This is a compound word for a homeless black individual. Nigger + Hobo = Nigbo! They can often be found aimlessly wandering the downtown area with some kind of alcohol in hand. They originated in the legend Zelda game Ocarina of Time in the market after you become an adult as the undead that like to jump on your back, suck your blood, and ask you for spare change.
Oh no, roll up the windows before that Nigbo comes up to the car and asks us for our change.