Aboki Naira To Dollar Black Market Rate Today 5th March 2025

The black market exchange rate for the Nigerian Naira (NGN) against the US Dollar (USD), commonly known as the “Aboki rate,” has shown slight fluctuations today, reflecting ongoing economic dynamics in Nigeria’s informal forex market.

As of today, currency traders in major hubs like Abuja, Lagos, and Kano reported that the US Dollar was being bought at approximately ₦1,495 and sold at ₦1,505 on the parallel market.

According to Bureau De Change (BDC) operators, these rates mark a marginal shift from yesterday’s figures, which hovered around ₦1,498 for buying and ₦1,505 for selling, various forex tracking platforms. Traders attribute this relative stability to a temporary balance in dollar supply and demand within the black market despite persistent challenges such as inflation, limited foreign exchange liquidity, and tightened official market regulations by the Central Bank of Nigeria (CBN).

In Abuja’s bustling Wuse Zone 4, a popular hub for currency exchange, some dealers quoted slightly higher selling rates of up to ₦1,510, citing regional demand and logistical costs. Meanwhile, in Lagos, the economic capital rates remained consistent with the national average, with traders emphasizing caution amid rumours of potential CBN interventions to curb parallel market activities.

Due to difficulties accessing dollars through official channels, the Aboki exchange rate continues to serve as a critical benchmark for many Nigerians who rely on the black market. For instance, exchanging $100 today would yield approximately ₦149,500 at the buying rate or cost ₦150,500 at the selling rate, highlighting the premium placed on foreign currency in the informal sector.

Economic analysts note that the disparity between the black market and official rates—where the CBN rate is significantly lower—underscores the ongoing pressure on the Naira. This gap has fueled debates about the effectiveness of current monetary policies and the need for reforms to stabilize Nigeria’s forex market.

As the day progresses, traders and consumers alike are keeping a close watch on market trends, with many hoping for sustained stability or an increase in dollar inflows to ease the strain on the Naira. For now, the Aboki rate remains a vital pulse of Nigeria’s economic reality on this 5th day of March 2025.