Aboki Naira to Dollar Black Market Exchange Rate Today, 28th June 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, remains a focal point for Nigerians navigating the country’s volatile economic landscape.
According to sources from Bureau De Change (BDC) operators in major markets across Lagos, Abuja, Port Harcourt, and Kano, the black market rate for the dollar to naira today, June 28, 2025, stands at approximately ₦1,570 to buy and ₦1,580 to sell. This represents a slight fluctuation from yesterday’s rates, where the dollar was traded at ₦1,570 to buy and ₦1,580 to sell, indicating relative stability in the parallel market.
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The black market, or parallel market, continues to thrive due to persistent foreign exchange scarcity, high demand for dollars, and Nigeria’s import-dependent economy. Unlike the official rate set by the Central Bank of Nigeria (CBN), which was approximately ₦1,574.58 per USD as of June 21, 2025, the black market offers quicker access to foreign currency, albeit at a premium. Currency dealers in Lagos’ Zone 4 and Abuja’s Wuse Zone 4 markets noted slight regional variations, with some quoting up to ₦1,615 for selling in high-demand areas.
The persistent gap between the official and black market rates is driven by limited dollar supply, surging oil prices amid Middle East tensions, and restrictive CBN policies, which have pushed individuals and businesses to rely on Aboki traders for travel, imports, and international payments.
The Naira’s value remains under pressure due to Nigeria’s economic challenges, including reliance on imports and fluctuating oil prices. Analysts warn that without significant policy changes or increased foreign exchange inflows, the Naira could face further depreciation, with some projections suggesting a potential climb toward ₦2,000 per USD in the near future if current trends persist.
Note: The black market is not recognized by the Central Bank of Nigeria, and individuals are advised to approach formal banking channels for forex transactions where possible.
