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 5th May, 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 N734 and sell at N738 on Friday 5th May 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 | N734 |
| Selling Rate | N738 |
About 7,552 Bank Verification Number (BVN) accounts have been placed under the Central Bank of Nigeria’s (CBN) watch list for cyber-crime and fraud-related transactions.
The apex bank said it is closely monitoring those related accounts before further actions can be taken, Naija News gathered.
This revelation was made on Tuesday by the CBN Director of Payment Systems Management department, Musa Jimoh, at the 34th seminar for finance correspondents and business editors themed; “Implementing a Robust Payment Architecture: Prospects, Opportunities and Challenges” which was held in Calabar.
The revelation was against the heels of how suspected fraudsters use accounts for fraud related issues in the dispensation of the cashless policy.
Jimoh, explained that even though the issue of cyber threats has affected the confidence of the public, the payment system in Nigeria is very good and provides huge opportunities for economic revival and growth.
He, however, noted that the CBN is in collaborative efforts with major stakeholders in the industry to curb the activities of fraudulent people.
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