Aboki Dollar to Naira Exchange Rate Today – 5th April 2025

The Aboki Dollar to naira exchange rate , also known as Black market exchange rate for 5th April 2025 has emerged.

The latest black market exchange rate for the United States Dollar (USD) to the Nigerian Naira (NGN) as of Saturday, April 5, 2025, has surfaced from reliable Bureau De Change (BDC) sources across Nigeria. This rate represents the unofficial exchange rate, commonly called the parallel market rate or Aboki FX rate.

This article provides a comprehensive update on the current black market exchange rate in major cities such as Lagos, Abuja, Kano, and other parts of the country.

Current Dollar to Naira Black Market Rate – 5th April 2025

According to currency dealers at the Zone 4 market in Abuja, the current dollar to naira exchange rate in the black market is as follows:

• Buying Rate: ₦1,550 per $1

• Selling Rate: ₦1,562 per $1

These figures represent the rates at which dealers purchase dollars from sellers and resell them to buyers, respectively. It’s important to note that black market rates may vary slightly depending on the dealer and location, especially between states and regions.

Dollar to Naira Exchange Rate Trends Over the Last 7 Days

The table below shows the trend in the USD/NGN exchange rate in the black market over the past week. Monitoring this trend provides insight into how the naira is performing and whether the currency is stabilizing or continuing to depreciate.

From the table above, it’s clear that the naira has been hovering within a narrow band, showing signs of slight volatility rather than sharp movements.

Pound to Naira and Euro to Naira Rates – 5th April 2025

In addition to the dollar, many Nigerians also monitor the rates of other major currencies such as the British Pound Sterling (GBP) and the Euro (EUR) in the black market. Below are the current exchange rates for both currencies.

Pound to Naira Exchange Rate

• Buying Rate: ₦1,980

• Selling Rate: ₦2,010

Euro to Naira Exchange Rate

• Buying Rate: ₦1,640

• Selling Rate: ₦1,670

As with the dollar, these rates vary slightly across different parallel market locations.

Dollar to Naira Conversion Table at ₦1,562 per Dollar

This conversion table helps readers quickly calculate the naira equivalent of different dollar amounts using today’s black market selling rate of ₦1,562 per dollar.

This table is useful for businesses, travelers, importers, and others who deal in foreign exchange and want a quick reference for budget planning or forex transactions.

Why the Dollar to Naira Rate Matters to Nigerians

The black market rate continues to have a significant impact on the Nigerian economy for several reasons:

1. Limited Access to Official FX: Many individuals and businesses cannot access foreign exchange through official Central Bank channels and rely on the parallel market.

2. Inflation and Import Costs: A weakening naira leads to higher prices for imported goods, which worsens inflation.

3. Impact on SMEs: Small and medium enterprises (SMEs) that depend on importing goods are forced to spend more on procurement, thereby reducing profit margins.

4. Educational and Medical Costs Abroad: Students studying overseas and patients seeking foreign medical care are affected by higher forex rates.

Factors Influencing the Black Market Exchange Rate

Several internal and external factors influence the movement of the naira in the black market:

• Dollar scarcity in the official window

• Low oil revenue, which limits the government’s foreign reserve accumulation

• High demand for foreign exchange by importers and individuals

• Capital flight and reduced foreign direct investment (FDI)

• Speculative activities by currency hoarders and traders

These combined pressures result in fluctuations in the parallel market exchange rate.

CBN’s Position vs. Black Market

While the Central Bank of Nigeria (CBN) insists that the only valid exchange rate is the official rate published on its website and via official banks, many Nigerians continue to rely on the black market due to its accessibility and fewer bureaucratic restrictions.

The CBN has also been actively engaging in policy interventions to stabilize the naira. However, the effect of these measures remains limited without a substantial increase in foreign inflows and exports.

Conclusion

As of April 5, 2025, the black market rate for dollar to naira stands at ₦1,550 for buying and ₦1,562 for selling. With continued volatility in the forex market, Nigerians are advised to keep a close watch on daily exchange rate trends, especially those engaging in international trade, education, or remittances.

The performance of the naira remains a critical issue in Nigeria’s broader economic stability. Only a mix of policy reforms, increased non-oil exports, and reduced dependency on imports can contribute to a more stable and stronger local currency.

Disclaimer: The rates published here are sourced from parallel market traders and are provided for informational purposes only. They are not associated with any official financial institution. Always confirm current rates before carrying out any forex transactions