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 9th August 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 N900 and sell at N905 on Wednesday, 9th August 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 | N900 |
| Selling Rate | N905 |
The federal government has been told to stop the operations of the cryptocurrency exchange company, Binance in Nigeria in order to strengthen the naira.
The call was made by the president of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe in an interview with newsmen in Lagos on Tuesday.
He suggested that the operations of Binance is one of the factors putting pressure on the naira and needs to be stopped.
“If you know about Binance, you will know that Binance trading is becoming the anchorage of both the investors and exporters window and the parallel market, which is unfortunate,” Gwadabe said.
“So, we have to do something that can stop Binance. It’s a competition; we need to ban Binance and the only way to do so is if we have liquidity.
“As I speak, Binance is the most liquid market. They do about 1.2 million transactions per second. So it’s a very liquid market but that is not a scary status, we can break it through our local content and peculiarities.”
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