Aboki Naira to Dollar Black Market Rate Today, 29th May 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by Aboki Forex and other parallel market sources, reflects ongoing volatility in Nigeria’s informal forex market.

According to real-time updates from Bureau De Change (BDC) operators across major cities like Lagos, Abuja, Port Harcourt, and Kano, the Dollar to Naira black market rate on May 29, 2025, stands at approximately ₦1,620 for buying and ₦1,625 for selling per US Dollar.

This represents a slight increase from yesterday’s rates, which were reported at around ₦1,615 (buying) and ₦1,620 (selling). The marginal uptick aligns with persistent demand for foreign currency in the parallel market, driven by limited access to dollars through official channels and ongoing economic pressures.

In contrast, the official Central Bank of Nigeria (CBN) exchange rate for USD to NGN is significantly lower, hovering around ₦1,587–1,588, as reported by financial services platforms. This disparity highlights the ongoing challenges in Nigeria’s foreign exchange market, where currency scarcity and high demand for dollars for importation, travel, and international payments continue to fuel the prominence of the black market.

Economic analysts attribute the sustained gap between official and black market rates to structural issues, including Nigeria’s reliance on oil exports and bureaucratic hurdles that deter foreign investment. “The black market thrives because the official market cannot meet the dollar demand,” said Chidi Okoye, a Lagos-based forex trader. “Until we see significant foreign exchange inflows or policy reforms, these rates will remain elevated.”

Nigerians seeking to exchange dollars are advised to approach trusted BDC operators and compare rates across multiple sources, as black market transactions carry inherent risks, including exposure to scams and counterfeit currency. For the latest updates, platforms like AbokiPure.com, Monierate, and social media groups provide real-time insights into black market trends.

Disclaimer: Black market exchange rates are unofficial and subject to rapid fluctuations. Readers are cautioned to verify rates with local traders before engaging in transactions.