What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Mallams.NG fx)?
See the black market Dollar to Naira exchange rate for 12th June, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Mallams.NG dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦1580 and sell at ₦1584 on Thursday 12th June, 2025, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦1580 |
| Selling Rate | ₦1584 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | ₦1546 |
| Lowest Rate | ₦1538 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Africa’s richest man, Aliko Dangote, is stepping down as Chairman of Dangote Sugar Refinery Plc, bringing to a close two decades of transformative leadership at the helm of one of Nigeria’s largest sugar producers.
KRYPTO.NG reports that his retirement, announced on Wednesday in a corporate disclosure signed by the company’s secretary, Temitope Hassan, takes effect from June 16, 2025.
Dangote, who has chaired the board since 2005, is credited with transforming the sugar firm into a dominant player in Nigeria’s food and beverage sector, spearheading landmark expansion projects and championing the company’s Backward Integration Programme across Adamawa, Taraba, and Nasarawa States to boost local production and reduce reliance on sugar imports.
“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors of the Company, Alhaji Aliko Dangote (GCON), effective June 16, 2025,” the statement read.
Following Dangote’s exit, the board has named Mr. Arnold Ekpe, a renowned banker and former Group CEO of Ecobank, as the incoming chairman.
“Following a rigorous selection and transition process, the Board is pleased to announce the appointment of Mr. Arnold Ekpe, Independent Non-Executive Director, as the new Chairman of Dangote Sugar Refinery Plc, effective 16th June 2025,” the statement added.
Ekpe, known for his extensive experience in finance and corporate governance, is expected to steer the company through its next phase of strategic growth.
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