Current Dollar to Naira Exchange Rate in the Black Market (Parallel Market or Aboki)
As of November 4th, 2024, the black market or parallel market exchange rate for the US dollar against the Nigerian naira is as follows. You can exchange your dollars for naira at these rates.
What’s the Current Dollar to Naira Exchange Rate in the Black Market?
Black Market Dollar to Naira Exchange Rate (Aboki FX)
According to sources at Bureau De Change (BDC), on November 4th, 2024, the black market players in Lagos are buying a dollar for N1720 and selling at N1730. Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and individuals who want to engage in foreign exchange (forex) transactions are advised to approach their respective banks.
Dollar to Naira Exchange Rate in the Black Market
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate |
| Buying Rate | N1720 |
| Selling Rate | N1730 |
Dollar to Naira Exchange Rate Set by the Central Bank of Nigeria (CBN)
| Dollar to Naira (USD to NGN) | CBN Exchange Rate |
| Buying Rate | N1664 |
| Selling Rate | N1665 |
Important Note: The exchange rates you use for buying or selling forex might be different from the rates mentioned in this article, as prices can fluctuate.
Reports emerging from Kano State, Nigeria’s commercial center, indicate a severe cash shortage. Residents are struggling to access cash, even at Point of Sale (POS) operators, which are usually a backup option during emergencies. The cash scarcity is affecting businesses and threatening the livelihoods of the people.
Halliru Akilu, a resident, shared his experience: “Lately, there has been a cash shortage. I rarely carry cash with me. I usually search for places where I can get cash. It’s now challenging.
When I need to go to work, it’s a daily struggle because many POS operators are unwilling to accept digital payments. I have to find cash to buy what I need.”
Akilu urged authorities to investigate the issue, as it’s seriously impacting businesses and daily life.
