Aboki Naira to Dollar Black Market Exchange Rate Today, 8th May 2026

The Nigerian naira continued its downward slide in the parallel market on Friday, with currency dealers quoting the US dollar at around ₦1,400 for selling, reflecting persistent pressure from importers and individuals seeking foreign exchange outside official channels.

Aboki traders in major cities, including Lagos, Abuja, and Kano, reported buy rates hovering near ₦1,380 to ₦1,385 per dollar, creating a spread that underscores the tight liquidity in the informal segment.

This marks a slight depreciation from Thursday’s levels, where the dollar closed at approximately ₦1,395 in sales. Market participants attribute the movement to sustained demand for dollars amid ongoing economic uncertainties and limited supply from the official window.

In contrast, the Central Bank of Nigeria’s official rate stood firmer at about ₦1,357 to ₦1,366 per dollar earlier in the week, highlighting the persistent gap between the two markets. Analysts note that while authorities have made efforts to stabilize the currency through interventions, parallel market rates remain sensitive to speculative activities and seasonal pressures from businesses settling international obligations.

Currency watchers advise caution for those planning transactions, as rates can fluctuate rapidly within the day depending on location and volume. Many recommend monitoring updates from trusted aggregators before exchanging large sums. The development comes as Nigeria grapples with broader efforts to bridge the divide between official and black market valuations to restore investor confidence.

Traders expect the naira to face additional tests in the coming days if dollar inflows do not improve significantly.