Where dis rate dey come from?

Black market rate dey collected daily from BDC operator for Lagos (Wuse Zone 4 Abuja, Broad Street, Allen Avenue, Computer Village). CBN official rate dey come from CBN Nigerian Foreign Exchange Market (NFEM) window. Rate na indicative average.

Why dollar dey expensive for Naija?

Naija dey earn around $35-40B/year from oil export but di economy demand $50-60B for import plus capital flow. Di shortfall dey filled by parallel (black) market where supply and demand dey set price, no be policy.

🇪🇺400 Euro to Naira

Today exchange rate: 400 € = ₦660,000

Black market sell

₦660,000

Black market buy

₦644,000

CBN official

₦634,204

🛒 Wetin you fit buy with ₦660,000 for Lagos?

🍚

bag of rice (50kg)

for ₦61,625/bag

🏠

month rent for Alimosho

for ₦80,000/month

🏠

month rent for Yaba

for ₦250,000/month

⚡

month of Band A light

for ₦285,000/month

🎓

year for public university

for ₦350,000/year

🐔

111

kg of chicken

for ₦5,900/kg

Reverse: Naira to Euro

₦660,000 = €400 for black market rate

Quick conversion table

Amount	Black market	CBN
€1	₦1,650	₦1,586
€5	₦8,250	₦7,928
€10	₦16,500	₦15,855
€50	₦82,500	₦79,276
€100	₦165,000	₦158,551
€500	₦825,000	₦792,755
€1,000	₦1,650,000	₦1,585,510
€5,000	₦8,250,000	₦7,927,550
€10,000	₦16,500,000	₦15,855,100

💱 Currency Converter

Amount

From currency

Black market (sell)

₦660,000

Black market (buy)

₦644,000

CBN official

₦634,204

Spread: +₦25,796 extra naira wey you go pay vs CBN official rate

Frequent Questions

CBN rate na di official rate wey Central Bank of Nigeria set for licensed bank and importer. Black market rate na di rate wey BDC operator dey use, where most ordinary Nigerian dey buy currency. Black market rate dey usually higher because of dollar scarcity for official channel.

Important Disclaimer

Di parallel market ("black market") exchange rate wey dey dis page na from Bureau de Change (BDC) operators for Lagos and na for informational purposes only. Dis rate na indicative average and fit different from di rate wey you go get for actual transaction.

Lagos.cool NO dey trade, buy, sell, or exchange any currency. We na information platform only. We no endorse or facilitate any foreign exchange transaction. For currency exchange, please use licensed BDC, your bank, or authorized financial institution.

Central Bank of Nigeria (CBN) no recognize parallel market. Di official CBN rate na di rate wey dey available through authorized financial institution. Exchanging currency outside official channel carry risk including fraud, counterfeit, and legal wahala. Always verify rate before you transact.

Rate dey update daily but fit change multiple times within one day. Lagos.cool no guarantee accuracy or timeliness. Exchange rate no be financial advice.