Aboki Naira to Dollar Black Market Exchange Rate Today, 9th October 2025
The Nigerian Naira continued to face headwinds in the parallel market today, with the black market exchange rate for the US Dollar stabilizing at ₦1,500 for selling and ₦1,480 for buying, according to Bureau De Change (BDC) operators in Lagos.
This marks a slight uptick from yesterday’s rates of ₦1,470/₦1,455, reflecting persistent volatility in Nigeria’s foreign exchange landscape. The parallel market, often referred to as the “Aboki” rate due to the informal traders who dominate it, remains a critical benchmark for everyday transactions, remittances, and small-scale imports.
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Traders at major hubs in Lagos, Abuja, Port Harcourt, and Kano reported steady demand for Dollars amid a backdrop of dollar scarcity, which has been exacerbated by limited foreign inflows and seasonal pressures on Nigeria’s import-dependent economy.
| Currency Pair | Buying Rate (₦) | Selling Rate (₦) | Change from Oct 8 |
|---|---|---|---|
| USD/NGN (Black Market) | 1,480 | 1,500 | +10 / +30 |
For context, the official rate set by the Central Bank of Nigeria (CBN) hovered around ₦1,600 in the Investors and Exporters (I&E) window earlier this week, highlighting the persistent premium on the black market.
Economists attribute the Naira’s struggles to factors including reduced diaspora remittances, global oil price fluctuations—Nigeria’s primary export—and delays in multilateral funding approvals.
The rate’s stability today offers a brief respite for businesses reliant on dollar-denominated imports, but experts urge vigilance. The International Monetary Fund (IMF) recently projected Nigeria’s GDP growth at 3.1% for 2025, contingent on forex reforms.
Meanwhile, parallel rates for other currencies showed mixed signals: the British Pound traded at ₦1,950/₦1,980, and the Euro at ₦1,620/₦1,650. As Nigeria navigates these turbulent waters, policymakers face mounting calls for transparency in forex allocation and diversification beyond oil.
For now, the black market remains a lifeline—and a litmus test—for the average Nigerian.
Stay tuned for updates as rates evolve. For live conversions, visit trusted platforms like AbokiFX or consult your local BDC.
