Today, January 16, 2023, Black Market Dollar to Naira Exchange Rate

What is the current exchange rate for dollars and nairas on the black market, commonly referred to as the parallel market (Aboki fx)? See below for the 15th of January’s black market Dollar to Naira conversion rate. 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 N748 and sell at N750 on Sunday 15th January 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 RateN748
Selling RateN750

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Banking System Remains Resilient – CBN

The Central Bank of Nigeria (CBN) has disclosed in its statements on monetary policies that as at the end of 2022 the banking system has continued to be resilient with major financial soundness.

The CBN Governor, Godwin Emefiele noted that there was noticeable growth caused by the substantial overshoot of domestic claims above programmed benchmark which reflects the sustained growth of banking system credits to the private sector, consistent with the CBN policy to finance high-impact sectors.

He said, “Despite rising private sector credits and elevated uncertainties, the banking system remained resilient and stable as NPL ratio (4.81 per cent), liquidity ratio (40.14 per cent) and CAR (13.39 per cent), outperformed their prudential limits. In order to insulate our economy from adverse external developments, it remains imperative to fortify our economic base by de-risking the productive sector and diversifying completely.

“This is especially as frozen oil receipt impedes the FX market, shrinking external reserves from $37.39bn in September to $36.87bn in October, and abetting exchange rate pressures.”

A member of the MPC, Adeola Adenikinju, said the various Financial Soundness Indicators showed that the banking systems remained safe, sound, and resilient.

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