoma, on September 26, 2022, for wire fraud and aggravated identity theft. According to court records, he used stolen identities to attempt to defraud the U.S. government of nearly $2.4 million, including about $500,000 in COVID-19 unemployment benefits.

Acting U.S. Attorney, Tessa M. Gorman, revealed that Rufai operated under the alias “Sandy Tang” to illegally obtain over $350,000 from the Washington State Employment Security Department, among other offences.

After serving his sentence, Rufai was released from the U.S. Bureau of Prisons facility in Fort Dix, New Jersey, on November 15, 2024. He later returned to Nigeria.

However, public outrage erupted when KWAM1 was seen in a recent event showering praises on Rufai, despite the seriousness of his crimes. The video has sparked disappointment across social media, with many criticising the Fuji star for celebrating a figure with such a controversial past.
Abidemi Rufai

Watch video below;

Reacting, one user said: “See who dem wan make e b awujale.”

Another remarked: “Se nah d wasiu wey they eye Oba for ijebu be this …..omo.”

One added: “Not surprised. That’s why the world never takes us seriously. We celebrate CRIMINALITY and PUNISH Law abiding Citizens. Until we do what’s right and necessary, We are a Joke!”

One stated: “People just worship money more this days.”

One added: “Nigeria,a country where criminals are heavily celebrated. Very soon he’ll contest for governor and actually win. This is Nigeria!”

Read The Full Article Here Now

 
Continue Reading

Breaking News

BREAKING NEWS: Finally Police Service Commission, Police Open Portal For Recruitment Of 50,000 Constables

Published

on

The Police Service Commission (PSC), in collaboration with the Nigeria Police Force (NPF), has announced the commencement of recruitment for 50,000 Police Constables, following the directive of President Bola Ahmed Tinubu to strengthen community policing and boost internal security nationwide.....TAP TO CONTINUE READING

In a statement issued on Thursday, the Commission said the recruitment portal will officially open on Monday, 15 December 2025, and will remain active until Sunday, 25 January 2026, inviting applications from qualified Nigerians.

According to a statement signed by Torty Njoku Kalu, Head of Protocol and Public Affairs, on 11 December 2025., applicants for the General Duty cadre must possess GCE Ordinary Level, SSCE/NECO or equivalent qualifications with at least five credits, including English Language and Mathematics, obtained in not more than two sittings.

For the Specialists cadre, candidates are required to have a minimum of four credits, including English and Mathematics, as well as three years of relevant experience and the necessary Trade Test certificates.

Eligibility requirements include Nigerian citizenship by birth, age limits of 18 to 25 years for General Duty and 18 to 28 years for Specialists, and being medically, physically and psychologically fit. Height requirements of 1.67m for males and 1.64m for females apply to General Duty applicants.

The PSC emphasized that the recruitment exercise will be conducted transparently and strictly on merit, warning applicants to beware of fraudsters, as no payment is required at any stage of the process.

Detailed guidelines and the application link will be available on the official portal — www.npfapplication.psc.gov.ng — from December 15, as well as on the official websites and social media platforms of both the Police Service Commission and the Nigeria Police Force.

The Commission encouraged eligible Nigerians to take advantage of the opportunity to contribute to national security.

Read The Full Article Here Now

 
Continue Reading

Breaking News

“I beat federal might before and I’ll do it again” – Gov Adeleke dismisses APC ahead of Osun guber

Published

on

Osun governor Ademola Adeleke has dismissed concerns over facing the All Progressives Congress (APC) in the 2026 governorship election, saying he has already defeated “federal might” once and is confident of doing so again.....TAP TO CONTINUE READING

Adeleke spoke on Wednesday during an interview on Channels Television’s Politics Today.

He said his defection from the Peoples Democratic Party (PDP) to the Accord Party was motivated by the need to protect his safety and ensure stability in Osun.

He said he still holds the PDP in high regard but chose a platform that would guarantee continuity of his administration’s programmes.

He said: “It’s not true that I abandoned PDP. I love PDP, but I have to protect myself. I have to make sure I protect my state because of the good work we’ve been doing so that we can continue.”

Adeleke secured the Accord Party governorship ticket on Wednesday, one day after formally joining the party.

He will face candidates from the APC, PDP and a coalition in the African Democratic Party in what is expected to be a competitive 2026 contest.

Adeleke said he is confident that voters will judge candidates based on performance, not party labels.

He said: “Osun people are wiser. They know the difference between good governance and bad governance, and they have decided to toe the Imole path; it is me they are talking about. We are not even talking about parties right now; the party is just the platform.”

He argued that his record in office gives him an advantage over his predecessors, saying unpaid salaries and hardship defined previous administrations.

He added: “I came in, I brought hope, I brought light to Osun State. So, my records, first of all, will speak for themselves.”

Speaking on fears that the ruling APC might deploy federal influence against him, Adeleke dismissed the idea, saying, “I beat federal might before and I’ll do it again.”

He said President Bola Tinubu won elections despite being in the opposition and he too had prevailed under similar circumstances.

He said: “Well, I believe our president is a democrat. He’s been in this position before. When he was in opposition, I learned a lot from him, too. He stood his ground, despite the fact that he was in opposition, and he still won. So why can’t I do that? I was in the opposition when I won last time, and it’s not going to be different.”

Adeleke said the electorate would determine the outcome of the 2026 poll, adding that he is assured of victory because of his track record and the people’s desire for continuity.

Read The Full Article Here Now

 
Continue Reading

Trending

All Right Reserved | Copyright © 2025 3ppleloaded News | Powered by 3ppleloaded.ng |