Black Market Dollar To Naira Exchange Rate To 12th February 2023

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 11th February, 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 N754 and sell at N758 on Saturday 11th 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

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

New Naira Note: CBN Might Print More Note Abroad – Sources Reveal

Indications have emerged that the Central Bank of Nigeria (CBN) is likely to contract the printing of the redesigned ₦1,000, N500, and N200 notes to contractors abroad.

Sources from the apex bank have revealed that this is because the Nigerian Security Printing and Minting Plc (NSPMC) which had been responsible for the printing of the naira notes might not have the capacity to meet the demand for the new notes.

Naija News gathered that a top banker confided in The Punch on Friday that information available to him indicated that the Mint company had succeeded in printing N500bn worth of the new ₦1,000, N500 and N200 notes and might not have the capacity to do more than that at the moment.

According to the source who pleaded anonymity, “It is obvious that what has been printed is not enough. How can you withdraw about N2.1 trillion from circulation and only print N500 billion to replace that?

“Is it not obvious that the NSPMC does not have the capacity to print more than N500bn? With the Mint’s current capacity, printing N2tn will take about a year. Even the N500bn printed has been hijacked by politicians, especially governors. You heard one governor saying one of his colleagues was able to withdraw N500m.

“What the CBN is doing is to give us only 10 per cent of the worth of the old notes we deposit with it. For instance, if a bank takes N1bn to the CBN branch office in its area of operation, it will be given N100m new notes to distribute to its branches nationwide and load onto its ATMs.”

The speculation that the CBN might bulge to the pressure of printing more new notes to boost the circulation of the currency, might result from the decision of the National Council of State on Friday during its meeting.