/ Sep 30, 2026
/ Sep 30, 2026

Dollar to Naira exchange rate for October 24, 2025

Published on

By

The naira held firm at the official Nigerian Foreign Exchange Market (NFEM) fixing while continuing to trade weaker on the parallel (black) market on Friday.

At the NFEM (Investors & Exporters window) the US dollar was quoted near ₦1,460/$1, reflecting a modest intraday dip from earlier levels this week.

Meanwhile, the parallel market where retail cash dollars change hands  remained notably higher. Dealers in Lagos and other commercial centres quoted the greenback between₦1,495 and ₦1,515/$1, with reports saying some transactions were occurring as high as ₦1,515. That places the street average roughly around ₦1,500/$1.

What this means for businesses and consumers

Importers and corporates operating through official windows will generally see rates close to the NFEM fixing (≈₦1,460).

Individuals buying or selling cash on the streets face the higher parallel rates (≈₦1,495–₦1,515), increasing the cost of remittances, travel and dollar-priced goods.

Why the gap persists

The spread between the NFEM fixing and the parallel market continues to reflect differences in liquidity, access to official dollar supply and market sentiment. Policy moves by the Central Bank of Nigeria (CBN) — including interventions and recent monetary policy shifts — remain key influences on the official rate and market confidence. Analysts say continued central bank support for official windows has helped stabilise the NFEM fixing even as cash demand keeps parallel rates elevated.

Market outlook

Traders and analysts will watch weekly FX turnover, any fresh CBN dollar interventions and global dollar moves for cues. If official dollar supply through FMDQ/NAFEM increases, the NFEM fixing could stay stable or strengthen; conversely, persistent high cash demand could keep the parallel market premium in place.

You May Like

3 thoughts on “Dollar to Naira exchange rate for October 24, 2025”

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Must Read

Eid-el-Kabir: FG Declares May 27 and 28 public holidays

FG declares October 1 public holiday for Nigeria’s 66th anniversary

The Federal Government has declared Thursday, October 1, 2026, a public holiday to commemorate Nigeria’s 66th Independence Anniversary.   The Minister of Interior, Olubunmi Tunji-Ojo, announced the declaration on Wednesday on behalf of the Federal Government in a statement signed by the ministry’s Permanent Secretary, Magdalene Ajani. The minister congratulated Nigerians at home and abroad, urging citizens to use the occasion to promote unity, patriotism, peaceful coexistence and mutual respect. Tunji-Ojo also called on Nigerians to emulate the country’s founding fathers by demonstrating love for Nigeria and contributing to the development of a nation that future generations can be proud of. “As we celebrate 66 years of our independence, we should always remember that there is hope for our country and our diversity is our strength,” the minister said. He added that collective determination remained the foundation for building a stronger and more prosperous Nigeria. The 2026 Independence Anniversary is being celebrated under the theme, “From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity.” According to the Federal Government, the theme reflects its focus on consolidating ongoing reforms and translating their gains into greater opportunities and improved living conditions for Nigerians. The government also reaffirmed its commitment to strengthening national security, improving public safety and creating an environment where citizens can live and work with confidence. Tinubu to Address Nigerians President Bola Tinubu is expected to deliver a nationwide broadcast on Thursday as part of activities marking the 66th Independence Anniversary. The President returned to Lagos on Tuesday after concluding his working vacation in Europe and is expected to spend the Independence celebrations in the state. He is also expected to attend the premiere of a documentary on the late businessman and politician, Moshood Kashimawo Olawale Abiola, at the Wole Soyinka National Theatre in Lagos. According to the Presidency, Tinubu is further expected to hold political meetings in Lagos as preparations for the 2027 general elections continue. Nigeria at 66 Nigeria gained independence from British colonial rule on October 1, 1960, with Sir Abubakar Tafawa Balewa becoming the country’s first Prime Minister. The country became a republic in 1963, with Nnamdi Azikiwe serving as its first President. Nigeria later experienced periods of military rule and the Civil War before returning to constitutional democracy in 1999. The 2026 anniversary marks 66 years since independence and 27 years of uninterrupted constitutional democracy.
Read more

Editor's Pick

Trending News

Newsletter

Enter your email address and receive notifications of news by email.

You have been successfully Subscribed! Ops! Something went wrong, please try again.

© 2026 GongNews. All Rights Reserved.