Aboki Naira to Dollar Black Market Rate Today, 30th April 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by Aboki Forex and other local sources, reflects ongoing fluctuations in Nigeria’s parallel currency market.

According to real-time data from currency dealers in key markets such as Lagos and Abuja, the Dollar to Naira black market rate stands at approximately ₦1,598 to ₦1,610 for selling and ₦1,590 to ₦1,600 for buying. These figures indicate a slight appreciation of the Naira compared to earlier this month, though the currency remains under pressure due to economic challenges.

The black market, often referred to as the parallel market, continues to play a significant role in Nigeria’s foreign exchange landscape, driven by high demand for dollars amidst limited supply in the official market. Currency traders in Abuja’s Wuse Zone 4 market and Lagos’ parallel market hubs reported stable trading activity, with minor variations in rates across different regions.

For instance, some dealers noted that rates in Lagos were slightly higher, with dollars being sold at up to ₦1,610, while Abuja markets averaged around ₦1,598 for selling.

Analysts attribute the Naira’s relative stability this week to recent policy measures by the Central Bank of Nigeria (CBN), including efforts to boost foreign exchange liquidity through non-oil export initiatives and stricter regulations on illegal cash transfers. The CBN’s unified exchange rate policy, which aligns the official Investors and Exporters (I&E) window with CBN rates, has also reduced the gap between official and black market rates, though disparities persist.

A trader in Lagos, who preferred anonymity, commented, “The market is calm today, but people are still rushing for dollars because of import needs and travel. If the government can bring more dollars into the system, the Naira might gain more ground.”

However, economic challenges such as inflation, government debt, and Nigeria’s reliance on imports continue to exert pressure on the Naira. Experts warn that without sustained reforms to address these structural issues, the Naira could face further depreciation, potentially nearing the projected ₦2,000/$1 mark in the coming months.

For Nigerians looking to engage in foreign exchange transactions, experts advise monitoring rates closely and comparing offers from trusted providers. Platforms like Aboki Forex and Monierate provide real-time updates on black market rates, while the CBN encourages the use of official channels to avoid legal risks associated with parallel market trading.

As the Naira navigates these turbulent waters, all eyes remain on the CBN’s next moves and global economic trends that could influence Nigeria’s forex market.

Disclaimer: Black market rates are unregulated and may vary across locations. Always exercise caution when engaging in currency exchange transactions.