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 1st August, 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 N1605 and sell at N1615 on Thursday 1st August 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 | N1605 |
| Selling Rate | N1615 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1610 |
| Selling Rate | N1611 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Tinubu Engages Banking Sector In Talks Over Controversial Windfall Tax
President Bola Ahmed Tinubu convened a closed-door meeting with leaders of Nigeria’s commercial banking sector at the State House in Abuja to discuss the newly imposed windfall tax.
The session, led by Finance Minister Wale Edun, included prominent figures such as Tony Elumelu, Chairman of United Bank for Africa, and Ladi Balogun, Group CEO of First City Monument Bank.
The windfall tax, introduced by President Tinubu in mid-July as part of an amendment to the 2023 Finance Act, targets significant foreign exchange gains reported by banks in 2023.
The tax is intended to generate revenue for key infrastructure, education, and healthcare projects under the Renewed Hope Agenda.
Despite concerns from Moody’s Investors Service and other analysts about the tax’s potential to reduce bank profits and threaten financial stability, the Senate recently passed the amendment.
The bill increased the windfall levy from 50% to 70% and extended its applicability to all profits from foreign exchange transactions through 2025.
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