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 18th 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 N1520 and sell at N1526 on Sunday 18th February 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 | N1520 |
| Selling Rate | N1526 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1492 |
| Selling Rate | 1493 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Nigeria’s Economic Crisis Deep, Beyond Exchange Rate – Moghalu
A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu argues that Nigeria’s economic crisis is beyond the exchange rate crisis currently being combated by the President Bola Tinubu led government.
Making this suggestion in a post on his official X account, Moghalu who cleared that he was not making a cacophony of postulation argued that the exchange rate crisis was simply a symptom of the country’s ailment and not the ailment itself.
Naija News reports that his comment comes as President Tinubu intensify efforts to revive the country’s plummeting currency as the economy continues to deteriorate less than a year into his administration.
However, suggesting that the the country’s economic challenge was way beyond the forex crisis, Moghalu wrote, “President @officialABAT has asked Nigerians to avoid “a cacophony of postulations” about our exchange rate crisis and allow @cenbank do its job. “Not everyone can be an expert” the President said. Well, I am an expert, but let me refrain from a cacophony of postulations here.
“I continue to wish our central bank success in a challenging task, but let me just “postulate” briefly that Nigeria’s economic crisis is deep, and goes well beyond the exchange rate which is simply a symptom of maladies and not the malady itself.”
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