Aboki Naira to Dollar Black Market Exchange Rate Today, 28th August 2025

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

As of today, Thursday, August 28, 2025, Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, and Port Harcourt are quoting the Dollar to Naira exchange rate at approximately ₦1,538 for buying and ₦1,528 for selling, according to reliable sources in the parallel market.

This represents a slight improvement from yesterday’s rates, which saw a high of ₦1,550.7, indicating cautious trader sentiment amid persistent economic challenges.

The black market remains a critical avenue for many Nigerians, including small businesses, importers, and students abroad, despite the Central Bank of Nigeria (CBN) urging citizens to utilize regulated banking systems for forex transactions. The official CBN rate, for comparison, is reported to hover between ₦1,525 and ₦1,540 per USD, highlighting the persistent premium on the parallel market.

Market analysts attribute the Naira’s fluctuations to Nigeria’s reliance on imports, limited foreign exchange reserves, and insufficient inflows from crude oil sales and diaspora remittances. A Lagos-based forex dealer noted, “Demand for dollars remains high, especially from small-scale businesses and importers. Without significant policy changes or increased forex inflows, the black market will continue to set the pace for retail transactions.”

The gap between the black market and official rates continues to raise concerns, with the CBN’s Investors’ and Exporters’ (I&E) window reporting rates significantly lower than the parallel market. Experts warn that volatility could persist due to global inflation trends, fluctuating oil prices, and Nigeria’s ongoing economic reforms.

For Nigerians looking to stay updated, platforms like Aboki Forex, Nairatoday, and Investors King provide real-time black market rates, while the CBN website offers official exchange rate data.

Traders and consumers are advised to compare rates across locations and dealers, as black market rates can vary slightly depending on transaction volume and regional demand.

As the economic landscape remains uncertain, experts advise Nigerians to closely monitor exchange rates and exercise caution when engaging in parallel market transactions. The CBN is expected to continue its interventions to stabilize the official market; however, the dominance of the black market is likely to persist without significant structural reforms and increased foreign exchange inflows.

For real-time updates, visit trusted platforms like Aboki Forex or consult the CBN for official rates.

Disclaimer: Black market rates are unofficial and subject to variation based on location, dealer, and transaction volume.