Black Market Dollar To Naira Exchange Rate On April 2, 2025

Black Market Dollar To Naira Exchange Rate On April 2, 2025

The current exchange rate for the Dollar to Naira in the black market, also known as the parallel market (Aboki FX), has been revealed. As of Tuesday, April 1, 2025, the exchange rate at the Lagos Parallel Market (Black Market) shows that Bureau De Change (BDC) operators are buying a dollar for ₦1,550 and selling at ₦1,560.

It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. Individuals who wish to exchange foreign currency are advised to use their respective banks, as directed by the CBN.

Exchange Rate Summary:

• Black Market (Aboki FX):

  • Buying Rate: ₦1,550

  • Selling Rate: ₦1,560

• CBN Official Rate:

  • Highest Rate: ₦1,542

  • Lowest Rate: ₦1,520

Please be aware that exchange rates may vary depending on the transaction location and time.

World Bank Loan Approval for Nigeria

In other news, the World Bank is preparing to approve $632 million in new loans to Nigeria to support vital sectors, including nutrition and education. The loans comprise $80 million for the Accelerating Nutrition Results in Nigeria 2.0 project and $552 million for the HOPE for Quality Basic Education for All programme. These initiatives aim to enhance healthcare, education, and community resilience.

The approval follows the recent $500 million loan granted to Nigeria last Friday, aimed at supporting the Community Action for Resilience and Economic Stimulus Programme. This programme, launched on March 28, 2025, focuses on assisting vulnerable households and small businesses impacted by the economic downturn.