Aboki Naira to Dollar Black Market Exchange Rate Today, 6th August 2025

As of today, Wednesday, August 6, 2025, Bureau De Change (BDC) operators in major markets such as Lagos, Abuja, Kano, and Port Harcourt report that the dollar is trading at an average buying rate of ₦1550 and a selling rate of ₦1565 in the parallel market, according to trusted sources.

These rates reflect a slight decrease from yesterday’s figures of ₦1565 (buy) and ₦1570 (sell), signalling a minor easing in the naira’s pressure against the dollar.

The black market, also known as the “Aboki” market, continues to serve as a critical avenue for individuals and businesses seeking foreign currency due to limited access through official channels.

The Central Bank of Nigeria (CBN) maintains that it does not recognize the parallel market and encourages forex transactions through authorized banks. However, high demand for dollars—driven by importation, international travel, and educational expenses abroad—continues to fuel the black market’s prominence.

For instance, converting $100 today would yield approximately ₦155,000 when selling, while purchasing $100 would cost around ₦156,500. These rates remain significantly higher than the official CBN rates, estimated to hover between ₦1,515 and ₦1,525 per dollar at the Investors’ and Exporters’ (I&E) window.

Financial analysts attribute the persistent gap between official and black market rates to Nigeria’s structural economic challenges, including limited foreign currency supply and dependence on imports.

“The black market will remain a key player until Nigeria boosts its export revenues and forex reserves,” said Chinedu Okeke, a Lagos-based analyst. “For now, it’s the fastest way for many to access dollars, despite the higher costs.”

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

For real-time updates, platforms TheCityCeleb provide reliable insights, while the CBN’s website offers official rates for comparison.

As the naira faces ongoing volatility, experts emphasize the need for structural reforms, including increased crude oil sales, diaspora remittances, and foreign direct investments, to stabilize the currency and reduce reliance on the parallel market.