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

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly known as the “Aboki” rate, remains a critical focus for Nigerians amid ongoing economic challenges.

As of today, July 5, 2025, Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira black market exchange rate at approximately ₦1,575 for buying and ₦1,585 for selling, according to sources from trusted platforms like NewsOnline Nigeria and TheCityCeleb.

This represents a slight increase from yesterday’s rates, which stood at ₦1,560 for buying and ₦1,570 for selling on July 4, 2025, indicating minor fluctuations in the parallel market. The black market, operating outside the Central Bank of Nigeria’s (CBN) official channels, continues to reflect the high demand for foreign currency driven by limited supply, import dependency, and economic pressures.

The Aboki rate’s volatility underscores Nigeria’s broader economic challenges, including currency scarcity and reliance on imports for goods and services. Analysts note that the gap between the official CBN rate, reported at approximately ₦1,547.70 as of July 4, 2025, and the black market rate persists due to restricted access to dollars through formal channels.

Economic experts warn that without significant policy interventions to boost foreign exchange reserves, the Naira could face further depreciation, with some projections suggesting a potential climb toward ₦2,000/$1 in the near future if current trends continue.

The black market exchange rate directly affects the cost of imported goods, international travel, education, and other dollar-denominated expenses. For instance, converting $100 to Naira today at the black market rate would yield approximately ₦158,500, while $1,000 would fetch around ₦1,585,000.

Nigerians are urged to exercise caution when engaging in black market transactions due to risks of fraud and legal implications, as the CBN discourages participation in the parallel market and promotes authorized channels for forex transactions.

As Nigeria’s economic landscape evolves, the Aboki black market rate remains a key indicator of the Naira’s performance and the broader challenges facing the economy. Citizens are advised to stay informed through reliable sources and consider official channels for safer transactions to mitigate risks associated with the parallel market.

Disclaimer: Black market exchange rates are unofficial and subject to rapid fluctuations. Always verify rates with trusted sources before engaging in transactions.