Aboki Naira to Dollar Black Market Exchange Rate Today, 24th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, has seen slight fluctuations today, reflecting the ongoing dynamics in Nigeria’s parallel foreign exchange market.

According to sources at Bureau De Change (BDC) operators in major hubs like Lagos, Abuja, Port Harcourt, and Kano, the Dollar to Naira black market exchange rate on Thursday, July 24, 2025, stands at:

• Buying Rate: ₦1,530 per $1
• Selling Rate: ₦1,540 per $1

This represents a marginal increase from yesterday’s rates, where the dollar was bought at ₦1,525 and sold at ₦1,535, indicating a stable yet slightly upward trend in the parallel market.

The narrow spread of ₦10 between buying and selling rates suggests a balanced market with steady demand for foreign currency, driven by importers, travellers, and individuals seeking dollars for international transactions. The Central Bank of Nigeria (CBN) continues to caution against relying on the black market, emphasizing that it does not recognize the parallel market and urging Nigerians to conduct foreign exchange transactions through authorized banks to avoid risks such as scams or counterfeit currency.

However, the black market remains a critical source of dollars for many Nigerians due to limited access to foreign exchange through official channels. The official CBN rate, reported at approximately ₦1,534.75 on July 24, 2025, remains slightly below the black market rates, highlighting the persistent gap between official and parallel markets.

Economic analysts attribute the elevated black market rates to Nigeria’s heavy dependence on imports, constrained foreign exchange reserves, and high demand for dollars for purposes such as overseas education, travel, and importation of goods. “The black market continues to serve as a real-time indicator of the Naira’s performance under economic pressures,” said Chinedu Okeke, a Lagos-based financial analyst.

“While the CBN’s interventions have helped stabilize the official rate, the parallel market reflects the true supply and demand dynamics.” For context, converting $100 to Naira at today’s black market selling rate yields approximately ₦154,000, while $1,000 would fetch around ₦1,540,000.

Nigerians are advised to compare rates across different BDC operators, as slight variations may occur based on location and transaction volume.

However, users are encouraged to verify rates with trusted local dealers before engaging in transactions. As Nigeria navigates its foreign exchange challenges, the Aboki rate remains a vital barometer for millions of Nigerians and businesses alike.