Aboki Naira to Dollar Black Market Exchange Rate Today, 30th October 2025

The Nigerian Naira showed resilience in the parallel market on Thursday, with black market operators—commonly known as “Aboki” traders—maintaining a stable selling rate of ₦1,500 per US Dollar across key cities including Lagos, Abuja, Port Harcourt, and Kano.

Buying rates hovered around ₦1,485, reflecting minimal fluctuations from the previous day’s close. This consistency comes amid ongoing economic pressures, including Nigeria’s persistent $32 billion foreign exchange backlog and volatile global oil prices, which heavily influence the country’s currency dynamics.

Informal traders reported brisk activity, driven by diaspora remittances and small-scale imports, though demand for dollars remains elevated due to seasonal year-end spending.

According to sources from Bureau de Change (BDC) operators in Lagos’ bustling Ikeja and Alaba markets, the rate has held firm over the past week, a slight improvement from the ₦1,535 peak seen in May 2025. “We’re seeing more steady inflows from abroad, which is keeping things balanced,” said an anonymous Aboki trader in Lagos, speaking on condition of anonymity.

“But if oil doesn’t pick up, we could see pressure building again soon.” The parallel market, often referred to as the “Aboki FX” rate, continues to diverge from official Central Bank of Nigeria (CBN) figures, where the Naira trades closer to ₦1,450 per dollar on the Investors and Exporters (I&E) window.

The CBN has repeatedly cautioned against using black market rates, urging citizens to conduct forex transactions through licensed banks to avoid risks associated with unregulated dealers.

Economists attribute the Naira’s recent steadiness to government reforms, such as increased oil production quotas under OPEC+ and efforts to attract foreign direct investment. However, challenges persist, including inflation hovering above 30% and reduced foreign reserves.

Analysts from Nairametrics predict the black market rate could test ₦1,520 by mid-November if global trade tensions escalate, particularly with ongoing US-China negotiations impacting commodity prices.

For those needing to exchange currency, experts recommend verifying rates through reputable platforms like AbokiFX or official BDC associations, while avoiding large transactions in unregulated spots to mitigate fraud risks.

Stay tuned for updates as the market evolves. For live conversions, visit trusted sources like AbokiForex.app.