Aboki Naira To Dollar Black Market Rate Today 11th February 2025

As of today, February 11, 2025, the Nigerian Naira continues to experience fluctuations against the US Dollar in the parallel market, commonly referred to as the “Aboki” or black market.

According to recent updates from currency exchange platforms and social media posts, the black market exchange rate for the US Dollar to Naira has been recorded at an average buying rate of ₦1,560 and a selling rate of ₦1,580 across major trading hubs in Nigeria, particularly in Lagos and Abuja.

The black market rates reflect a slight depreciation of the Naira compared to earlier in the week, when the dollar was reportedly bought at ₦1,555 and sold at ₦1,565 in some areas, as shared in social media posts on February 7, 2025.

Analysts attribute this shift to ongoing economic pressures, including high demand for foreign currency for international transactions such as education, medical treatments abroad, and goods imports. The disparity between the official and black market rates continues to highlight the challenges of Nigeria’s dual exchange rate system.

The Central Bank of Nigeria (CBN) has been implementing various monetary policies to stabilize the Naira, but the parallel market often reacts swiftly to these changes, sometimes with outcomes contrary to the government’s intentions. President Tinubu‘s administration has set ambitious targets to reduce inflation from 34.6% to 15% by the end of 2025, which could have significant implications for currency stability across official and informal markets.

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. The black market’s higher rates than official rates underscore the complexities of Nigeria’s foreign exchange market, influenced by factors such as government debt, oil price volatility, and global economic conditions.

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. When exchanging currency on the black market, it is crucial to deal only with reputable dealers to avoid scams, request a written receipt for the exchange, be aware of the current black market exchange rate before exchanging currency, and avoid exchanging large amounts of currency at once to minimize risk.

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. Refer to the Central Bank of Nigeria or authorized financial institutions for official rates.