See the black market Dollar to Naira exchange rate for 1st February, 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 N1450 and sell at N1500 on Thursday 1st February 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1450 |
| Selling Rate | N1500 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1356 |
| Selling Rate | 1357 |
The Association of Bureau De Change (BDC) Operators has reportedly decided that members will not open the market for transactions today, 1st February 2024.
Naija News understands the operators have agreed not to sell US Dollars to customers due to the continued slide in the value of the naira against the dollar.
The Union lamented that its members are being blamed for the continued fall in the value of the naira.
To this end, the BDC operators agreed to carry out a ‘no sales policy’ today after serious deliberations on how to reduce the fall of the naira.
“Nobody is coming to market tomorrow (today). We want to close the market because, honestly, the naira is just crashing anyhow. This was caused by some media reports this week that the dollar was now selling for N1,500 even though we were still selling at N1,400. Now everybody is blaming black market operators and that’s why we decided that the market will remain closed tomorrow (today).
“We will resume next tomorrow (tomorrow), and the rate should be less than N1,400/$,” a source in the BDC said on Wednesday.
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