Aboki Naira To Dollar Black Market Rate Today 12th February 2025

The Nigerian Naira continues to experience volatility in the parallel (black) market, with the latest exchange rates for the US Dollar (USD) reflecting ongoing economic challenges.

According to local currency dealers, commonly referred to as “Aboki” traders, the black market exchange rate for the Naira against the US Dollar on Wednesday, February 12, 2025, is as follows:  

• Buying Rate (USD to NGN): ₦1,560  
• Selling Rate (USD to NGN): ₦1,580

These rates are based on recent social media posts, which indicate current sentiment and average rates across major Nigerian cities like Lagos and Abuja. However, these figures are inconclusive and should be treated cautiously, as the black market operates outside official oversight.  

Economic analysts note that the Naira’s performance in the black market is influenced by several factors, including foreign currency inflows, oil revenues, and global economic trends. Nigeria’s dependence on oil exports continues to play a significant role in the availability of dollars in the market. Recent government policies aimed at increasing forex inflows have had mixed results, with the black market remaining unpredictable.  

Currency dealers in major hubs like Lagos’ Wuse Zone 4 and Abuja report that while today’s rates suggest a slight appreciation compared to earlier in the month, the market remains volatile. “The dollar rate changes every few hours,” said a local trader. “We buy and sell based on what we hear from other dealers and the demand on the streets.”  

The disparity between the official and black market rates continues to affect everyday transactions, particularly for those involved in international trade, travel, or remittances. The high cost of dollars in the parallel market has also contributed to inflationary pressures, as the cost of imported goods and services rises.  

Economic experts urge the government to address structural issues, such as improving forex liquidity and reducing reliance on oil exports, to stabilize the Naira in the long term. In the meantime, individuals and businesses are advised to exercise caution when engaging in black market transactions and to verify rates from multiple sources.  

While accessible, the black market carries risks such as potential scams and a lack of regulation. Users are encouraged to only exchange currency with reputable dealers, ask for a written receipt for the exchange, be aware of the current black market exchange rate before exchanging currency, and avoid exchanging large amounts of currency at once.  

The Naira’s value in the black market is expected to remain volatile in the short term, with fluctuations driven by both domestic and international factors. Analysts suggest that sustained efforts to boost non-oil exports and improve investor confidence could help stabilize the currency over time.  

For the latest updates on exchange rates, individuals are advised to monitor trusted platforms and consult with financial experts.