Aboki Naira to Dollar Black Market Rate Today, 8th June 2025
As of today, June 8, 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, continues to reflect the ongoing economic dynamics in the country.
According to sources tracking the parallel market, the Dollar to Naira exchange rate is averaging ₦1,605 for buying and ₦1,615 for selling per US Dollar across major cities like Lagos, Abuja, Port Harcourt, and Kano.
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The black market, which operates outside the Central Bank of Nigeria’s (CBN) regulated channels, remains a critical source of foreign currency for many Nigerians due to limited access to dollars through official markets. The slight spread between the buying and selling rates reflects the profit margin for Bureau De Change (BDC) operators and the high demand for dollars driven by importation, travel, and international payments.
Compared to the official CBN rate, which stands at approximately ₦1,564 per US Dollar as of June 7, 2025, the black market rate is notably higher, highlighting the persistent gap between official and parallel markets. This disparity is attributed to factors such as foreign currency scarcity, speculative trading, and a lack of confidence in the official market, which prompts individuals and businesses to turn to the black market for quicker access to dollars.
Recent reports indicate that the Naira has shown signs of stabilization in the lead-up to the Eid al-Adha celebrations, with some sources noting a marginal gain against the dollar. However, the black market rate remains volatile, fluctuating daily based on supply and demand dynamics, news, and market speculation.
Experts advise caution when engaging in black market transactions due to the inherent risks, including potential scams and legal implications. Nigerians looking to exchange dollars are encouraged to verify rates with reputable BDC operators and cross-check with multiple sources, such as trusted online platforms like AbokiFX or local street traders, to ensure fair deals.
As Nigeria navigates its economic challenges, including import dependency and limited foreign direct investment, the black market continues to play a significant role in the country’s forex landscape. For the latest updates on the Dollar to Naira exchange rate, individuals are advised to monitor credible forex blogs and social media platforms where real-time rates are frequently shared.
Note: Black market exchange rates are subject to change throughout the day and may vary by location. Always exercise caution and deal with trusted currency exchange providers.
