Aboki Naira to Dollar Black Market Exchange Rate Today, 27th September 2025

The Nigerian Naira showed minimal fluctuation against the US Dollar in the parallel market today, with Bureau De Change (BDC) operators quoting a buying rate of ₦1,520 and a selling rate of ₦1,505 per dollar.

This marks a slight easing from Friday’s close, where rates hovered around ₦1,515 for selling, reflecting cautious optimism among traders despite ongoing inflationary strains and foreign exchange shortages.

Sources in Lagos’ bustling black market hubs, including Alaba and Idumota, reported brisk but subdued activity early Saturday morning. “We’re seeing small transactions mostly from importers and diaspora remittances,” said one anonymous BDC operator.

“The Naira isn’t crashing, but it’s not strengthening either – everyone’s waiting for the Central Bank’s next move.” The parallel market, often referred to as the “Aboki” rate due to its informal network of street traders, continues to outpace official rates, which stood at approximately ₦1,500 per dollar as per recent Central Bank of Nigeria (CBN) interventions.

The modest dip comes on the heels of a relatively stable week, where the Naira traded between ₦1,515 and ₦1,535 against the Dollar. Earlier in the month, rates had spiked to ₦1,535 buying on September 21, driven by heightened demand for Dollars ahead of seasonal imports.

Economists attribute the current steadiness to the CBN’s recent $200 million injection into the forex market and tighter controls on Bureau de Change licenses, aimed at curbing speculation. However, broader economic headwinds persist.

Nigeria’s inflation rate climbed to 34.2% in August, fueled by soaring fuel prices and food costs, eroding purchasing power for everyday Nigerians. The black market’s premium over official rates – now at about 5-7% – underscores persistent Dollar scarcity, exacerbated by declining oil revenues and reduced foreign investment.

“For families relying on remittances, every kobo counts,” noted Dr. Aisha Bello, an economist at the Lagos Business School. “A stable Aboki rate offers some relief, but without structural reforms, we’re just treading water.”

Traders anticipate weekend volatility if global oil prices dip further, with Brent crude hovering around $72 per barrel. Meanwhile, the Euro and Pound followed suit, trading at ₦1,790 and ₦2,100 respectively in the parallel market, per recent dealer updates.

As Nigeria navigates its toughest economic chapter in decades, eyes remain on upcoming CBN policy announcements.

For now, the black market offers a gritty barometer of resilience – and the high stakes of every Dollar exchanged.