Aboki Naira to Dollar Black Market Rate Today, 17th April 2025

As of Thursday, April 17, 2025, the Nigerian Naira continues to experience volatility against the US Dollar in the parallel market, often referred to as the “Aboki” black market.

In key trading hubs like Lagos’ Zone 4 market and Abuja, the exchange rate for the US Dollar to Naira is currently about ₦1,602 for buying and ₦1,615 for selling. These figures show slight fluctuations from earlier this week, indicating ongoing instability in Nigeria’s informal foreign exchange market.

The disparity between black market rates and the official Central Bank of Nigeria (CBN) rate of approximately ₦1,604 per USD is driven by high demand for dollars coupled with limited supply. Nigeria’s dependency on oil exports, combined with a recent drop in oil production to 1.4 million barrels per day in March, has further strained dollar availability, negatively impacting the Naira’s value.

Currency traders in Abuja’s Wuse Zone 4 plaza report similar trends, with some quoting buying rates as low as ₦1,600 and selling rates at around ₦1,620, depending on the transaction volume and location. “The market is tight right now; dollars aren’t easy to come by,” said a trader at Fabdal Plaza in Abuja. “Successful transactions matter more than chasing high rates.”

The Naira’s performance in the black market remains a key indicator of Nigeria’s economic sentiment. Analysts attribute the persistent gap between official and parallel market rates to structural issues such as foreign exchange scarcity and speculative trading. While the CBN has ramped up efforts to stabilize the Naira, the black market continues to thrive as businesses and individuals seek dollars for international transactions, travel, and imports.

Other Currency Rates:

• Euro to Naira: Buying at ₦1,814, selling at ₦1,820
• Pound to Naira: Buying at ₦1,990, selling at approximately ₦2,000

Financial experts urge Nigerians to monitor exchange rates carefully and exercise caution when engaging in black market transactions due to their unregulated nature. “Rates can vary slightly across markets, so always check with trusted dealers,” advised a Lagos-based currency analyst. Websites like Nairatoday and Aboki Forex offer daily updates for those tracking black market trends.

As the Naira faces these challenges, businesses, travelers, and investors are encouraged to stay informed and plan their transactions strategically to minimize the impact of exchange rate fluctuations.