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 4th 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 N1380 and sell at N1420 on Saturday 4th 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 | N1380 |
| Selling Rate | N1420 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1441 |
| Selling Rate | N1442 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
NDIC Hikes Deposit Insurance Coverage For Banks, Mobile Money Operators
The Nigeria Deposit Insurance Corporation (NDIC) has increased deposit insurance coverage for all licensed deposit-taking financial institutions.
Speaking at a press briefing in Abuja on Thursday, the NDIC Managing Director/Chief Executive, Bello Hassan, said the coverage ensures that depositors will be reimbursed up to a certain limit for their deposits in the event of a bank failure.
He said the increment applies to Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), Payment Service Banks (PSBs) and Mobile Money Operators (MMOs).
The NDIC boss said by increasing deposit insurance coverage, the corporation is ensuring that the move will strengthen the banking system and encourage further financial inclusion within the country.
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