Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 9th August 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 8th August, 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 N1605 and sell at N1615 on Thursday 8th August 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.

The Central Bank of Nigeria (CBN) has granted the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited.

Naija News reports that the apex bank made this known in a statement on Tuesday through its acting Director of Corporate Communications, Hakama Sidi-Ali.

Sidi-Ali said the move is designed to bolster the stability of the nation’s financial system and avert potential systemic risks.

The CBN said it remains committed to safeguarding depositors’ interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.

The statement read partly, “The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders.

“It is unequivocal to state that the CBN’s action is under the provisions of Section 42 (2) of the CBN Act, 2007. This arrangement is crucial for the financial health and operational stability of the post-merger organisation.

“It is important to emphasise that no Nigerian bank currently faces a precarious situation comparable to that of Heritage Bank, which was recently liquidated.”