Aboki Naira to Dollar Black Market Exchange Rate Today, 29th September 2025
The Nigerian Naira showed minimal fluctuation against the US Dollar in the parallel market on Monday, with Aboki traders quoting a selling rate of ₦1,505 per dollar, according to sources from Bureau De Change operators in Lagos.
Buying rates hovered around ₦1,485, reflecting cautious trading as investors monitor ongoing economic reforms and global oil price dynamics.
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The black market, often referred to as the Aboki FX segment, remains a critical barometer for Nigeria’s currency woes, where informal dealers facilitate transactions outside the official channels of the Central Bank of Nigeria (CBN).
On Sunday, the rates were nearly identical, with sellers at ₦1,505 and buyers at ₦1,485, indicating a rare weekend stability in a market prone to sharp swings. This comes after a slight uptick from Friday’s close of around ₦1,500, as reported by parallel market trackers.
Economists attribute the current steadiness to seasonal factors, including remittances from the diaspora ahead of the holiday season, coupled with the CBN’s recent interventions to unify exchange rates.
However, underlying pressures persist: Nigeria’s heavy reliance on oil exports, inflation hovering above 30%, and foreign investor hesitancy continue to weigh on the Naira.
“While today’s rates offer a brief respite, we anticipate volatility if crude prices dip further below $70 per barrel,” said Dr. Aisha Bello, a currency analyst at Lagos-based fintech firm EcoWealth.
For comparison, the official Investors and Exporters (I&E) window rate stood at approximately ₦1,450 per dollar earlier today, highlighting the persistent premium in the black market— a gap that underscores liquidity shortages in the formal sector.
| Currency Pair | Black Market Buy Rate | Black Market Sell Rate | Change from Yesterday |
|---|---|---|---|
| USD/NGN | ₦1,485 | ₦1,505 | Stable |
Traders in Abuja and Port Harcourt reported similar quotes, with minor variations of up to ₦10 depending on transaction volumes.
Social media platforms, where Aboki rates are frequently updated, buzzed with mixed sentiments: some users hailed the pause as a “win for the Naira,” while others expressed frustration over rising import costs for essentials like electronics and pharmaceuticals.
As Nigeria navigates its economic recovery post-reforms, market watchers advise caution for individuals and businesses engaging in forex trades.
“Always verify rates with multiple sources and avoid large transactions without due diligence,” recommended Felix Okoro, a veteran BDC operator in Ikeja.
Stay tuned for updates, as rates can shift rapidly based on new policy announcements from the CBN or international developments. For live conversions, platforms like AbokiFX provide real-time tools to track the Naira’s journey.
