Understanding the Black Market Dollar to Naira Exchange Rate
Stay updated on the current black market dollar to naira exchange rate, also known as the Aboki fx, and find out how to swap your dollar for naira at these rates.
What’s the Dollar to Naira Rate Today in the Black Market?
As of November 24th, 2024, the parallel market players in Lagos are buying a dollar for N1740 and selling it for N1750, according to Bureau De Change sources.
For your information, the Central Bank of Nigeria does not recognize the parallel market and has directed individuals who want to engage in foreign exchange to approach their respective banks instead.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1740 |
| Selling Rate | N1750 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1664 |
| Selling Rate | N1665 |
Keep in mind that the rates you buy or sell foreign currency may differ from what’s listed here, as prices vary.
In other news, the Federation Accounts Allocation Committee (FAAC) has shared a total of ₦1.411 trillion among the Federal Government, States, and Local Government Councils (LGAs) for October 2024.
The allocation was made during the November 2024 meeting of FAAC in Bauchi State, chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein.
The meeting followed the 2024 National Council on Finance and Economic Development (NACOFED), hosted by the Bauchi State Government.
The allocatable revenue included ₦206.319 billion in statutory revenue, ₦622.312 billion from Value Added Tax (VAT), ₦17.111 billion from the Electronic Money Transfer Levy (EMTL), and ₦566.000 billion from Exchange Difference revenue.
According to FAAC’s communiqué, the gross revenue for October 2024 stood at ₦2.668 trillion, with deductions for collection costs amounting to ₦97.517 billion and transfers, interventions, and refunds totaling ₦1.159 trillion.
