Aboki Naira to Dollar Black Market Rate Today, 15th March 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) remains a key concern for traders, businesses, and individuals in Nigeria as economic pressures persist.

As of today, Saturday, March 15, 2025, currency dealers across major hubs such as Abuja, Lagos, and Kano have reported the latest parallel market rates, commonly referred to as the “Aboki” exchange rate.

Current Black Market Rates (March 15, 2025):

• Abuja (Wuse Zone 4, BDC Operators): Buying at ₦1,580, Selling at ₦1,590
• Lagos: Buying at ₦1,585, Selling at ₦1,595
• Kano: Buying at ₦1,580, Selling at ₦1,590

These rates are based on reports from traders in the respective cities, though slight variations may exist depending on demand, location, and individual dealers.

Black Market vs. Official Exchange Rate

The black market rate remains significantly higher than the official exchange rate set by the Central Bank of Nigeria (CBN). While the CBN has not yet released its official rate for today, recent trends suggest it could range between ₦1,500 and ₦1,550 per dollar, following ongoing monetary policy adjustments aimed at stabilizing the Naira.

Factors Influencing the Black Market Exchange Rate

Several factors continue to drive fluctuations in the black market, including:

• Foreign Exchange Supply Shortages – Limited access to dollars through official channels.
• High Demand for Imports & International Transactions – Businesses and individuals rely on the parallel market to meet forex needs.
• Global Oil Price Volatility – Nigeria’s forex earnings are directly impacted by crude oil price changes.
• Inflation & Economic Uncertainty – Ongoing economic challenges put additional pressure on the Naira.

Caution Advised for Black Market Transactions

Financial experts urge caution when dealing in the black market due to its volatile and unregulated nature. Forex trader Chinedu Okeke, based in Lagos, warns:

“The black market is unpredictable, so it’s important to verify rates and work only with trusted dealers to avoid scams.”

He also recommends monitoring real-time updates from reliable platforms like Aboki Forex and NgnRates for the most accurate exchange rate information.

Final Thoughts

As Nigeria navigates economic challenges such as inflation, forex shortages, and policy reforms, the Aboki black market rate remains a crucial benchmark for those seeking alternative forex exchange options.

For the latest updates on the Dollar to Naira exchange rate, individuals are encouraged to rely on trusted sources and stay informed about economic developments that may impact the market.