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 1st September 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 N915 and sell at N918 on Friday, 1st September 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 | N915 |
| Selling Rate | N918 |
The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has disclosed how much each state have received from the federal government N5 billion to all state of the federation and the Federal Capital Territory (FCT).
The minister, on Friday, during a briefing with key government officials in Abuja, confirmed that N2 billion has so far been released to each state government from the N5 billion total palliative.
Naija News reports that in the last few days, some state governors have confirmed receipt of the initial N2 billion from the federal government, while others have clarified that the total package has a 52 percent drive component and a 48 percent loan component to be repaid by states.
Recall that the Federal Government had last month announced an N5 billion palliative for each state of the federation, including the Federal Capital Territory (FCT), to cushion the impact of the removal of the petrol subsidy.
The Finance Minister, during the briefing, said the partial release of the funds is to curb inflation.
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