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 4th October, below. You can swap your dollar to Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N730 and sell at N742 on Tuesday, 4th 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 | 725 |
| Selling Rate | 740 |
The Federal Government through its agency, the Advertising Regulatory Council of Nigeria (ARCON) has disclosed that it has lodged a suit against Meta Platforms Incorporated (owners of Facebook, Instagram and WhatsApp platforms) and its agent AT3 Resources Limited at the Federal High Court, Abuja Judicial Division.
According to a statement released on Tuesday, ARCON is seeking a declaration among others that the continued publication and exposure of various advertisements directed at the Nigerian market through Facebook and Instagram platforms by Meta Platforms Incorporated without ensuring the same is vetted and approved before exposure is illegal, unlawful and a violation of the extant advertising Law in Nigeria.
The apex regulatory body for Nigeria’s advertising ecosystem, stated that Meta Platforms Incorporated’s continued exposure of unvetted adverts had also led to loss of revenue to the Federal Government.
ARCON is therefore seeking N30 billion in sanction for the violation of the advertising laws and for loss of revenue as a result of Meta Incorporated’s continued exposure of unapproved adverts on it’s platforms.
ARCON reiterated that it would not permit unethical and irresponsible advertising on the Nigeria’s advertising space.
According to ARCON, the Council is not regulating the online media space, rather, it’s focus is on advertising and marketing communications on the online platforms in line with its establishment Act.
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