Aboki Naira to Dollar Black Market Rate Today, 2nd April 2025
On Tuesday, April 2, 2025, the Nigerian Naira experienced minor shifts in value against the US Dollar in the black market, commonly referred to as the “Aboki” exchange market.
Currency traders across major hubs like Lagos and Abuja reported varying rates throughout the day, reflecting the ongoing volatility in Nigeria’s parallel forex market.
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According to data gathered from street traders and online platforms tracking black market rates, the Naira traded at an average of ₦1,535 to $1 by midday. Early morning rates hovered around ₦1,538.988 per dollar, as reported by some sources, before dipping slightly to ₦1,532.233 by late afternoon. This fluctuation marks a marginal change from the previous day’s average of ₦1,540, signaling a subtle appreciation of the Naira amid mixed economic signals.
In Lagos’ bustling Zone 4 market, Aboki traders quoted buying rates as low as ₦1,530 and selling rates around ₦1,550 for the dollar, with slight regional variations noted in Abuja and Kano. “The market is calm today, but demand for dollars remains steady,” said Musa Ibrahim, a currency dealer in Lagos. “People are watching the Central Bank’s next move.”
The black market rate continues to diverge significantly from the official Central Bank of Nigeria (CBN) rate, which has been a point of contention for analysts and traders alike. While the CBN has intensified efforts to stabilize the Naira through policy interventions, the parallel market remains a critical avenue for individuals and businesses seeking foreign exchange outside regulated channels.
Economic experts attribute the day’s minor movements to speculative trading and seasonal factors, with some pointing to a slowdown in dollar demand as the first quarter of 2025 winds down. However, concerns linger over Nigeria’s broader economic outlook, with inflation and foreign reserve levels continuing to influence currency dynamics.
As of April 2, 2025, the black market rates for other major currencies included approximately ₦1,904 per British Pound (GBP) and ₦1,651 per Euro (EUR), showing similar stability with slight variations throughout the day.
Traders and Nigerians alike are closely monitoring upcoming economic data releases and potential CBN announcements, which could further sway the Aboki market in the days ahead. The Naira’s performance in the black market remains a key indicator of public sentiment toward the nation’s currency amid ongoing economic challenges.
