Aboki Naira to Dollar Black Market Exchange Rate Today, 23rd September 2025

The Nigerian Naira exhibited marginal stability against the US Dollar in the parallel market today, with Aboki (black market) operators quoting rates between ₦1,535 for buying and ₦1,545 for selling per dollar.

This comes as the Central Bank of Nigeria (CBN) continues its efforts to bolster foreign exchange reserves, which have risen for the ninth consecutive week, providing a buffer against volatility.

According to real-time updates from Bureau De Change (BDC) operators in major cities like Lagos, Abuja, Port Harcourt, and Kano, the average selling rate stood at approximately ₦1,540, a slight uptick from Sunday’s ₦1,520-₦1,535 range.

Buying rates hovered around ₦1,535, reflecting cautious trader sentiment amid ongoing FX supply stabilization. These rates, often tracked through platforms like AbokiFX and TheCityCeleb, underscore the resilience of the parallel market despite broader economic pressures.

The black market rate remains notably higher than the official CBN spot rate, which closed at around ₦1,511 per dollar yesterday, highlighting persistent disparities between regulated and informal channels. Analysts attribute today’s stability to increased dollar inflows from oil exports and diaspora remittances, coupled with the CBN’s recent delay of a new tax law to 2026, aimed at easing living costs.

However, experts warn that without sustained interventions, the Naira could face renewed depreciation if global oil prices dip below $60 per barrel by year-end, as forecasted by industry watchers.

For context, the Naira has strengthened from a six-month low of ₦1,507 earlier this month, buoyed by growth in forex reserves and optimism about the Fed rate cut, which has boosted emerging market currencies. Yet, parallel market premiums persist, with the spread between official and Aboki rates averaging 2-3% today.

Traders and businesses are advised to closely monitor updates, as rates can fluctuate hourly. For instant conversions, tools like the AbokiFX calculator show that $100 fetches about ₦154,000 in the black market, compared to ₦151,100 officially.

As Nigeria navigates its economic recovery, today’s rates signal cautious optimism, but stakeholders are calling for deeper reforms to unify the foreign exchange market and curb inflation. Stay tuned for evening updates as trading volumes peak.