CBN vs Black Market Rate in Nigeria Today
Compare CBN official rate vs parallel market. Understand the gap and its impact on your selling price as a merchant.
Live Exchange Rates
How much each currency is worth in Naira today
Reference rates, not transactional. Parallel and free market rates may differ.
What the gap means
The gap between CBN and parallel can exceed 30%. This means pricing at CBN rate and restocking at parallel rate would cost you 30% of your margin on every transaction.
Available rate types
CBN Official
Central Bank rate. Mostly unavailable for small businesses. Banks use this for select transactions.
Parallel Market
The actual rate most Nigerians use. Set by Bureau de Change operators and street traders.
Crypto P2P
USDT/NGN rate on platforms like Binance. Growing fast since the CBN banned direct crypto-bank transactions.
When to use each rate
CBN Official
Large corporate imports with Form M, government transactions, formal banking.
Parallel Market
Everyday business transactions, small imports, retail pricing.
USDT P2P
International payments, tech industry, freelance income, large transfers.