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 10th July 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 N780 and sell at N785 on Monday, 10th July 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 | N780 |
| Selling Rate | N785 |
Financial Institutions Training Centre (FITC) has revealed that Nigerian citizens operating different bank accounts were at a loss to the tune of N472 million in the first quarter of 2023 only.
The said money was lost to fraudsters. Naija News understands that FITC’s institutional members are members of the Nigerian Banker’s Committee, which comprises the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation and all licensed banks in Nigeria.
In its latest report, FITC noted that there was a total of 12,553 cases of fraudulent transactions within the period under review.
The Q1 data report obtained from the institution’s website showed a decline in losses compared to what was lost to fraudulent banking activities in Q4 2022.
The latest record showed a total of N3.18 billion was lost to fraudsters across banking platforms in Q4 2022, which meant that the losses declined by 85.13 per cent in Q1 2023.
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