Aboki Naira to Dollar Black Market Exchange Rate Today, 9th July 2025

The black market exchange rate for the US Dollar to Nigerian Naira, popularly referred to as the “Aboki rate,” stands at approximately ₦1,555 for buying and ₦1,565 for selling today, Wednesday, July 9, 2025.

These figures were confirmed by Bureau De Change operators in major Nigerian cities such as Lagos, Abuja, Kano, and Port Harcourt. This reflects a slight upward movement from the previous day’s rate on Tuesday, July 8, when the dollar traded at ₦1,540 for buying and ₦1,555 for selling. The fluctuation is primarily driven by the ongoing imbalance between demand and supply in Nigeria’s parallel foreign exchange market.

Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the Naira, the black market rate continues to stay above the official benchmark. On July 7, 2025, the CBN’s official exchange rate was approximately ₦1,559.41 to $1. The widening gap between official and parallel market rates is largely attributed to persistent dollar scarcity, Nigeria’s dependence on imports, limited forex reserves, and restricted access to dollars through formal banking systems.

At today’s parallel market rate, a $100 transaction yields around ₦156,500, while $1,000 would convert to roughly ₦1,565,000. A smaller transaction of $50 fetches about ₦78,250. The black market, though unofficial and unregulated, remains a critical source of foreign currency for Nigerians, especially those involved in international trade, travel, tuition payments, and urgent cross-border transactions.

Economic analysts warn that if current pressures persist without policy reforms or increased forex inflow, the Naira could depreciate further, with projections suggesting a potential slide toward ₦2,000 per dollar. While the CBN continues to caution against black market dealings—citing risks such as counterfeit currency, scams, and possible legal implications—many Nigerians see it as the only viable option for timely forex access.

Users are advised to approach transactions cautiously, verify rates with multiple sources, and rely on credible platforms such as regulated forex dealers.

Disclaimer: As market conditions shift daily, it’s important to stay informed about changes in both official and unofficial exchange rates before making any foreign currency decisions.