Aboki Naira To Dollar Black Market Rate Today 22nd January 2025

As of today, January 22, 2025, the Nigerian Naira has shown slight fluctuations in the black market, commonly referred to as the ‘Aboki’ market, against the US Dollar.

According to various sources across major Nigerian cities like Lagos and Abuja, the buying rate for one US Dollar stands at approximately N1,665, while the selling rate is slightly higher at N1,675. This minor adjustment from previous days reflects the ongoing volatility in Nigeria’s parallel forex market, driven by supply and demand dynamics outside official banking channels.

The black market rates continue to diverge from the official rates set by the Central Bank of Nigeria (CBN), highlighting the challenges in managing currency valuation in an economy with a significant informal trading sector. Despite efforts by the CBN to stabilize the Naira through forex policies and interventions, the gap between official and black market rates remains wide, influenced by factors such as government debt, oil production levels, and international economic trends.

For those engaging in currency exchange, it’s advisable to consult multiple sources for the most accurate rates, as rates can vary across different locations and dealers. The black market remains a crucial barometer for the real-time valuation of the Naira due to its sensitivity to both local and global economic factors.

Disclaimer: The rates mentioned are based on reports from Bureau De Change operators and should be considered for informational purposes only. The CBN does not recognize the parallel market and advises individuals interested in foreign exchange to contact their banks for official transactions.