Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 16th December 2024

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 15th December, 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 N1660 and sell at N1670 on Sunday 15th December 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 CBN Rate Today

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

CBN Slams ₦150 Million Fine On Banks Supplying New Naira Notes To Hawkers

The Central Bank of Nigeria (CBN) has introduced a stringent penalty of ₦150 million on Deposit Money Banks (DMBs) found guilty of supplying mint naira notes to currency hawkers.

Naija News reports that this move is part of the apex bank’s efforts to curb the illegal trade and ensure the effective distribution of cash to the public.

The announcement follows the CBN’s clarification regarding the continued use of old ₦1000, ₦500, and ₦200 notes as legal tender.

A statement from Acting Director of Corporate Communications, Sidi Ali Hakama, reaffirmed that these denominations remain valid following a Supreme Court ruling on November 29, 2023.

The CBN also cautioned against the hoarding of cash.

In a circular signed by Acting Director of Currency Operations, Mohammed Olayemi, the CBN expressed concern over the rising prevalence of mint naira notes being sold by hawkers.

The bank described the act as a serious obstacle to efficient cash flow and access for citizens and businesses.