See the black market Dollar to Naira exchange rate for 28th November, 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 N1155 and sell at N1160 on Tuesday 28th November 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 | N1155 |
| Selling Rate | N1160 |
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 820 |
| Selling Rate | 821 |
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank will increase the capital base of commercial banks in the country.
Cardoso made this known on Friday at the 58th Annual Bankers’ Dinner and grand finale of the 60th anniversary of the Chartered Institute of Bankers of Nigeria (CIBN).
The apex bank boss said Nigerian banks are not liquid enough to service the $1 trillion economy President Bola Tinubu is aiming for in the near future.
He said: “Esteemed guests, considering the policy imperatives and the projected economic growth, it is crucial for us to evaluate the adequacy of our banking industry to serve the envisioned larger economy.
“It is not just about the stability of the financial system in the present moment, as we have already established that the current assessment shows stability.
“However, we need to ask ourselves: Will Nigerian banks have sufficient capital relative to the financial system’s needs in servicing a $1.0 trillion economy in the near future? In my opinion, the answer is “No!” unless we take action.
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