Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 16th July 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 July, 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 N1560 and sell at N1565 on Monday 15th July 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.

Address Structural Bottlenecks To Boost Economy – Moghalu To Tinubu

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has called on President Bola Tinubu-led federal government to address structural bottlenecks affecting the country’s economic growth.

Professor Moghalu said the growth in Nigeria’s financial sector, was not reflected in the country’s economy.

Moghalu said the federal government must encourage private sector credit to help drive the economy to production.

He said structural infrastructures, including electricity, inflation and monetary policy, must be addressed to ensure a boost in the country’s economy.

“It is remarkable that despite the growth of Nigeria’s financial sector, the ratio of credit to GDP is only 14%. Private sector credit helps boost capital formation, production, and consumption. Figuring out how to overcome this bottleneck is the task of economic management.

“It requires dealing with structural bottlenecks such as infrastructure (chiefly electricity), inflation and monetary policy (higher profits from investing in government securities), and others. Security is a major structural challenge. Its absence across the country destroys the business environment and SME access to credit. Inclusive economic growth is impossible in this scenario,” Moghalu said on X, on Monday.