Aboki Naira to Dollar Black Market Rate Today, 31st March 2025

As of March 31, 2025, the Nigerian Naira has experienced slight fluctuations against the US Dollar in the black market, commonly referred to as the “Aboki” exchange market.

Currency traders in Lagos and Abuja reported that the buying rate for one US Dollar stood at approximately ₦1,540, while the selling rate hovered around ₦1,555, marking a modest shift from previous days.

This latest adjustment in the parallel market comes amid ongoing economic challenges in Nigeria, including foreign exchange shortages and fluctuating oil revenues, which continue to impact the Naira’s performance outside official channels.

The black market rate remains significantly higher than the Central Bank of Nigeria’s (CBN) official rate, highlighting the persistent gap between regulated and unregulated forex markets. The CBN has yet to release its daily official exchange rate, though analysts expect it to lag behind the parallel market, as has been the trend.

Local currency dealers suggest cautious stability in the Aboki market, with some attributing the minor fluctuations to increased dollar demand ahead of the new month. “The rate has been steady this week, but we’re seeing slight pressure as people prepare for April transactions,” noted a trader at Lagos’ Zone 4 market. Despite the CBN’s efforts to improve forex liquidity through policy interventions, many Nigerians rely on the black market for immediate access to foreign currency.

Economic analysts observe that the Naira’s parallel market value often serves as a real-time indicator of market sentiment and broader economic trends, responding more swiftly than official channels to global and domestic developments. With no major policy announcements expected today, the Aboki Naira-to-Dollar rate is likely to remain a key focus for businesses and individuals navigating Nigeria’s complex forex landscape.