The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1035 and sell at N1040 on Monday, 16th October 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 | N1035 |
| Selling Rate | N1040 |
The founder and owner of the telecommunication giant, Globacom Limited, Mike Adenuga, has reportedly paid N154 billion to the federal government.
Naija News reports that the payment of the N154 billion was to offset part of the N200 billion spectrum license renewal debt it owed the government.
SaharaReporters on September 21 reported that sources within the presidency accused Adenuga of compromising the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, with bribes and promises of presidential intervention to secure his two-year term.
However, on Wednesday, the platform said a top source confirmed that Adenuga has paid N154 billion for the renewal fees.
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