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 14th April, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N735 and sell at N745 on Friday 14th April 2023, 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N735 |
| Selling Rate | N745 |
A development economist has urged the Central Bank of Nigeria (CBN) to be more people-oriented by giving room for low-interest rates.
In a world press conference during the week, the development economist, Basil Odilim noted that the restructuring of the CBN to give room for low-interest rates would make the apex bank to be pro-people and pro-economy.
Over the years, economists have insisted that small businesses would grow faster in Nigeria if both active business practitioners and potential entrepreneurs have access to loans that come with low interest.
In line with this argument, Basil Odilim believes that if the CBN can flood the market with naira, small business owners can borrow the currency at an affordable rate, thereby creating more jobs.
He said, “The issue now is that we have to redesign the Central Bank of Nigeria. We have to make the Central Bank of Nigeria pro-people and pro-economy, a system that is expansionary, meaning that we make interest rates very low and flood the economy with naira so that small businesses can borrow naira at a very very affordable rate. That way, they can go into their businesses and create jobs, grow the economy, and pay taxes.”
He added, “Any economy that is migrating from agricultural activity to industrial must flood the system with cheap money without minding the inflationary rate implications. Because it is when you make money available to those who need the money, and invest the money, that the money becomes an investment.
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