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 May 6, 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, Abuja and Port Harcourt Parallel Market (Black Market) yesterday closed at an average N1,395 per dollar according to data obtained from Bureau De Change (BDC) operators.Â
CBN Sacks 50 More Staff, Sparking Anxiety Among Employees
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: N1,775
- Selling Rate: N1,780
Euro to Naira black market Today
Euro to Naira exchange rate Today
- Buying Rate: N1,465
- Selling Rate: N1,473
Lack of Crypto Regulation Fuels P2P Growth in Nigeria, Says SIBAN
The Stakeholders in Blockchain Technology Association of Nigeria (SIBAN) attributes the surge in peer-to-peer (P2P) crypto trading to the absence of regulation. This comes amid concerns that the government may soon ban P2P trading.
SIBAN President, Obinna Iwuno, emphasized that regulation would have led to more trading through regulated exchanges, reducing the need for P2P. He expressed concerns that crypto trading may be criminalized if the government doesn’t understand the industry.
The Need for Regulation
Iwuno stressed that regulation is crucial to clear the industry’s name and prevent allegations of currency manipulation. He believes that a regulated sector would benefit the industry more than an unregulated one.
Changing the Narrative
SIBAN urges stakeholders to come together to change the narrative that the crypto industry is sabotaging the economy. Iwuno emphasized the need for a regulated space to achieve economic development and wealth creation using blockchain technology.
The Back Story
Recently, Nigeria’s National Security Adviser classified cryptocurrency trading as a national security issue, leading to a crackdown on crypto transactions by fintech startups and banks.
