Lagos, Nigeria – E be like say naira don decide to waka for black market again. As we enter Monday, November 24, 2025, the unofficial forex market show say naira dey weaker pass wetin dem dey call official rate for Nigerian Foreign Exchange Market (NFEM). E be like say even naira don tire for this race.
Wetin be the black market rates? Abeg, make I break am down for you: Dealers dey buy from public for ₦1,450 to ₦1,460 per dollar. But if you wan sell, you go jolt am for ₦1,470 to ₦1,480 per dollar. Omo, na true say this rates fit vary small small based on where you dey, whether na Lagos, Abuja, or Kano. No be say everybody fit dey collect the same price sha!
But wetin sabi concern us more be say, the official Investors’ and Exporters’ (I&E) Window rate close around ₦1,452.68 per dollar for November 23. That one no be say dem dey chop money for the black market without reason o, but e mean say demand for foreign currency for our people wey dey do small small trade still dey come from black market.
As Nigeria’s foreign exchange market dey show mixed signals dis past week, naira still dey struggle as demand pressure dey hammer am left and right. E get as external reserves don increase small from $43.64bn to $44.19bn as of Thursday. But wetin we go do with all dis money if naira no fit waka properly?
Currency traders dey keep eye for Central Bank of Nigeria (CBN) next move, especially concerning wetin dem go do about liquidity injections and interest rate adjustments. Everybody dey watch am like say na live football match.
So, as things dey hot for naira, make sure say you dey follow the news! No let anybody chop your money for black market, o! E fit cost you more than you expect. Dis currency matter fit make person sing blues if e no dey careful.
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