Aboki Naira to Dollar Black Market Exchange Rate Today, 29th August 2025

The black market exchange rate for the US Dollar (USD) to the Nigerian Naira (NGN) remains relatively stable today, according to sources from Bureau De Change (BDC) operators in major Nigerian cities, including Lagos, Abuja, Port Harcourt, and Kano.

As of this morning, black market traders, commonly referred to as “Aboki,” are buying dollars at approximately ₦1,538 and selling at ₦1,528 per USD, reflecting a marginal fluctuation from yesterday’s rates.

The parallel market, which operates outside the Central Bank of Nigeria’s (CBN) regulated channels, remains a critical avenue for individuals and businesses seeking foreign exchange due to limited access to official foreign exchange markets.

The CBN, which does not recognize the black market, encourages forex transactions through banks, where the official Investors’ and Exporters’ (I&E) window rates hover between ₦1,515 and ₦1,525 per dollar. However, challenges such as documentation requirements and limited dollar supply drive many to the black market for faster transactions.

Market analysts note that the Naira’s performance in the black market is influenced by Nigeria’s ongoing reliance on imports, fluctuating oil prices, and limited foreign direct investment.

Despite recent CBN interventions to stabilize the official market, the parallel market remains the go-to for retail forex users due to its accessibility. A trader in Lagos remarked, “The black market is where the real action is. You get dollars quickly, but you pay a premium.”

For instance, 100 USD equates to ₦152,800 at the selling rate, while 1,000 USD fetches ₦1,528,000 in the black market.

Economic experts warn that without significant increases in foreign exchange inflows from crude oil exports, diaspora remittances, or structural reforms, the Naira may face continued pressure. “The black market will remain relevant until the CBN can meet the dollar demand through official channels,” said Olumide Adesina, a financial analyst.

For the latest updates, Nigerians are encouraged to monitor trusted platforms like Aboki Forex, Investors King, and the CBN’s official website for both black market and official exchange rate information.

Rates may vary slightly by location and transaction volume, so individuals are advised to compare offers from local BDC operators for the best deals.

Disclaimer: The Central Bank of Nigeria advises against using the black market for forex transactions and recommends approaching licensed banks or BDCs for safer and regulated exchanges.