Aboki Naira to Dollar Black Market Rate Today, 18th April 2025

The Nigerian Naira continues to face significant pressure against the US Dollar in the parallel market—popularly known as the “Aboki” market—as ongoing economic uncertainties and limited foreign exchange supply fuel daily fluctuations in the exchange rate.

As of April 18, 2025, currency dealers in major trading hubs such as Lagos and Abuja report that the dollar is being bought at approximately ₦1,585 and sold at around ₦1,595. This reflects a modest appreciation of the Naira compared to earlier in the week, when rates were hovering between ₦1,610 and ₦1,615.

Street-level traders, commonly referred to as “Aboki” dealers, noted that demand for US dollars remains steady amid restricted access to foreign currency through official banking channels. “The market is relatively calm today, but people are still cautious,” said Musa Ibrahim, a currency trader at Lagos’ Zone 4 market. “The Naira’s value shifts almost daily, and everyone is waiting to see what the Central Bank might do next.”

Despite being unofficial, the black market remains a vital resource for many Nigerians, facilitating foreign transactions related to trade, travel, and remittances. The official Central Bank of Nigeria (CBN) rate currently stands at approximately ₦1,604 per USD, highlighting the persistent gap between official and parallel market valuations.

Analysts continue to point to Nigeria’s heavy reliance on oil exports, volatile global crude prices, and ongoing pressure on the country’s foreign reserves as key drivers of exchange rate instability. While the CBN has implemented several measures to improve liquidity in the official forex market, results have been mixed.

“The growing spread between official and parallel market rates is symptomatic of deeper structural issues in Nigeria’s foreign exchange system,” said Dr. Amina Yusuf, an economist at Lagos State University. “Until we address the underlying supply constraints, the parallel market will continue to serve as the benchmark for many everyday transactions.”

Traders and consumers alike are monitoring domestic policy changes and global economic developments that could further impact exchange rates. For now, the Aboki market remains an indispensable—though unregulated—pillar of Nigeria’s multifaceted forex landscape.

For the most current updates on black market rates, platforms such as Aboki Forex and Nairatoday offer daily tracking, though slight variations can occur depending on the location and individual dealers.

Disclaimer: Black market rates are unofficial and may vary by region and trader. The CBN encourages the use of authorized financial institutions for foreign exchange transactions.