Aboki Naira to Dollar Black Market Rate Today, 4th May 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki rate,” has shown slight fluctuations in the Lagos parallel market today.
According to sources from Bureau De Change (BDC) operators, the dollar was bought at ₦1,593 and sold at ₦1,610 on Saturday, May 4, 2025, reflecting a stable yet cautious trading environment.
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As of this morning, posts on social media indicate a marginal adjustment, with the black market rate for 1 USD reported at approximately ₦1,593.52. This suggests a minor depreciation of the Naira compared to the official market, where the Naira traded at ₦1,602.18 per dollar on May 4, according to the Central Bank of Nigeria (CBN). The CBN continues to distance itself from the parallel market, urging individuals to conduct foreign exchange transactions through authorized banks.
The black market, often driven by unregulated street traders known as “Aboki” exchangers, remains a critical avenue for many Nigerians seeking foreign currency due to its accessibility. However, rates can vary significantly across regions and even within markets due to the lack of regulation.
Experts note that the ongoing disparity between the official and black market rates underscores broader economic challenges, including foreign exchange scarcity and import dependency.
Economic analysts attribute the Naira’s recent performance to a combination of factors, including global oil price dynamics and Nigeria’s mono-economic structure.
For those engaging in currency exchange, caution is advised. Scams in the black market are not uncommon, with reports of fraudulent exchangers exploiting unsuspecting customers. The public is encouraged to verify rates and deal only with trusted providers to avoid losses.
Stay tuned for real-time updates on the USD/NGN black market exchange rate. Fluctuations are expected to continue amid evolving economic conditions.
Disclaimer: Black market rates are unofficial and subject to rapid changes. For official rates, consult the Central Bank of Nigeria or authorized financial institutions.
