Aboki Naira to Dollar Black Market Rate Today, 21st May 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by various sources, continues to reflect the ongoing volatility in Nigeria’s parallel currency market.

According to data gathered from street traders and online platforms like AbokiPure.com and Nairatoday.com, the Dollar to Naira black market rate in major cities such as Lagos, Abuja, Port Harcourt, and Kano is approximately ₦1,610 to ₦1,630 for buying and ₦1,600 to ₦1,615 for selling per US Dollar. These rates show slight fluctuations compared to yesterday’s figures, with some sources noting a marginal appreciation of the Naira.

The black market, also known as the parallel market, remains a critical avenue for currency exchange in Nigeria due to persistent foreign currency shortages in the official market regulated by the Central Bank of Nigeria (CBN). On May 20, 2025, the CBN’s official exchange rate was reported at approximately ₦1,610 to $1, aligning closely with the black market rate, a rare occurrence that signals efforts to stabilize the Naira. However, the parallel market continues to thrive due to its accessibility and ability to meet the high demand for dollars driven by importation, travel, and international payments.

Reports indicate that the black market rates can vary slightly across different regions and even among Bureau De Change (BDC) operators within the same city. For instance, a source in Abuja’s Wuse Zone 4 market quoted a buying rate of ₦1,605 and a selling rate of ₦1,620 for the Dollar, while Lagos markets reported slightly higher rates.

Experts attribute these variations to unregulated market dynamics and local demand-supply imbalances. “The black market is highly sensitive to rumors, geopolitical tensions, and dollar availability,” said a Lagos-based currency trader. “Rates can shift multiple times in a single day.”

The Naira’s performance has been scrutinized amid Nigeria’s economic challenges, including declining oil prices and high import dependency. Despite recent efforts by the CBN to stabilize the currency, including retaining the benchmark interest rate at 27.5%, as reported by Reuters, the parallel market continues to reflect economic uncertainties.

Caution is advised for those engaging in black market transactions. Experts recommend comparing rates from multiple sources, including trusted platforms like AbokiPure.com and street traders, to avoid scams or counterfeit currency. The CBN has repeatedly warned against illegal forex trading, citing legal and financial risks associated with the black market.

As the Naira navigates a complex economic landscape, Nigerians are encouraged to stay informed through reliable sources and exercise diligence in currency exchange. For real-time updates, platforms like AbokiPure.com and Nairatoday.com remain go-to resources for tracking black market rates.