Aboki Naira to Dollar Black Market Exchange Rate Today, 22nd July 2025

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

According to sources from Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt, the dollar is trading at an average buying rate of ₦1,530 and a selling rate of ₦1,540 as of today, July 22, 2025. These figures align with rates reported on July 21, 2025, indicating a period of relative stability in the black market amidst moderate demand for foreign currency.

The slight spread between the buying and selling rates reflects a balanced market, with BDC operators noting steady but not overwhelming demand for dollars. For context, converting $100 to Naira at today’s black market selling rate yields approximately ₦154,000, while $1,000 would fetch around ₦1,540,000. Smaller transactions, such as $50, would convert to about ₦77,000.

The Central Bank of Nigeria (CBN) continues to caution against reliance on the black market, urging individuals and businesses to conduct foreign exchange transactions through authorized banks to avoid risks such as scams and counterfeit currency. The official CBN rate, reported at approximately ₦1,524.86 on July 17, 2025, remains lower than the parallel market rates, highlighting the persistent gap between official and black market channels.

Market analysts attribute the elevated black market rates to Nigeria’s reliance on imports, rising costs of international education, travel, and commercial activities, which continue to fuel demand for dollars. The constrained supply of foreign currency through official channels has driven many Nigerians to the parallel market, where dollars are more readily accessible, albeit at a premium.

As Nigeria navigates its economic challenges, the Aboki black market rate remains a key indicator of the Naira’s performance and the broader pressures facing the nation’s economy.

Nigerians are advised to exercise caution, compare rates across trusted platforms, and engage with reputable BDC operators to secure the best deals.