Aboki Naira to Dollar Black Market Exchange Rate Today, 1st August 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) remains a focal point for Nigerians navigating the volatile foreign exchange landscape.
As of today, Friday, August 1, 2025, Bureau De Change (BDC) operators, commonly referred to as “Aboki,” are quoting the dollar at an average buying rate of ₦1545 and a selling rate of ₦1550 in key markets such as Lagos, Abuja, Kano, and Port Harcourt.
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This represents a slight increase from yesterday’s rates, where the dollar was bought at ₦1545 and sold at ₦1550, reflecting the ongoing fluctuations driven by high demand for foreign currency and limited supply through official channels.
The black market, also known as the parallel market, continues to thrive due to restricted access to dollars from the Central Bank of Nigeria (CBN), prompting individuals and businesses to rely on informal traders for foreign exchange transactions.
The CBN has repeatedly cautioned against using the black market, urging Nigerians to conduct forex transactions through authorized banks and licensed financial institutions. However, the ease of access and faster transactions in the parallel market keep it a preferred option for many.
According to local dealers, the slight rate hike today is attributed to heightened demand for dollars for importation, travel, and international payments, coupled with economic uncertainties.
For reference, the official CBN exchange rate remains significantly lower than the black market rates, underscoring the disparity between regulated and unregulated foreign exchange markets. Nigerians are advised to compare rates across multiple BDC operators, as prices can vary slightly by location and trader.
As the naira continues to face pressure, analysts suggest that stabilizing the currency will require addressing Nigeria’s import dependency and boosting foreign exchange reserves.
For now, the black market remains a critical, albeit unofficial, pillar of Nigeria’s foreign exchange (forex) ecosystem.
Note: Black market rates are unofficial and subject to change multiple times daily. Always verify with trusted local dealers before engaging in transactions.
