Dollar To Naira Black Market Rate Soars Again On September 25, 2025

According to Ireporter Online, the dollar-to-naira exchange rate in the parallel market, popularly referred to as the black market or Aboki FX, has continued to fluctuate, drawing significant attention from traders and the public. On Wednesday, September 24, 2025, dealers in Lagos confirmed that the U.S. dollar was purchased at ₦1,520 and sold at ₦1,515, based on rates obtained from Bureau De Change (BDC) operators.

Market analysts note that while the black market remains a dominant source of foreign exchange for many Nigerians, the Central Bank of Nigeria (CBN) does not recognize transactions within the parallel market. The apex bank has consistently advised individuals and businesses seeking forex to approach their respective banks through official channels.

Meanwhile, the CBN’s official exchange rate on the same date showed the dollar trading at a high of ₦1,495 and a low of ₦1,482, creating a noticeable gap between the regulated and parallel market figures. Experts warn that such disparities contribute to economic instability, especially for import-dependent businesses and individuals.

It is important to note that exchange rates often vary from one dealer to another, depending on market dynamics and location.