Aboki Naira to Dollar Black Market Exchange Rate Today, 9th September 2025

The black market exchange rate for the Nigerian Naira (NGN) against the US Dollar (USD) remains a focal point for traders and businesses across Nigeria.

As of today, September 9, 2025, reports indicate that the Aboki black market exchange rate stands at approximately ₦1,650 to $1, showing a slight fluctuation compared to previous weeks.

The parallel market, often referred to as the “Aboki” market due to the prominence of Hausa-speaking currency traders, continues to reflect the economic pressures impacting Nigeria’s foreign exchange landscape. The gap between the official Central Bank of Nigeria (CBN) rate and the black market rate remains significant, with the official rate hovering around ₦1,590 to $1, according to recent CBN data.

This disparity underscores ongoing challenges in accessing foreign currency through formal channels, driving demand for the black market. Market sources attribute today’s rate to persistent dollar scarcity, inflationary pressures, and speculative trading.

A Lagos-based currency trader, Musa Ibrahim, noted, “The dollar is tight right now. People are holding onto their dollars, waiting to see if the rate will climb higher.” This sentiment reflects the volatility that continues to characterize the black market.

The Nigerian government and the CBN have intensified efforts to stabilize the Naira, including recent measures to curb speculative trading and increase dollar liquidity in the official market. However, the black market remains a critical avenue for many Nigerians, particularly small-scale businesses and individuals needing foreign currency for imports, travel, or remittances.

Analysts urge caution when engaging in black market transactions due to the risks of fraud and regulatory scrutiny. The CBN has repeatedly warned that unauthorized currency trading is illegal, though enforcement remains challenging given the market’s widespread use.

As the economic landscape evolves, Nigerians continue to monitor both the official and parallel markets closely, with the Aboki rate serving as a barometer for broader economic sentiment.

For the latest updates on exchange rates, individuals are advised to consult trusted sources or licensed Bureau de Change operators.