Do you know the CBN official rate for the dollar to naira today? Here is a comprehensive update on the Central Bank of Nigeria (CBN) USD to NGN rate for Tuesday, April 8, 2025.
The CBN official exchange rate plays a vital role in Nigeria’s economy. It affects international trade, investment, government transactions, and the financial market. Unlike the black market, CBN rates are the most stable and recognized by regulatory institutions.
CBN Dollar to Naira Rate Today, April 8, 2025
According to the latest update from the Central Bank of Nigeria’s official website:
- 1 USD = ₦1667.02 NGN
- Date: April 8, 2025
- Source: CBN Official Website
This rate is used primarily for government-approved transactions and official imports
Historical CBN USD/NGN Rates (Past 7 Days)
Here’s a snapshot of how the official dollar to naira rate has moved in the last one week:
| Date | USD to NGN (CBN Rate) |
|---|---|
| April 8, 2025 | ₦1667.02 |
| April 7, 2025 | ₦1667.02 |
| April 6, 2025 | ₦1667.02 |
| April 5, 2025 | ₦1667.02 |
| April 4, 2025 | ₦1659.23 |
| April 3, 2025 | ₦1650.10 |
| April 2, 2025 | ₦1645.90 |
This trend shows a relatively stable exchange rate at the official window.
Understanding the Difference Between CBN and Black Market Rates
While the CBN rate is used for formal transactions, the black market (Aboki FX) rate is often higher. For example:
- CBN Rate: ₦1667.02
- Black Market Rate (April 8): Buying ₦1565 | Selling ₦1580
This discrepancy can be attributed to limited access to official forex and demand in the informal market.
Who Uses the CBN Exchange Rate?
- Commercial banks for import transactions
- Government agencies
- Foreign investors
- Businesses with official forex allocations
How to Get the CBN Rate?
To benefit from the CBN official rate, your transaction must be processed through a Nigerian commercial bank with proper documentation and approval.
CBN Rate vs. Parallel Market: What It Means for You
For most Nigerians who depend on the black market for forex, the CBN rate might seem out of reach. However, it is still the benchmark used for:
- Setting economic policies
- Budget planning
- Customs duty calculations
Final Thoughts
The official CBN Dollar to Naira exchange rate today, April 8, 2025, stands at ₦1667.02. It reflects the government’s ongoing efforts to stabilize the currency despite market pressures. If you want to access forex at the CBN rate, ensure your transactions are properly documented and go through official channels.
Stay tuned to our daily exchange rate updates, including:
We’re here to help you stay informed in a volatile forex market.
Disclaimer: This article is for informational purposes only. Exchange rates may vary depending on market conditions and sources.