Aboki Naira To Dollar Black Market Rate Today 9th February 2025

As of Sunday, February 9, 2025, the Nigerian Naira continues to fluctuate against the US Dollar in the parallel market, commonly referred to as the “Aboki” or black market.

Based on recent updates from various sources, including social media posts and reports from currency exchange platforms, the black market exchange rate for the US Dollar to Naira has been recorded at an average buying rate of ₦1,550 and a selling rate of ₦1,560 across major trading hubs in Nigeria, particularly in Lagos and Abuja.  

These rates reflect a slight appreciation of the Naira compared to earlier in the week, when the dollar was reportedly bought at ₦1,555 and sold at ₦1,565 in some areas, as shared in social media posts on February 7, 2025. However, the black market remains volatile, with rates subject to rapid change based on supply and demand dynamics.  

Social media platforms and exchange rate monitoring websites, such as Abokiforex.app, have reported a cautious but stable sentiment among traders. The marginal stability observed today could be attributed to recent efforts by the Central Bank of Nigeria (CBN) to improve liquidity in the official market. However, sustained pressure from government debt, inflation, and limited foreign exchange reserves continues to weigh on the Naira’s long-term outlook.  

Economic analysts note that the disparity between the official and black market rates underscores the complexities of Nigeria’s dual exchange rate system. As reported by the CBN, the official rate often lags behind the street-level reality, making the black market a critical space for many Nigerians who rely on it for foreign exchange.  

For those looking to exchange currency, experts recommend verifying the current black market rate before proceeding with any transaction, as rates can fluctuate rapidly. To avoid scams, it’s also advisable to use only trusted and verified dealers, request a written receipt for transparency, and avoid exchanging large amounts of currency at once to minimize risk.  

Analysts suggest that the Naira’s long-term stability will depend on efforts to boost foreign exchange reserves, enhance productivity, and attract foreign investment. Until then, the black market will likely remain a vital barometer of the currency’s street-level value.  

For the latest updates on Aboki Naira to Dollar black market rates, traders and consumers are encouraged to consult reliable platforms and stay informed about economic developments.  

Disclaimer: The Central Bank of Nigeria does not regulate the black market, and rates are subject to rapid change. This report is for informational purposes only and does not constitute financial advice.