Aboki Naira to Dollar Black Market Rate Today, 27th April 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) remains a critical indicator for traders, businesses, and individuals navigating Nigeria’s volatile foreign exchange landscape.
As of today, Sunday, April 27, 2025, the latest data from parallel market sources, including Aboki Forex and local currency dealers in Lagos and Abuja, reveal the following rates:
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- Buying Rate: ₦1,710.00 per USD
- Selling Rate: ₦1,720.00 per USD
These figures reflect a slight appreciation of the Naira compared to earlier rates reported on April 6, 2025, when the buying rate stood at ₦1,715.00 and the selling rate at ₦1,725.00.
However, the black market continues to trade significantly above the official Central Bank of Nigeria (CBN) rate, highlighting ongoing pressures on Nigeria’s foreign reserves and persistent dollar scarcity.
The parallel market, often referred to as the “Aboki” market, operates outside the CBN’s regulated framework, leading to variations in rates across different regions and even within markets like Abuja’s Zone 4 or Lagos. According to Aboki Forex, black market rates are not uniform due to the unregulated nature of the market, and slight disparities may occur depending on the trader or location.
In recent weeks, fluctuations in Naira’s value have been driven by global economic uncertainties and domestic challenges. The CBN’s efforts to stabilize the Naira through interventions, such as a reported $280 million injection into the forex market on April 21, 2025, have yielded mixed results. Despite these measures, the gap between official and black market rates remains wide, reflecting sustained demand for dollars amid limited supply.
The Naira’s performance against the dollar has been a rollercoaster since the 1980s, with significant depreciation over the decades. Historical data from Wise indicates that the USD/NGN exchange rate hit a low of ₦1,490.00 on February 26, 2025, but has since climbed, with the official rate hovering around ₦1,604.08 as of April 25, 2025. The black market, however, consistently commands a premium driven by importers, travellers, and others seeking quick access to foreign currency.
Analysts attribute the Naira’s struggles to Nigeria’s reliance on oil exports, bureaucratic hurdles deterring foreign investment, and a productivity deficit tied to import dependency. Some market observers warn that without structural reforms, the Naira could face further pressure, potentially nearing ₦2,000 per USD in the near future.
Disclaimer: Black market rates are unofficial and subject to rapid changes. Always consult trusted providers before making financial decisions.
