Aboki Naira to Dollar Black Market Rate Today, 22nd April 2025

On Tuesday, April 22, 2025, the Nigerian Naira experienced slight fluctuations against the US Dollar in the parallel market, popularly known as the “Aboki” black market.

According to currency traders in key hubs like Lagos’ Zone 4 market and Abuja’s Wuse Zone 4 plaza, the Naira traded at an average buying rate of ₦1,550 and a selling rate of ₦1,565 per dollar by midday. These rates reflect a marginal increase from Monday’s figures, which hovered around ₦1,545 to ₦1,560, signaling ongoing volatility in Nigeria’s informal foreign exchange market.

The black market remains a critical avenue for individuals and businesses seeking dollars outside the Central Bank of Nigeria’s (CBN) regulated channels, driven by persistent foreign currency shortages and demand pressures.

Economic analysts attribute today’s minor rate shifts to speculative trading and a seasonal uptick in dollar demand as businesses prepare for second-quarter activities. “The Naira’s value in the parallel market is highly sensitive to supply dynamics and trader sentiment,” said Chidi Okoye, a Lagos-based forex analyst. “We’re seeing slight pressure today, but nothing drastic.”

Data from platforms like Aboki Forex and NgnRates.com indicate that black market rates for other major currencies also showed stability with slight variations. The British Pound (GBP) traded at approximately ₦1,920 (buying) and ₦1,935 (selling), while the Euro (EUR) was quoted at ₦1,670 (buying) and ₦1,685 (selling). Traders noted that rates can vary slightly across different markets due to the unregulated nature of the parallel market, advising individuals to compare rates from multiple dealers for the best value.

The CBN has continued its efforts to stabilize the Naira through interventions, including a reported $280 million injection into the forex market last week, which bolstered the Naira’s value temporarily. However, the gap between the official rate (approximately ₦1,605 per dollar, according to Wise’s currency converter) and the black market rate persists, highlighting structural challenges in Nigeria’s forex ecosystem.

Economic experts warn that without addressing underlying issues like inflation, import dependency, and foreign reserve depletion, the Naira may face further pressure, with some projecting a potential slide toward ₦2,000 per dollar in the near future if current trends continue.

For now, Nigerians and businesses reliant on the Aboki market are urged to stay vigilant, monitor real-time rates through trusted platforms like Aboki Forex, Nairatoday, or Investors King, and verify rates with local dealers before transactions.

As global economic uncertainties and domestic inflationary pressures loom, all eyes remain on the CBN’s next moves, which could sway the Naira’s trajectory in the coming weeks.

Note: Black market exchange rates are unofficial and subject to rapid changes. Always consult reliable sources and local dealers for the most accurate and up-to-date rates before engaging in currency exchange.