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Black Market Dollar to Naira Exchange Rate Today, Friday, February 6, 2026
The parallel market exchange rate between the United States dollar and the Nigerian naira held steady on Friday, February 6, 2026, as trading activities across major commercial centres showed minimal volatility. The informal market, commonly known as the black market, continued to operate at a premium above the official foreign exchange window.
Currency traders and Bureau De Change operators indicated that the dollar was exchanged at an average selling price of about ₦1,450 per dollar, while the buying rate hovered between ₦1,430 and ₦1,440 per dollar. These figures reflect a stable pattern compared with rates recorded earlier in the week.
Ejes Gist News reports that the gap between the official exchange market and the parallel market persists despite ongoing monetary policy adjustments by the Central Bank of Nigeria (CBN). Demand pressures from importers, students, and travelers continue to influence pricing in the informal segment.
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At the official market, the naira traded at significantly lower levels, with rates within the range of ₦1,366 to ₦1,367 per dollar at the Nigerian Foreign Exchange Market. The spread between both markets remains a key indicator of liquidity constraints and access to foreign currency.
Factors Influencing the Black Market Rate
Exchange rate movements in the parallel market are shaped by several variables, including:
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- Availability of foreign currency supply
- Demand from importers and businesses
- Diaspora remittances
- Speculative trading activities
- Monetary policy signals from the CBN
Dealers in Lagos, Abuja, Port Harcourt, and other commercial hubs reported calm trading conditions, with no significant spikes in demand observed during the day.
Reference Rates for February 6, 2026
- Selling Rate: Approximately ₦1,450 per US dollar
- Buying Rate: Approximately ₦1,430 – ₦1,440 per US dollar
Market analysts note that the relatively narrow trading band suggests a period of temporary stability, although fluctuations remain possible depending on broader economic conditions.
Important Notice to Forex Users
Black market exchange rates are not regulated and can differ based on location, transaction volume, and negotiation between buyers and sellers. Individuals and businesses engaging in foreign exchange transactions are advised to confirm prevailing rates directly with dealers before making financial commitments.
The foreign exchange market remains sensitive to policy changes and economic developments, making daily monitoring essential for accurate decision-making.
