Dollar to Naira
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 7th May 2024
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for 6th May, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1420 and sell at N1435 on Monday 6th May 2024, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1420 |
| Selling Rate | N1435 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1382 |
| Selling Rate | N1383 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
In light of a pivotal meeting scheduled for Monday between the Securities and Exchange Commission and digital asset operators, the Federal Government may consider suspending the $56.7 billion peer-to-peer cryptocurrency market.
According to Chainalysis’ 2023 Geography of Cryptocurrency Report, Nigeria saw a nine percent year-over-year growth in crypto transactions, totalling $56.7 billion between July 2022 and June 2023, as the United States-based blockchain analysis firm reported.
The SEC’s latest step suggests a wider push from the Federal Government to strengthen regulatory supervision in the cryptocurrency sector, responding to escalating concerns regarding illicit activities and the manipulation of the naira exchange rate.
Naija News recalls that earlier this week, the Central Bank of Nigeria barred major fintech firms from accepting new customers as part of an ongoing assessment of their Know-Your-Customer process.
In response to the regulatory action, major fintech companies such as Opay and PalmPay sent emails to their customers on Friday cautioning them against trading in cryptocurrency or any virtual currency on their platforms and warned of potential account suspension for those found participating in such activities.
