Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 31st March 2024

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 30th March, 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 N1260 and sell at N1270 on Saturday 30th March 2024, 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	N1260
Selling Rate	N1270

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	1303
Selling Rate	1304

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

CBN Increases Minimum Capital Base For Banks

The Central Bank of Nigeria (CBN) has released new minimum capital requirements for commercial, merchant and non-interest banks.

In a statement on Thursday by its Acting Director, Corporate Communications Department, Hakama Sidi Ali, the apex bank pegged the minimum capital base for commercial banks with international authorisation at N500 billion.

The CBN added that national authorisation commercial banks need to meet an N200bn threshold, while those with regional authorisation are expected to achieve an N50bn capital base.

The apex bank also disclosed that the new requirements for non-interest banks with national and regional authorisations are N20bn and N10bn, respectively.

It said the increase was necessary due to prevailing macroeconomic challenges and headwinds occasioned by external and domestic shocks.

Recall that a circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasized that all banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026.