Aboki Naira to Dollar Black Market Rate Today, 30th 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 fluctuations in Nigeria’s informal currency market.

As of today, the average black market rates across major cities like Lagos, Abuja, Port Harcourt, and Kano indicate that 1 USD is being bought at approximately ₦1,625 and sold at ₦1,630.

This represents a slight increase from yesterday’s rates, where the dollar was traded at ₦1,620 (buy) and ₦1,625 (sell), signaling persistent pressure on the Naira in the parallel market. The black market, also known as the parallel market, continues to thrive due to limited access to foreign currency through official channels, high demand for dollars for importation, travel, and international payments, and a lack of confidence in the official exchange rate regulated by the Central Bank of Nigeria (CBN).

For comparison, the official CBN exchange rate as of May 20, 2025, was reported at ₦1,610 per USD, highlighting the premium charged in the black market. Meanwhile, posts on social media suggest that mid-market rates from financial services hover around ₦1,587–₦1,588, with black market rates reaching as high as ₦1,620 in some instances. These disparities highlight the volatility and regional variations in the informal market, where rates can fluctuate daily in response to supply, demand, and speculative activities.

Analysts note that the Naira’s performance in the black market is influenced by Nigeria’s economic challenges, including a dependence on imports and constrained foreign currency reserves. The gap between official and black market rates has persisted since the 1980s, with historical policies like the Second-Tier Foreign Exchange Market (SFEM) and the Autonomous Foreign Exchange Market (AFEM) contributing to the rise of the parallel market.

Traders and individuals seeking to exchange currencies are advised to exercise caution, as black market transactions carry legal and financial risks, including exposure to scams and counterfeit currency. For the most accurate and up-to-date rates, sources such as AbokiPure.com, street traders, and Nigerian news outlets are recommended; however, rates may vary slightly by location.

As Nigeria navigates its economic landscape, the black market remains a critical, albeit unregulated, component of the forex ecosystem, reflecting the realities of currency scarcity and economic pressures.

Disclaimer: Black market exchange rates are subject to rapid changes and may vary by location. Always verify rates with multiple trusted sources before engaging in transactions.