What is the Dollar to Naira Exchange Rate at the Black Market (Aboki FX)?

The exchange rate between the Dollar and the Naira remains one of the most closely watched economic indicators in Nigeria. While the official rates are set by the Central Bank of Nigeria (CBN), many Nigerians rely on the parallel market, also known as the black market or Aboki fx, to meet their foreign exchange needs.

As of Friday, October 3, 2025, below are the latest rates in major cities like Benin, Portharcourt, Abuja and Lagos black market.

Dollar to Naira Black Market Rate Today

According to sources at the Bureau De Change (BDC):

Buying Rate: ₦1,470 per $1
Selling Rate: ₦1,490 per $1

This means that if you are selling dollars, you’ll receive ₦1,470 per $1, while those buying dollars will pay ₦1,490 per $1.

Dollar to Naira CBN Rate Today

It is important to note that the Central Bank of Nigeria (CBN) does not recognize or regulate the black market. The CBN advises individuals to transact through official banking channels.

Below are today’s official CBN rates:

Highest Rate: ₦1,468 per $1
Lowest Rate: ₦1,445 per $1

Why the Difference Between CBN and Black Market Rates?

The gap between official CBN rates and black market (parallel market) rates is influenced by several factors:

High demand for USD from businesses, importers, and travelers.
Limited forex supply in the official market.
Speculation and inflation, which drive people to hold dollars as a store of value.
Government policy changes that restrict forex availability.

Disclaimer: The rates above are sourced from black market traders in Lagos and major cities in Nigeria. Rates may differ depending on location, transaction volume, and market conditions. Always confirm before making transactions.