Aboki Naira to Dollar Black Market Rate Today, 23rd March 2025

As of this morning, Sunday, March 23, 2025, the Nigerian Naira (NGN) continues to fluctuate against the US Dollar (USD) in the black market, commonly referred to as the parallel market or Aboki FX. Currency traders in Lagos and Abuja report ongoing shifts in exchange rates, reflecting the dynamic nature of Nigeria’s informal forex sector.

According to sources among Bureau De Change (BDC) operators, today’s black market exchange rate for the US Dollar stands at approximately ₦1,562.50 for buying and ₦1,572.50 for selling, bringing the average Aboki rate to around ₦1,567.50 per dollar. This marks a slight variation from last week’s rates, driven by the delicate balance between dollar supply and demand amid Nigeria’s broader economic challenges.

In Lagos’ bustling parallel market, a trader at Wuse Zone 4 remarked, “The dollar rate has been hovering around this range since Friday. Demand remains steady, but supply is still tight, keeping the Naira under pressure.” Similar trends have been observed in Abuja, where some dealers quote marginally higher rates due to regional demand and logistical costs.

The Central Bank of Nigeria (CBN) does not officially recognise black market transactions and continues to promote the use of formal banking channels for forex dealings. However, with persistent forex scarcity and restrictions on official dollar allocations, the parallel market remains a crucial alternative for many Nigerians, including small businesses, importers, and individuals facing difficulties accessing dollars through banks.

Economic analysts view the Naira’s performance in the black market as an informal barometer of public confidence in Nigeria’s monetary policies. “The relatively narrow spread between buying and selling rates today suggests cautious trading,” noted Amina Yusuf, a currency analyst based in Lagos. “But with inflation still high and uncertainty around oil revenues, the Naira’s stability could face further tests in the coming weeks.”

As Nigeria continues to navigate economic challenges in 2025, the Aboki rate remains a key indicator for millions who rely on the parallel market. For the latest updates, Nigerians are advised to monitor trusted sources and exercise caution when engaging with currency dealers, given the risks of scams in the informal forex sector.

The black market rates provided are unofficial and subject to change throughout the day. The CBN advises using official banking channels for forex transactions.