Glamtush reports that 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 Wednesday 1st 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N750 |
| Selling Rate | N755 |
The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market today Wednesday, 1st February 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Tuesday, 31st January 2023.
Even though the dollar to naira opened in the parallel market at ₦755 per $1 today, Glamtush reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
Glamtush reports that in the black market, the players buy a dollar for N750 and sell for N755 on Wednesday morning, 1st February 2023, after they purchased N750 and sold for N755 on Tuesday, 31 January 2023.
Meanwhile, the USD started this week at ₦755 in Parallel Market also known as Black Market on Monday, January 30, 2023, in Lagos Nigeria, after it opened at ₦743 last week Monday, January 23, 2023.
US President, Donald Trump reportedly signed an order delaying the reimposition of higher tariffs on…
Obi has faulted the arraignment and remand of a female Ibom Air passenger, describing it as…
The Federal High Court has dismissed CODRAS' suit, which means victory for Adron Homes. …
Nigerian airlines have imposed a no-fly life ban on an Ibom Air passenger over assault.…
An Ibom Air female passenger has been arraigned and remanded at Kirikiri for assaulting officials.…
Ibom Air has banned a passenger following an assault on its crew members. …
