Aboki Naira To Dollar Black Market Rate Today 10th March 2025

The Nigerian Naira continues to experience fluctuations against the US Dollar in the parallel (black) market, with the latest exchange rates reflecting ongoing economic pressures and currency demand.

As of today, Monday, March 10, 2025, the Aboki black market exchange rate for the US Dollar to Naira stands at an average of ₦1,550 to buy and ₦1,580 to sell, according to local currency traders in Lagos and Abuja.

The black market, often referred to as the “Aboki” market due to the informal traders who dominate it, remains a critical indicator of the Naira’s real-world value outside the official Central Bank of Nigeria (CBN) rates.

Today’s rates show a slight depreciation compared to last week’s figures, when the Naira hovered around ₦1,520 to ₦1,550 against the Dollar in the parallel market. Currency dealers attribute this shift to increased demand for foreign exchange amid limited supply, coupled with seasonal factors and economic uncertainties.

A currency trader in Lagos, who preferred to remain anonymous, stated, “The demand for Dollars is high right now because of import needs and people preparing for international travel. But the supply is not keeping up, so the rates are climbing again.” Another trader in Abuja noted that the black market rates can vary slightly across regions, with some areas reporting selling rates as high as ₦1,590.

As of the last update, the official CBN exchange rate remains significantly lower than the black market rates, creating a wide gap that continues to drive activity in the parallel market. This disparity has long been a point of contention, with many Nigerians relying on the black market for faster and more accessible foreign exchange transactions despite the risks of scams and unregulated dealings.

Economic analysts suggest that the Naira’s performance in the black market is influenced by several factors, including Nigeria’s foreign exchange reserves, oil prices, and government policies aimed at stabilizing the currency. Recent efforts by the CBN to unify exchange rates and crack down on illegal currency trading have had mixed results, with the parallel market remaining a dominant force in the forex landscape.

Experts advise caution when Nigerians are looking to exchange currency today. “Always verify rates with trusted dealers and avoid exchanging large amounts without proper documentation,” warned a financial consultant based in Lagos. “The black market is unpredictable, and rates can change within hours.”

As of now, the Aboki black market rates for other major currencies include:

• Euro (EUR): ₦1,620 (buy) / ₦1,650 (sell)  
• British Pound (GBP): ₦1,950 (buy) / ₦1,980 (sell)

These figures are subject to change throughout the day as market conditions evolve. Individuals are encouraged to consult local dealers or reliable online platforms tracking black market rates for the most current updates.

The ongoing volatility in the Naira-Dollar exchange rate underscores Nigeria’s economy’s broader challenges, including inflation, foreign exchange shortages, and dependence on imported goods. As the situation develops, all eyes remain on the government and the CBN for potential interventions to stabilize the currency and bridge the gap between official and black market rates.

Stay tuned for further updates on the Aboki Naira to Dollar exchange rate and its implications for Nigeria’s economic landscape.