Black Market Dollar To Naira Exchange Rate Today 30 April 2022
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 June, 2022, below. You can swap your dollar to Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N585 and sell at N610 on Sunday, 5th June, 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 | 585 |
| Selling Rate | 610 |
Banks and Payment Service Providers have been directed by the Central Bank of Nigeria to accept indemnity from customers for highly secured online funds transfers.
The apex stated this in a circular signed by the Director, Payments System Management Department, Musa Jimoh, with the reference number: PSM/DIR/PUB/CIR/01/006, titled ‘Circular on the review of operations of the NIBSS Instant Payments System and other electronic payment options with similar features, which was released on Thursday.
The circular reads, “Further to the circular on the above reference BSP/DIR/GEN/CIR/01/011 and dated August 13, 2014, banks are hereby required to comply with the following:
“Accept indemnity from customers for highly secured online funds transfer above N1m for individual and N10m for corporate, subject to a maximum of N25m (individual) and N250m (corporate).
“Provide customers with the option of electronic or paper indemnity based on the customer’s preference.
“Implement electronic indemnity with stricter controls requiring biometric verification of identity.
“Adhere to multiple-factor authentication for highly secured online funds transfer.
“Inform and educate customers on the use of indemnity to increase transaction limits where possible.”
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