Aboki Naira to Dollar Black Market Rate Today, 8th April 2025
The Nigerian Naira experienced a marginal decline against the US Dollar in the parallel market, commonly known as the “Aboki” black market, on Tuesday, April 8, 2025.
According to currency traders in Lagos’ bustling Zone 4 market and reports from local exchange platforms, the Naira traded at an average buying rate of ₦1,565 and a selling rate of ₦1,580 per dollar by mid-morning. This reflects a slight depreciation from Monday’s rates, which hovered around ₦1,560 for buying and ₦1,575 for selling, signaling ongoing volatility in Nigeria’s informal forex market.
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Street traders, often referred to as “Aboki” dealers, noted a steady demand for dollars amid economic uncertainties, with some attributing the Naira’s dip to speculative trading and limited foreign exchange supply in the parallel market. “The dollar is still strong today, but the market is calm for now,” said Ahmed Yusuf, a currency exchanger in Lagos. “People are watching to see if the Central Bank will step in again.”
The black market rate continues to diverge significantly from the official Central Bank of Nigeria (CBN) rate, which typically offers a lower exchange value. This gap underscores the challenges many Nigerians face in accessing foreign currency through regulated channels, driving reliance on the Aboki market for transactions ranging from international trade to personal remittances.
Economic analysts point to broader factors influencing the Naira’s performance, including Nigeria’s dependence on oil exports, fluctuating global oil prices, and pressures on foreign exchange reserves. Recent CBN interventions to boost liquidity have had mixed results, with the parallel market remaining a key indicator of the currency’s real-time street value.
As of April 8, 2025, traders and citizens alike are keeping a close watch on potential policy announcements or shifts in global economic conditions that could sway the Aboki rates in the coming days. For now, the black market remains a critical lifeline and a reflection of Nigeria’s complex forex dynamics.
