Aboki Naira to Dollar Black Market Exchange Rate Today, 14th October 2025

The Nigerian Naira showed marginal stability against the US Dollar in the parallel market today, with black market operators quoting a selling rate of ₦1,504 per dollar, according to Bureau De Change (BDC) sources in Lagos.

This represents a slight uptick from Monday’s closing rate of ₦1,504 sell and ₦1,485 buy, signaling cautious trading amid ongoing economic pressures.

The “Aboki” parallel exchange rate, a popular benchmark for informal forex dealings, has hovered around the ₦1,500 mark in recent days, reflecting persistent demand for dollars driven by import needs and remittances.

Buying rates remained at approximately ₦1,485, creating a narrow spread that experts attribute to tighter liquidity in the market. In Abuja, Port Harcourt, and Kano, similar rates were reported, with minor variations of up to ₦5 based on transaction volumes.

For context, the official Central Bank of Nigeria (CBN) rate stood at around ₦1,600 per dollar earlier this week, highlighting the persistent gap between regulated and black market valuations. Economists warn that this disparity could exacerbate inflation, which hit 34.7% in September, fueled by higher costs for imported goods like fuel and electronics.

“This stability is a fragile one,” said Dr. Aisha Bello, a currency analyst at Lagos-based FirstBank. “With foreign reserves dipping below $35 billion and global oil prices fluctuating due to Middle East tensions, the Naira could face renewed pressure if inflows from diaspora remittances slow during the holiday season.”

Market participants, often referred to as “Abokis” in local slang, reported brisk but cautious activity in key trading hubs like Allen Avenue in Lagos. One dealer, speaking anonymously, noted: “Business is steady, but everyone’s watching the CBN’s next move. No one wants to hold too much Naira right now.”

Broader forex trends showed the British Pound exchanging at ₦2,020-2,070 and the Euro at ₦1,730-1,780 in the black market, underscoring the Naira’s relative underperformance against major currencies. The CBN has been intervening sporadically to defend the Naira, including recent dollar sales to BDCs, but analysts say structural reforms—like boosting non-oil exports—are needed for long-term relief.

As Nigeria navigates its post-reform economic landscape under President Bola Tinubu’s administration, today’s rates offer a brief respite for importers and travelers. However, with the International Monetary Fund (IMF) urging further fiscal tightening in its latest review, the black market could see renewed volatility by week’s end.

For real-time updates, traders are advised to monitor trusted platforms like AbokiFX or consult licensed BDCs. Investors should exercise caution, as parallel market rates can shift rapidly based on news flows.

Rates are indicative and subject to change; always verify with authorized dealers.