Naira Wobbles As Black Market Dollar Rate Soars On September 28, 2025

According to Ireporter Online, the exchange rate between the United States Dollar and the Nigerian Naira in the parallel market, popularly known as the black market or Aboki FX, remained under pressure on Saturday, September 27, 2025.

Checks from Bureau De Change (BDC) operators in Lagos showed that dollars were sold at ₦1,505 and bought at ₦1,485. This reflects the prevailing demand-and-supply situation in the informal forex market.

Meanwhile, official figures from the Central Bank of Nigeria (CBN) indicated that the dollar traded at a high of ₦1,487 and a low of ₦1,471 within the official window. The apex bank has consistently reiterated that it does not recognize parallel market transactions and has urged individuals and businesses seeking foreign exchange to use official banking channels.

Analysts caution that rates may differ across locations and trading hours, as forex prices fluctuate daily in response to market conditions.