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 22nd December, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1670 and sell at N1680 on Sunday 22nd December 2024, 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 Black Market Rate Today
| Dollar to Naira (USD to NGN) |
Black Market Exchange Rate Today |
| Buying Rate |
N1670 |
| Selling Rate |
N1680 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) |
CBN Rate Today |
| Highest Rate |
N1570 |
| Lowest Rate |
N1532 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Point-of-Sale (PoS) operators across Nigeria have raised their withdrawal fees, charging between ₦150 to ₦200 for every ₦5,000 transaction, up from the previous rate of ₦100.
The operators attribute this increase to the ₦50 Electronic Money Transfer Levy (EMTL) imposed by the Federal Inland Revenue Service (FIRS) on financial technology (fintech) companies.
In September, fintech firms announced their intention to apply the ₦50 levy on transactions of ₦10,000 and above, citing compliance with FIRS regulations.
This levy is a one-time charge on electronic transfers or receipts of ₦10,000 or more into both personal and business accounts via any commercial bank or financial institution.
The federal government officially enforced the policy on December 1, compelling major fintech platforms like OPay, Moniepoint, Kuda, and others to implement the charge.
Why the Hike in PoS Charges?
Speaking to TheCable, Sarafadeen Fasasi, National President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), confirmed that the levy had triggered an adjustment in PoS transaction fees.
“Yes, it is because of the electronic levy. We have to transfer the cost of the charges being imposed. It started immediately after FIRS implemented the directive for the ₦50 charge,” Fasasi explained.
