Connect with us
Advertisement

Dollar to Naira Exchange Rates

Black Market Dollar To Naira Exchange Rate To 13th February 2023

Published

on

Dollar to naira exchange rate today

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 12th 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 N758 and sell at N760 on Sunday 12th 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 N758
Selling Rate N760

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

Banks Shun CBN Directive, Reject Old Naira Notes

Reports have indicated that banks across the country have refused to accept old naira notes.

It was gathered that banks issued circulars to some of the filling stations, urging them to stop accepting the old bills, as the DMBs would not collect them from marketers.

According to Punch, many traders in the Federal Capital Territory, Ogun, and Lagos states have started rejecting the old N1,000, N500, and N200 notes.

The traders claimed that old notes collected from sales made were rejected by banks on Friday morning.

Naija News recalls that the Central Bank of Nigeria Governor, Godwin Emefiele during an interactive session with the House of Representative ad hoc committee on the currency redesign and naira swap policy on Tuesday said the CBN will accept the old naira from banks after the announced deadline.

He referred to the CBN act mandates the apex bank to continue to accept old notes after their expiration.

He said, Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand.”