Aboki Naira to Dollar Black Market Rate Today, 17th May 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) remains a focal point for Nigerians navigating the volatile foreign exchange landscape.

As of today, Saturday, May 17, 2025, the black market, commonly referred to as the “Aboki” market, has recorded a Dollar to Naira exchange rate of approximately ₦1,617.806 for buying and ₦1,627.806 for selling, according to real-time updates from trusted sources.

This rate reflects a marginal fluctuation compared to recent days, with the Naira showing slight stability against the Dollar in the parallel market. On May 16, 2025, the black market rate was reported at an average of ₦1,620 for buying and ₦1,635 for selling, indicating a slight appreciation of the Naira today. The difference between buying and selling rates, known as the spread, continues to allow black market dealers to profit amid high demand for foreign currency.

The black market remains a critical avenue for accessing foreign currency in Nigeria due to the Central Bank of Nigeria’s (CBN) regulated supply in the official market. High demand for Dollars, driven by importation, international travel, and commercial activities, continues to push rates higher in the unregulated parallel market.

Additionally, Nigeria’s economic challenges, including inflation (recently reported at 23.71% in April 2025) and reliance on imports, exert pressure on the Naira’s value. Recent reports also highlight the CBN’s efforts to boost forex liquidity through non-oil export strategies and the introduction of non-resident BDC initiatives, which have contributed to a slight appreciation of the Naira in both official and parallel markets. However, the black market’s rates remain significantly higher than the official CBN rates, which are now aligned with the Investors and Exporters (I&E) window.

Currency dealers in major hubs like Lagos, Abuja, and Kano have noted slight variations in rates due to local demand and supply dynamics. For instance, in Abuja’s Wuse Zone 4 market, dealers quoted rates as low as ₦1,605 for buying and ₦1,620 for selling earlier this week, though today’s rates align closer to the national average. Experts advise caution when exchanging large sums, as the unregulated nature of the black market can lead to price disparities across different locations.

The persistent gap between official and black market rates continues to impact businesses and individuals reliant on foreign currency. Importers and travelers, in particular, face higher costs when sourcing Dollars from the parallel market. Meanwhile, as noted in recent reports, the gradual appreciation of the Naira offers hope for improved economic stability if sustained.

For real-time updates, Nigerians are encouraged to consult trusted platforms like AbokiPure.com or Bureau De Change (BDC) operators. Social media platforms also provide frequent rate updates from traders and consumers.

As the Naira navigates these economic currents, analysts urge the government to address structural issues like import dependency and bureaucratic hurdles to strengthen the currency’s value in the long term. The Aboki black market remains a vital, albeit volatile, lifeline for many in Nigeria’s forex ecosystem.

Disclaimer: Black market exchange rates are subject to rapid changes and may vary by location. Always verify rates with trusted local dealers before transactions.