What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
See the black market Dollar to Naira exchange rate for 23rd February, 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 ₦1520 and sell at ₦1530 on Sunday 23rd February, 2025, 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 | ₦1520 |
| Selling Rate | ₦1530 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | ₦1509 |
| Lowest Rate | ₦1491 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The Central Bank of Nigeria (CBN) has justified its decision to increase charges on cash withdrawals from ATMs of other banks, stating that the move aims to incentivize banks to improve access to cash at their ATMs.
Naija News reports that at the end of its Monetary Policy Committee (MPC) meeting on Tuesday, the apex bank also announced that it would retain the Monetary Policy Rate (MPR) at 27.5%, maintaining key economic parameters.
CBN Governor, Olayemi Cardoso, while addressing journalists after the meeting, stated defended the increase in ATM withdrawal charges, which now stands at N100 per N20,000 withdrawn from another bank’s ATM.
He explained that the policy aims to encourage banks to improve cash availability at ATMs and expand their ATM network.
“The banks need to be incentivized to ensure regular access to cash at their ATMs, so that people can withdraw money without issues. While the situation has improved, it still needs to work perfectly and seamlessly,” he said.
Cardoso dismissed concerns that the new fee would deter customers from accessing cash, instead arguing that it would enhance financial efficiency and shut down exploitative cash withdrawal services.
