Aboki Naira to Dollar Black Market Exchange Rate Today, 10th September 2025

The Nigerian Naira has taken a significant hit in the black market, with the exchange rate against the US Dollar reaching alarming levels on September 10, 2025.

According to reports from local currency traders, commonly referred to as “Aboki” dealers, the Naira is trading at approximately ₦1,650 to $1 in the parallel market, a sharp decline from last week’s rate of ₦1,620 to $1.  

This depreciation comes amidst ongoing economic challenges in Nigeria, including persistent inflation, foreign exchange scarcity, and dwindling foreign reserves. Analysts attribute the Naira’s slide to heightened demand for dollars, driven by importers and individuals seeking to hedge against economic uncertainty.

The Central Bank of Nigeria (CBN) has struggled to stabilize the currency, with official rates hovering around ₦1,590 to $1, creating a wide gap between the official and black market rates. Traders in Lagos and Abuja reported brisk activity in the black market, with many Nigerians turning to informal channels due to restricted access to dollars through banks.

“The demand is too much, and the dollars are scarce,” said Musa, a currency dealer in Lagos. “People are worried about the economy, so they want to hold dollars.” Economic experts warn that the widening gap between official and parallel market rates could fuel inflation further, impacting the cost of imported goods and services.

The CBN has yet to comment on immediate measures to address the black market surge, but sources indicate potential interventions to boost dollar liquidity may be under consideration.  

As Nigerians brace for the economic ripple effects, the black market remains a critical barometer of the country’s currency woes, with the Naira’s value continuing to face intense pressure.  

Note: Exchange rates are subject to rapid changes. For real-time updates, consult trusted local sources.