Aboki Naira to Dollar Black Market Rate Today, 21st April 2025

The Nigerian Naira continues to face significant fluctuations against the US Dollar in the parallel market, popularly known as the “Aboki” black market.

As of today, currency traders in major hubs such as Lagos’ Zone 4 market and Abuja report the exchange rate at approximately ₦1,615 for buying and ₦1,625 for selling per US Dollar, reflecting a slight depreciation compared to last week’s rates.

According to local dealers, the marginal decline in the Naira’s value is driven by persistent demand for dollars amid limited foreign exchange supply in the informal market. “The dollar remains strong, and people are still rushing to buy for business and travel,” said Chinedu Okeke, a currency exchanger in Lagos. “The market is unpredictable, but this is the trend for now.”

The black market rate diverges notably from the official Central Bank of Nigeria (CBN) rate, which hovers around ₦1,604 per USD, underscoring the challenges many Nigerians face in accessing foreign currency through regulated channels. Economic analysts attribute the Naira’s volatility to Nigeria’s heavy reliance on oil exports, fluctuating global oil prices, and ongoing pressures on foreign exchange reserves.

Recent CBN efforts to stabilize the currency through policy interventions have yielded mixed results, with the parallel market remaining a critical lifeline for businesses, travelers, and individuals unable to secure dollars via official means. “The gap between the official and black market rates shows the real struggle for forex liquidity,” noted Aisha Mohammed, a financial analyst in Abuja. “People rely on Aboki dealers because banks often can’t meet their needs.”

Social media posts this morning align with these observations, with users reporting rates around ₦1,620 per USD in some locations, though slight variations exist depending on the dealer and region. Nigerians are urged to exercise caution when engaging in black market transactions due to their unregulated nature and to monitor trusted platforms like Aboki Forex and Nairatoday for real-time updates.

As the Naira navigates these turbulent waters, businesses and individuals are encouraged to stay informed and strategize their transactions to mitigate the impact of exchange rate fluctuations. The trajectory of the Aboki market remains a key indicator of Nigeria’s broader economic challenges, with all eyes on potential CBN actions or global market shifts that could influence rates in the coming days.

For the latest updates, consult local dealers or visit trusted forex platforms.