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What is the current exchange rate for dollars and nairas on the black market, commonly referred to as the parallel market (Aboki fx)? See here for the black market dollar to naira conversion rate for February 5. At these prices, you can exchange your dollars into naira.
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 N750 and sell at N755 on Sunday 5th February 2023, 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 | N750 |
| Selling Rate | N755 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The Nigerian government and the Egyptian government have signed a Memorandum of Understanding to boost trade relations between the two African countries.
Nigeria, represented by the Federal Competition and Consumer Protection Commission (FCCPC), and Egypt, represented by the Egyptian Competition Authority (ECA) signed the MOU in Cairo on Thursday.
Nigerian delegations at the event included the Ambassador of Nigeria to Egypt, Ambassador Nura Rimi, and the executive vice chairman of the FCCPC, Babatunde Irukera.
The negotiations between the FCCPC and the ECA about ways to strengthen competition law and policy within their respective agencies started in 2019.
According to the management of the Nigerian agency, the FCCPC’s primary responsibilities include safeguarding consumers and fostering fair competition in Nigeria. All actions, conduct, and business dealings within Nigeria are covered by the FCCPC.
“In this regard, the FCCPC and ECA have solidified their engagements in a Memorandum of Understanding”, a statement from the FCCPC read.
“Considering that both countries are part of the largest economies in Africa, and the mutuality of both agencies’ objectives and mandates, the FCCPC and ECA on Tuesday, January 31, 2023, at the Egyptian Competition Authority’s Headquarters in Cairo, Egypt, executed the MoU. Both agencies recognize and acknowledge the purpose, and benefits this collaboration portends – strengthen economies and promote shared prosperity.”
