Aboki Naira to Dollar Black Market Exchange Rate Today, 4th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), popularly known as the “Aboki” rate, continues to be a focal point for Nigerians navigating the country’s challenging economic landscape.

As of today, July 4, 2025, Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira black market exchange rate at approximately ₦1,560 for buying and ₦1,570 for selling, according to reliable industry sources.

This represents a marginal fluctuation from yesterday’s rates, which were reported at ₦1,557 for buying and ₦1,567 for selling on July 3, 2025, indicating slight stability in the parallel market. The black market, operating outside the Central Bank of Nigeria’s (CBN) official channels, remains driven by supply and demand dynamics, with rates influenced by factors such as limited foreign exchange reserves, high demand for dollars for importation, travel, and international payments, and Nigeria’s ongoing economic pressures.

For comparison, the official exchange rate, as reported by platforms like Wise, was approximately ₦1,543.21 per USD on July 2, 2025, highlighting the persistent gap between official and black market rates. Economic analysts note that this disparity is fueled by the CBN’s constrained foreign currency supply, pushing individuals and businesses to the parallel market where dollars are more accessible, albeit at higher rates.

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, reflecting regional variations due to the unregulated nature of the black market.

The CBN has repeatedly cautioned against using the black market, citing risks such as scams and counterfeit currency, and encourages individuals to access forex through official channels. However, the limited availability of dollars in the formal market continues to drive activity to the parallel market.

Experts warn that without significant policy interventions to boost foreign exchange reserves and address import dependency, the Naira could face further pressure, with some projections suggesting a potential climb toward ₦2,000/$1 in the near future if current trends persist.

For those engaging in currency exchange, experts advise caution and due diligence to avoid fraud. Nigerians are encouraged to compare rates across trusted platforms and local BDC operators to secure the best deals.

As the economic situation evolves, the Aboki black market rate remains a critical indicator of the Naira’s performance and the broader challenges facing Nigeria’s economy.

Disclaimer: Black market exchange rates are unofficial and subject to rapid fluctuations. Always verify rates with trusted local dealers before engaging in transactions.