Aboki Naira to Dollar Black Market Rate Today, 14th March 2025

The Nigerian Naira continues to experience fluctuations against the United States Dollar in the parallel (black) market, with the exchange rate on Friday, March 14, 2025, reflecting ongoing economic pressures.

According to sources from Bureau De Change (BDC) operators, commonly referred to as “Aboki” traders, the black market exchange rate for the Naira to Dollar today stands at approximately ₦1,585 to 1 USD.

The black market rate represents the unofficial exchange rate at which currencies are traded outside the regulated banking system. In Nigeria, this rate often differs significantly from the official exchange rate set by the Central Bank of Nigeria (CBN), which has not yet released its official figures for today.

The disparity is largely driven by high demand for foreign currency, limited supply, and ongoing economic challenges, including inflation and foreign exchange scarcity.

Currency dealers in major hubs such as Lagos, Abuja, and Kano reported slight variations in rates depending on location and transaction volume. In Lagos, the buying rate hovered around ₦1,575, while the selling rate was approximately ₦1,585 to ₦1,590. These rates are subject to change throughout the day as market conditions evolve.

Economic analysts attribute the Naira’s performance in the black market to several factors, including Nigeria’s reliance on imported goods, fluctuations in global oil prices, and inconsistent foreign exchange policies.

Despite efforts by the CBN to regulate and stabilize the forex market, the parallel market remains a critical resource for individuals and businesses unable to access foreign currency through official channels.

Traders and financial experts advise caution when engaging in black market transactions, emphasizing the importance of verifying rates with reputable dealers to avoid scams. “The black market is highly volatile, and rates can shift rapidly,” said Adebayo Ogunleye, a Lagos-based currency trader. “It’s crucial to stay informed and work with trusted operators.”

The CBN has not commented on the black market rates for March 14, 2025. Historically, the apex bank has discouraged using the parallel market, urging Nigerians to utilize official banking channels for forex transactions. However, the persistent gap between official and black market rates continues to fuel activity in the informal sector.

For the latest Aboki Naira to Dollar black market rate updates, individuals are encouraged to monitor real-time platforms and consult with local BDC operators. The economic landscape remains dynamic, and further developments are expected as the day progresses.