Aboki Naira to Dollar Black Market Exchange Rate Today, 22nd September 2025
The Nigerian naira demonstrated resilience in the parallel market on Monday, trading at approximately ₦1,505 per US dollar, according to real-time updates from Aboki exchange rate trackers and stablecoin market indicators.
This marks a slight depreciation from Friday’s close but continues the currency’s recent rally, bolstered by ongoing economic reforms and strengthened foreign reserves.
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Bureau De Change (BDC) operators in major cities like Lagos, Abuja, and Port Harcourt reported buying dollars at around ₦1,500 and selling at ₦1,505–₦1,510, reflecting minimal volatility in the informal sector. Aboki Forex platforms, popular among traders for their crowd-sourced data, echoed these figures, with an averaged black market rate hovering at ₦1,496.97 early in the day before edging up slightly due to morning demand.
In the cryptocurrency-linked P2P markets, USDT (a dollar-pegged stablecoin) was exchanging at ₦1,505.50, providing a proxy for black market sentiment.
The stability comes on the heels of a robust week for the naira, which appreciated to around ₦1,487 per dollar at the official Nigerian Foreign Exchange Market (NFEM), driven by President Bola Tinubu‘s administration’s policy measures, including tighter monetary controls and increased inflows from diaspora remittances.
Analysts attribute the trend to the Central Bank of Nigeria’s (CBN) aggressive reserve buildup, now exceeding $40 billion, which has curbed speculative pressures in the parallel market.
“While the official rate benefits from institutional interventions, the black market remains a barometer for grassroots confidence,” said Dr. Aisha Bello, an economist at Lagos Business School. “Today’s rates suggest cautious optimism, but traders should watch for global oil price fluctuations, as Brent crude dipped near $67 per barrel amid broader commodity volatility.”
For context, the naira has fluctuated between ₦1,496 and ₦1,510 over the past week in the black market, a stark improvement from earlier highs above ₦1,600 in mid-2025. This comes as import costs for essentials like petrol surged to ₦870 per litre and diesel to ₦999, highlighting persistent challenges in the downstream energy sector despite currency gains.
Market participants are advising caution for large transactions, recommending verified BDCs to avoid scams. As Nigeria navigates its post-reform landscape, all eyes remain on the CBN’s next moves to sustain this momentum.
