Aboki Naira to Dollar Black Market Exchange Rate Today, 5th August 2025

According to sources at Bureau De Change (BDC) operators in major markets such as Lagos, Abuja, Kano, and Port Harcourt, the dollar is trading at an average buying rate of ₦1565 and a selling rate of ₦1570 today, Tuesday, August 5, 2025. These rates mark a slight increase from yesterday’s figures, where the dollar was bought at ₦1555 and sold at ₦1560, indicating persistent pressure on the naira.

The black market, also known as the parallel market, remains a crucial avenue for many Nigerians and businesses seeking foreign currency due to limited access through official channels.

The Central Bank of Nigeria (CBN) does not recognize the parallel market and has consistently urged individuals to conduct foreign exchange transactions through authorized banks. However, the high demand for dollars—driven by importation needs, international travel, and educational expenses abroad—continues to fuel the black market’s prominence.

For instance, converting $100 today would yield approximately ₦156,500 when selling, while purchasing $100 would cost around ₦157,000. These rates are notably higher than the official CBN rates, which are currently estimated to hover between ₦1,515 and ₦1,525 per dollar at the Investors’ and Exporters’ (I&E) window.

The gap between official and black market rates highlights the challenges in Nigeria’s foreign exchange ecosystem, including limited foreign currency supply and bureaucratic hurdles in accessing dollars through banks.

Financial analyst Chinedu Okeke noted, “The black market’s dominance is a symptom of deeper structural issues in Nigeria’s economy. Until we see increased export revenues and stronger forex reserves, the naira will remain under pressure, and the parallel market will continue to thrive.”

Nigerians are advised to verify rates with trusted local dealers before engaging in transactions, as black market rates can vary slightly by location, transaction volume, and dealer.

As the naira faces ongoing challenges, experts suggest that stabilizing the currency will require addressing structural economic issues, including boosting crude oil sales, diaspora remittances, and foreign direct investments.

For now, the black market remains a vital, albeit unofficial, component of Nigeria’s forex landscape. For daily updates on black market rates, visit trusted platforms like TheCityCeleb, Aboki Forex or check official rates on the Central Bank of Nigeria’s website.

Note: Black market rates are unofficial and subject to change multiple times daily due to market dynamics.