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 21st October, 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 N742 and sell at N750 on Friday 21st October 2022, 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 | 742 |
| Selling Rate | 750 |
A data from the Nigeria Inter-Bank Settlement System has shown an increase of 30.84 per cent from the N1.67tn in the money spent on electronic bills such as power, PayTV, in the first nine months of 2022.
The data pointed out that this is the first-time electronic channels have been used to process over N2tn in utility bills, adding that the daily bill transactions are accessible and seamless, with online real-time transaction reporting, biller notification, and easy reconciliation.
The NIBBS stated, “e-BillsPay is an electronic bill payment platform that facilitates the payment of bills, fees, levies, premiums, and subscriptions etc. by the banking public through electronic payment channels provided and managed by banks.”
Giving pandemic as reason for customers opting for contactless transactions which pushed merchants to integrate online payment options with financial institutions.
The NIBSS further explains e-Bills Pay touch points include bank branches, Internet banking, mobile banking, USSD, and agent networks.
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