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, Euro to Naira black market, Pounds to Naira black market for April 9, 2024, 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) yesterday closed at N1235 per dollar according to data obtained from Bureau De Change (BDC) operators.Â
Dollar to Naira Black Market Rate Today.
How much is $1 in Nigeria black market today?
CBN exchange rate dollar to Naira today
The CBN exchange rate dollar to Naira today is:
The Dollar to Naira Bank rate today is also the same as the CBN official rate. The only difference is just one to two naira difference from one bank to another.
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.
The rates you buy or sell forex at Aboki exchange rate today in Lagos and other Aboki Forex rates may be different from what is captured in this article because prices vary.
Pounds to Naira Today
Pounds to NGN CBN Rate Today
- Buying Rate: N1,873
- Selling Rate: N1,877
Euro to Naira black market Today
Euro to Naira exchange rate Today
- Buying Rate: N1,612
- Selling Rate: N1,613
Meanwhile, at the Lagos Parallel Market, popularly referred to as the Black Market, the exchange rate between the US dollars and the Naira concluded at 1650 per dollar yesterday, as reported by sources in the Bureau De Change (BDC).
Nwabali Breaks Silence On Union Saint-Gilloise Transfer Rumours
Banks’ Recapitalisation Sparks Concerns: NLC and Bankers Worry
The Nigeria Labour Congress (NLC) and the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) have voiced apprehension over job security and other implications of the recent directive for banks’ recapitalization by the Central Bank of Nigeria (CBN).
Reports indicate that previous exercises in 2005 and 2010 resulted in the loss of 12,000 jobs, raising concerns about potential job losses in the current recapitalization initiative.
Under the new directive issued by Mr. Olayemi Cardoso, the CBN has mandated banks to meet new capital base requirements within two years. These requirements include N500 billion for international operations, N200 billion for national operations, and N50 billion for regional operations and merchant banking licenses.
Past recapitalization efforts led by Professor Charles Soludo and Lamido Sanusi in 2005 and 2010, respectively, reduced the number of commercial banks significantly. However, these initiatives also resulted in job losses, with reports indicating that over 5,000 direct employees and more than 7,000 indirect staff lost their jobs during those periods.
President of the NLC, Joe Ajaero, emphasized that while recapitalization may be necessary, the government’s economic policies, such as fuel price hikes and currency devaluation, often contribute to eroding banks’ capital base. This, in turn, leads to mergers, acquisitions, and job losses within the banking sector.
Similarly, President of ASSBIFI, Olusoji Oluwole, acknowledged the importance of recapitalization for enhancing the banking sector’s capacity and offerings. However, he expressed concerns about potential job losses resulting from mergers and acquisitions.
Both organizations have engaged with relevant stakeholders, including the CBN and the Ministry of Labour and Employment, to express their concerns and seek clarity on the implications of the recapitalization directive.
As the two-year compliance period unfolds, stakeholders anticipate further developments and remain vigilant about potential impacts on job security within the banking sector.
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