Aboki Naira To Dollar Black Market Rate Today 15th January 2025

On January 15, 2025, the Nigerian Naira has experienced a nuanced shift in its value against the US Dollar in the parallel market, often referred to as the ‘Aboki’ market.

According to various sources, the exchange rate for the US Dollar to Naira at the Lagos Parallel Market (Black Market) is currently pegged at a buying rate of N1,665 and a selling rate of N1,675. This marks a small change from the previous day’s rates, reflecting the ongoing volatility in Nigeria’s unofficial currency market.

The black market rate, which provides an alternative to the official rates set by the Central Bank of Nigeria (CBN), has been a focal point for many Nigerians due to its impact on everyday transactions, import costs, and travel expenses. The rates are influenced by several factors, including supply and demand dynamics, government policies, and global economic conditions.

Market analysts have observed that while there has been a marginal stabilization in the black market rates, the broader economic context, including President Tinubu‘s commitment to reducing inflation from 34.6% to 15% by the end of 2025, plays a crucial role in the Naira’s valuation. Despite the CBN’s efforts to stabilize the currency through various forex policy adjustments, the gap between the official and parallel market rates continues to be significant, highlighting the challenges in managing the Naira’s value.

The black market’s rates are particularly sensitive to the availability of foreign currency, with many Nigerians turning to this market for transactions due to restrictions or delays in the official channels. This morning, the market has shown signs of a modest recovery from recent lows, though experts caution that the market remains unpredictable, with rates capable of changing swiftly based on new developments.

For those looking to exchange currency, the advice remains to stay updated through multiple sources, including checking rates from various Bureau De Change (BDC) operators and being aware of the official rates published by the CBN.