Aboki Naira to Dollar Black Market Rate Today, 14th May 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki rate,” remains a focal point for Nigerians navigating the country’s volatile forex market.

As of today, Wednesday, May 14, 2025, the black market rate for 1 USD stands at approximately ₦1,621.14, according to reliable sources monitoring parallel market activities in Lagos and Abuja.

The buying rate in the black market is reported at around ₦1,615, while the selling rate hovers at ₦1,625, reflecting slight variations across different locations such as Abuja’s Wuse Zone 4 and Lagos’ major currency exchange hubs.

These rates, sourced from Bureau De Change (BDC) operators, highlight the ongoing disparity between the parallel market and the official Central Bank of Nigeria (CBN) rates, which are typically lower. The CBN rate, now aligned with the Investors and Exporters (I&E) window, is estimated to be significantly less, creating arbitrage opportunities and challenges for businesses and individuals.

Over the past week, the USD/NGN black market rate has shown relative stability, with fluctuations between ₦1,587.50 and ₦1,624.30, as reported on platforms tracking currency trends. Despite this, economic analysts note that the Naira’s value remains under pressure due to Nigeria’s reliance on imports, limited foreign direct investment, and persistent forex shortages. A recent post on X emphasized the current rate, stating, “Black Market Rate: 1 USD ⇛ ₦1,621.142,” reflecting real-time sentiment in the market.

The black market, often driven by supply and demand dynamics, continues to thrive despite government efforts to unify exchange rates and curb informal trading. Currency dealers warn that rates may vary slightly across regions due to the unregulated nature of the market. “The rates we provide are averages; prices can differ depending on the location and the dealer,” a Lagos-based exchanger noted.

As Nigeria grapples with economic challenges, including inflation and rising commodity prices, the black market remains a critical avenue for accessing foreign currency. However, experts urge caution, advising against exchanging large sums at once due to the risk of scams and rate volatility. Platforms like Aboki Forex and NgnRates.com offer real-time updates for those seeking to exchange dollars, though they emphasize that their data is for informational purposes only.

The Nigerian government continues to push policies like the “Naira-for-Crude” initiative to stabilize the currency, but the black market’s resilience underscores the complexity of the forex crisis. Nigerians looking to exchange 100 USD in the black market can expect to receive approximately ₦162,114 at today’s rate, while selling the same amount would yield slightly less.

Stay tuned for daily updates on the USD/NGN exchange rate as the economic landscape evolves. For more information, visit trusted platforms like Aboki Forex or contact local BDC operators.

Disclaimer: Black market rates are subject to change and may vary by location. Always verify rates with trusted exchangers before trading.