Aboki Naira to Dollar Black Market Rate Today, 28th April 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) remains a critical focus for traders, businesses, and individuals navigating Nigeria’s volatile foreign exchange landscape.
According to data sourced from reliable parallel market platforms, the Dollar to Naira black market exchange rate today, Monday, April 28, 2025, is as follows:
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- Buying Rate: ₦1,595.00 per USD
- Selling Rate: ₦1,601.80 per USD
These rates reflect a slight fluctuation compared to recent weeks, with the Naira showing marginal stability against the Dollar in the parallel market.
The black market, often referred to as the “Aboki” or parallel market, continues to play a significant role in Nigeria’s economy due to persistent foreign currency shortages and restrictions in the official market. The Central Bank of Nigeria (CBN) has implemented measures to stabilize the Naira, including periodic interventions and policy reforms, but the gap between official and black market rates remains pronounced.
While not explicitly quoted today, the official CBN rate is typically lower than the parallel market, contributing to the reliance on informal channels.
Market analysts attribute today’s rates to ongoing pressures on Nigeria’s foreign reserves and global economic uncertainties impacting Dollar availability.
“The Naira’s performance in the black market is a reflection of supply-demand dynamics. Until we see consistent Dollar inflows, these fluctuations will persist,” said Chinedu Okoye, a Lagos-based currency trader.
Traders in Abuja’s Wuse Zone 4 and Lagos’ Alaba Market reported slight variations in rates, with some quoting as high as ₦1,610.00 for selling, underscoring the unregulated nature of the market. Platforms like Aboki Forex and Investors King continue to provide real-time updates, advising caution when exchanging large sums due to potential rate disparities across regions.
As the Nigerian economy grapples with inflationary pressures and rising commodity prices, the black market exchange rate remains a barometer of economic sentiment. Citizens are urged to stay informed through trusted sources and exercise diligence when engaging with currency exchangers.
Disclaimer: Black market rates are subject to change and may vary by location. Always verify rates with trusted local exchangers before transactions.
