Aboki Naira to Dollar Black Market Exchange Rate Today, 16th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly known as the “Aboki” rate, continues to reflect the ongoing volatility in Nigeria’s parallel market.

According to sources from Bureau De Change (BDC) operators across major cities such as Lagos, Abuja, Kano, and Port Harcourt, the dollar is trading at an average buying rate of ₦1,545 and a selling rate of ₦1,550 as of today, July 16, 2025.

This marks a slight shift from yesterday’s rates, where the dollar was bought at ₦1,540 and sold at ₦1,545 in the Lagos parallel market. The marginal increase in rates underscores the persistent pressure on the Naira, driven by high demand for dollars amid limited foreign exchange supply through official channels.

The Central Bank of Nigeria (CBN) continues to discourage transactions in the parallel market, urging individuals and businesses to utilize authorized banks for foreign exchange transactions. However, the official CBN rate, reported at approximately ₦1,518.88 on July 14, 2025, remains significantly lower than the black market rates, highlighting the disparity between the official and parallel markets.

Market analysts attribute the elevated black market rates to Nigeria’s reliance on imports and rising costs of international education, travel, and commercial activities, which continue to fuel demand for dollars. The limited supply of foreign currency through official channels has prompted individuals and businesses to turn to the black market, where dollars are more readily available but at a premium.

For Nigerians, tracking the Aboki exchange rate remains critical for making informed financial decisions.

As the Naira faces ongoing challenges, without significant policy interventions to boost foreign exchange reserves or reduce import dependency, the pressure on the Naira in the parallel market is likely to persist. For now, those engaging in currency exchange are advised to compare rates across different BDCs, as slight variations may exist depending on location and market dynamics.

Note: Black market rates are unregulated and can vary. Always exercise caution and verify rates with trusted sources before engaging in transactions.