The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the Naira closed at 1660.00 per $1 on Wednesday, September 11, 2024. Naira traded as high as 1621.12 to the dollar at the investors and exporters (I&E) window on Tuesday.
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 N1650 and sell at N1660 on Tuesday 10th September 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 | N1650 |
| Selling Rate | N1660 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1611 |
| Selling Rate | N1612 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
SEC Takes Action Against Unregulated Crypto Operators, Others In Nigeria
The Securities and Exchange Commission (SEC), has vowed to take action against unregulated operators in the capital market space, including crypto operators. The Director-General of SEC, Emomotimi Agama, made this known in a statement in Abuja on Sunday.
He disclosed that some participants in the market want to operate without supervision and are not ready to play by the rules but the SEC has a responsibility to protect investors. Agama, therefore, cautioned all operators to play by the rules, warning that the commission would deploy the law against defaulters.
”We are certainly going to commence enforcement actions on anyone who wants to operate in this market and does not have the intention of being regulated.
”This also applies to those in the crypto space. ”We are sending this signal to all those that want to play by the books that they are welcome to our space.
”For those that do not want to play by the books, of course we will not allow them operate within our space,” he said.
Speaking on the recent approval given in principle to two crypto exchanges, Agama said it was necessitated by the increasing interest of Nigerian youths in the digital space. He emphasized the need to provide regulation, clarity, and investors’ protection, which were the primary responsibility of SEC. He said that the activities of crypto exchanges must be watched closely so that they do not impede the economy.
