Aboki Naira to Dollar Black Market Exchange Rate Today, 8th November 2025

Saturday, 8 November 2025, 8:38 am 0 Posted By Aboki Exchange

The Nigerian Naira showed resilience in the informal currency market on Saturday, trading at approximately ₦1,470 per US Dollar, according to reports from Bureau de Change operators in major cities including Lagos, Abuja, and Kano.

This marks a slight stabilization following minor fluctuations earlier in the week, with buying rates hovering around ₦1,450 and selling rates at ₦1,470.

Currency traders, commonly known as Aboki FX dealers, attributed the steady rates to reduced dollar demand from importers ahead of the weekend and a cautious uptick in oil export revenues. “The market is quiet today—no big panic buying like last month,” said one anonymous BDC operator in Lagos’ bustling Allen Avenue district.

“But everyone knows it could shift with any news from the Central Bank.” The parallel market rate remains notably higher than the official Nigerian Foreign Exchange Market (NFEM) rate, where the Naira exchanged at ₦1,430 to the Dollar as of Friday’s close.

This persistent gap—now over 2.5%—continues to fuel debates on Nigeria’s forex reforms under Central Bank Governor Olayemi Cardoso. Critics argue the disparity undermines economic confidence, while supporters point to recent interventions that have narrowed the spread from double digits earlier in 2025.

Economists warn that while the Naira’s black market value has plateaued around ₦1,450–₦1,470 since early November, external pressures like global oil price volatility and U.S. Federal Reserve signals could prompt renewed depreciation.

“Subdued importer appetite is a band-aid; without deeper reforms, we’re risking a slide toward ₦1,500 by year-end,” noted a Nairametrics analyst in a recent note. For everyday Nigerians, the rates mean continued strain on import-dependent goods, from electronics to foodstuffs.

The Central Bank of Nigeria has yet to announce weekend interventions, but markets will reopen Monday with eyes on fresh forex auctions.

Stay tuned for updates as Aboki rates evolve in real-time.