Aboki Naira to Dollar Black Market Rate Today, 5th May 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) in Nigeria’s parallel market, commonly referred to as the “Aboki” market, has shown slight fluctuations today, reflecting ongoing economic dynamics.
According to sources from Bureau De Change (BDC) operators in Lagos, the dollar was bought at ₦1,595 and sold at ₦1,600 on Sunday, May 4, 2025, with similar rates reported today, Monday, May 5, 2025.
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Posts on social media indicate that the black market rate for 1 USD hovered around ₦1,595.129 as of 7:00 AM today, a marginal increase from ₦1,593.979 reported late on May 4, 2025. These rates, while unofficial, are widely referenced by individuals and businesses engaging in foreign exchange transactions outside the regulated banking system.
The Central Bank of Nigeria (CBN) does not recognize the parallel market and has consistently urged citizens to conduct forex transactions through licensed banks to ensure transparency and stability. However, the black market remains a significant avenue for currency exchange due to its accessibility and flexibility, despite its unregulated nature, which leads to price variations across different markets.
In contrast, the official exchange rate, as tracked by platforms like Wise, stood at approximately ₦1,593.98 per USD today, reflecting a relatively stable performance over the past week with a slight decline of -0.652% compared to seven days ago. The gap between official and black market rates remains narrow, suggesting some alignment in market sentiments, though the parallel market’s volatility continues to influence public perception.
BDC operators in Abuja’s Wuse Zone 4 plaza reported slightly higher rates, with dollars being bought at ₦1,605 and sold at ₦1,620, indicating regional variations in the black market. Traders advise caution, recommending that individuals avoid exchanging large sums at once due to the market’s unpredictability.
As Nigeria navigates its economic challenges, the black market exchange rate remains a critical indicator of currency demand and supply. Citizens are encouraged to stay informed through reliable platforms like Aboki Forex and monitor official channels for guidance on forex transactions. For the latest updates, visit trusted exchange rate trackers or contact local BDCs.
Disclaimer: Black market rates are unofficial and subject to change. Always verify rates with trusted sources before engaging in transactions.
