See the black market Dollar to Naira exchange rate for 27th 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 N1600 and sell at N1610 on Tuesday 27th 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 | N1600 |
| Selling Rate | N1610 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1661 |
| Selling Rate | 1662 |
The Central Bank of Nigeria (CBN) has placed limits on foreign exchange (FX) sales by Bureau De Change (BDC) operators.
The apex made this known in a document titled ‘Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria’, released on February 23, 2024.
According to the circular, BDCs may sell foreign currency in the equivalent of $4,000 and $5,000 for personal travel allowance (PTA) or business travel allowance (BTA) to an individual once every six months.
CBN said the sale of foreign currencies to the intending travellers must be accompanied by their bank verification number (BVN) or tax identification number (TIN), duly completed e-form, valid international passport, valid visa, and valid international return ticket.
In addition, for BTA, the apex bank said a letter of request from the corporate body stating the purpose of the visit addressed to the processing BDC, as well as a certificate of the business registration or incorporation, must be submitted by customers.
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