Aboki Naira To Dollar Black Market Rate Today 8th February 2025

As of Saturday, February 8, 2025, the Nigerian Naira continues to fluctuate against the US Dollar in the parallel market, commonly referred to as the “Aboki” or black market.

Based on recent updates from various sources, including posts on social media and reports from currency exchange platforms, the black market exchange rate for the US Dollar to Naira has been recorded at the following average rates across major trading hubs in Nigeria, particularly in Lagos and Abuja:

• Buying Rate (USD to NGN): ₦1,555  
• Selling Rate (USD to NGN): ₦1,565

These rates reflect a slight improvement compared to earlier in the week. Social media posts indicate that on February 7, 2025, the dollar was bought at ₦1,555 and sold at ₦1,565 in some areas. However, rates can vary slightly depending on the location and the specific dealer.

The Naira’s performance in the black market remains influenced by several factors, including Nigeria’s foreign exchange liquidity challenges, fluctuations in global oil prices, and recent economic policies. The disparity between the official exchange rate and the black market rate continues to highlight the complexities of Nigeria’s dual exchange rate system. While the official rate often lags behind, the black market is a key indicator of real-time street currency valuation.

Economic analysts have noted that the marginal stability observed today could be attributed to cautious optimism in the market. However, sustained pressure from government debt, inflation, and limited foreign exchange reserves continues to weigh on the Naira’s long-term outlook.

Social media platforms and exchange rate monitoring websites, such as Abokiforex.app, have reported stable but cautious sentiment among traders. Many are closely watching for any policy shifts from the Central Bank of Nigeria (CBN) that could impact the market. Due to restrictions or delays in accessing the official market, the black market remains a critical space for many Nigerians who rely on it for foreign exchange.

For those looking to exchange currency, experts recommend the following:

• Verify Rates: Always check the current black market rate before proceeding with any transaction, as rates can fluctuate rapidly.
• Use Reputable Dealers: Engage with trusted and well-known exchange providers to avoid scams or counterfeit currency.
• Stay Informed: Monitor economic trends and policy announcements that could influence the Naira’s value.

Analysts suggest that the Naira’s long-term stability will depend on efforts to boost foreign exchange reserves, enhance productivity, and attract foreign investment. Until then, the black market will likely remain a vital barometer of the currency’s street-level value.

For the latest updates on Aboki Naira to Dollar black market rates, traders and consumers are encouraged to consult reliable platforms and stay informed about economic developments.

Disclaimer: The Central Bank of Nigeria does not regulate the black market, and rates are subject to rapid change. This report is for informational purposes only and does not constitute financial advice.