Aboki Naira to Dollar Black Market Exchange Rate Today, 3rd July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, continues to reflect the economic pressures facing Nigeria’s informal forex market.

As of today, July 3, 2025, Bureau De Change (BDC) operators across major cities like Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira black market rate at approximately ₦1,557 for buying and ₦1,567 for selling, according to reliable sources.

These figures indicate a slight dip from yesterday’s rates, which stood at ₦1,565 for buying and ₦1,570 for selling, as reported by industry sources in Lagos. The marginal fluctuation underscores the volatility of the parallel market, driven by supply and demand dynamics, currency scarcity, and Nigeria’s reliance on imports.

In specific markets, such as Abuja’s Wuse Zone 4, some dealers have quoted slightly higher rates, with dollars being bought at ₦1,585 and sold at ₦1,600 in recent days, highlighting regional variations. The black market, operating outside the Central Bank of Nigeria’s (CBN) official channels, remains a critical avenue for many Nigerians and businesses seeking foreign currency for international transactions, travel, and importation.

Economic analysts note that the persistent gap between official and black market rates is fueled by limited foreign exchange reserves and high demand for dollars, which the official market struggles to meet. Some projections warn that the Naira could approach ₦2,000/$1 in the near future if current economic trends persist.For context, the official exchange rate, as reported by platforms like Wise, stood at approximately ₦1,543.21 per USD on July 2, 2025, reflecting a significant disparity with the black market rates.

The CBN continues to advise individuals to use official channels for forex transactions, cautioning against the legal and financial risks associated with the parallel market, including potential scams and counterfeit currency.

However, experts emphasize the importance of caution and due diligence when engaging with informal traders. As Nigeria’s economic landscape evolves, the Aboki black market rate remains a vital indicator of the Naira’s performance and the broader challenges facing the nation’s economy.

Stakeholders continue to monitor the situation closely, with hopes for policies that could stabilize the currency and reduce reliance on the parallel market.