Aboki Naira to Dollar Black Market Exchange Rate Today, 28th February 2026

The Nigerian Naira continued its recent depreciation trend against the US Dollar in the parallel (black) market, commonly referred to as the Aboki rate, amid ongoing economic pressures and foreign exchange dynamics.

As of today, February 28, 2026, the black market exchange rate for the US Dollar to Naira stands at approximately ₦1,375 to ₦1,390 per dollar, depending on location, dealer, and transaction volume. Key sources tracking the parallel market, including user-reported data and platforms like NgnRates and Nairatoday, indicate:

• Selling rate (what buyers pay in Naira for $1): Around ₦1,375–₦1,390 in major cities such as Lagos, Abuja, Port Harcourt, and Kano.
• Buying rate (what sellers receive): Slightly lower, often in the ₦1,360–₦1,370 range.

This reflects a week-on-week depreciation of about ₦58 in the parallel market, closing higher than last week’s levels around ₦1,317. The rate has shown marginal day-to-day fluctuations but remains elevated compared to earlier in the month.

For comparison:

• The official Central Bank of Nigeria (CBN) rate at the Nigerian Foreign Exchange Market (NFEM) stood at ₦1,363.39 per dollar on February 27–28, 2026, with the Naira weakening by ₦3.57 from the previous day and ₦17.07 over the week.
• The gap (premium) between the official and black market rates has narrowed to roughly ₦11–₦27, signaling some convergence even as both segments experience downward pressure on the Naira.

Market observers attribute the ongoing slide to factors such as sustained demand for foreign currency, global oil price influences, and domestic liquidity conditions. Despite recent highs in Nigeria’s external reserves (reported around $49.51 billion), the parallel market remains sensitive to informal supply constraints.

Traders and analysts advise caution for individuals or businesses engaging in parallel market transactions, as rates can vary by dealer and are unregulated. Platforms like Aboki Forex, NgnRates, and others provide live updates, but users should verify locally before exchanging.

The Naira has faced volatility throughout February 2026, with the black market rate fluctuating between lows near ₦1,333 (mid-month) and highs pushing toward ₦1,390. Economic stakeholders continue to monitor CBN interventions and potential policy adjustments for signs of stabilization.