What is the difference between the official rate and the black market rate for 100 dollars in Naira?

The exchange rate between the official rate and the black market rate for 100 dollars in Naira has significant implications for remittance businesses. In Nigeria, the official rate is set by the Central Bank of Nigeria (CBN), and it is often much lower than the black market rate, which is determined by supply and demand. This disparity can affect remittance inflows, as people seek better rates in the unofficial market.

For remittance businesses, understanding this difference is crucial. While the official rate is what financial institutions and banks use, many individuals may turn to the black market for a higher value in Naira. This creates an opportunity for remittance businesses to offer more competitive services and cater to those seeking the best exchange rates.

It is important for customers sending remittances to be aware of these exchange rate differences. Depending on the rate they use, the value of the remittance they receive can vary significantly. This is why understanding the dynamics of both markets is key for remittance businesses and customers alike.

What is the price of 100 dollars in the black market in Lagos today?

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In the vibrant remittance landscape, knowing the current parallel market rate in is crucial for senders and receivers alike. As of today, on the black‑market (also called the “parallel” or “aboki” market) a sum of US $100 is fetching approximately **₦146,000 NGN** when sold.

100$ Dollar to Naira Black Market Rate 12 November 2025](https://nairatoday.com/100-dollars-to-naira-black-market-rate?utm_source=chatgpt.com)** · *nairatoday.com* · 2025/11/13 > Today, a sum of $100 would be worth ₦146,000 in black market, Lagos, Nigeria. If you want to sell 100 dollars in the black market, you are going to get ₦145,000 ...

This figure reflects a rate of about ₦1,460 to the USD $1 — significantly higher than many official bank or central bank rates. Because informal market rates are shaped by supply & demand dynamics, especially the availability of foreign exchange, they can move quickly and vary by location. Dollar to Naira parallel market exchange rate is between ₦1453 and ₦1457 with an average of ₦1,455.00 in Nigeria today on 11/11/2025, according to 3 buy rates ...

For remittance‑business operators looking to serve Nigerians sending funds from abroad, these figures matter for competitive pricing, margin management, and communication with end recipients in Nigeria. It’s wise to continuously monitor updates from multiple sources, clearly disclose whether the rate quoted is official or parallel, and advise recipients that cash‑out or conversion may differ locally.

Bottom line: if someone hands over US $100 on the Lagos black market today, they should expect around ₦146,000 NGN — but remind them it’s not a guarantee, and official channels may yield different values.

 

 

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