Aboki Naira To Dollar Black Market Rate Today 25th February 2025

The Nigerian Naira continues to experience fluctuations against the US Dollar in the parallel market, commonly referred to as the black market.

As of today, Wednesday, February 25, 2025, currency traders, popularly known as “Aboki” dealers, have pegged the exchange rate at approximately ₦1,500 to 1 USD, according to sources from bustling markets in Lagos and Abuja.

This rate reflects a slight appreciation compared to yesterday’s figure of ₦1,498.304, as reported by some online platforms tracking black market trends. Dealers noted that the buying rate hovered around ₦1,490, while the selling rate reached ₦1,500, showcasing the typical spread in the unregulated market. These figures, however, can vary slightly across different regions and even between individual traders due to the informal nature of the parallel market.

The black market rate remains significantly higher than the official exchange rate set by the Central Bank of Nigeria (CBN), highlighting the ongoing disparity between regulated and unregulated forex channels. Economic analysts attribute this gap to persistent foreign exchange shortages, high demand for dollars for international transactions, and limited access to official currency markets for many Nigerians.

A trader at the Wuse Zone 4 market in Abuja remarked, “The rate fluctuates every day. Yesterday, we saw a small dip, but today, demand pushed it back up a bit. People need dollars for imports, school fees, and travel, and the banks can’t meet everyone’s needs.” Another dealer in Lagos echoed similar sentiments, noting that the market remains volatile due to economic uncertainties and speculative trading.

The CBN continues to discourage reliance on the black market, urging individuals and businesses to use official banking channels for forex transactions. However, the convenience and accessibility of Aboki dealers keep the parallel market thriving, especially for those unable to secure dollars through formal means.

As Nigeria navigates its economic challenges, the Naira’s value in the black market remains a critical indicator of public sentiment and purchasing power. With no immediate resolution to the forex crunch in sight, Nigerians are bracing for continued fluctuations in the days ahead.

For now, the Aboki rate of ₦1,500 to 1 USD stands as the benchmark for many engaging in informal currency exchanges across the country on this 25th of February, 2025.