Economy
SEE Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/04/Dollar-Naira.jpg&description=SEE Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/04/Dollar-Naira.jpg&description=SEE Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The value of the Nigerian Naira against the U.S. Dollar continues to fluctuate, with significant variations between the official exchange rate and the black market rate.
Below is an update on the current exchange rates for today.
Black Market (Parallel Market) Exchange Rate
According to information obtained from Bureau De Change (BDC) operators in Lagos and other major trading hubs, the exchange rate for the U.S. dollar on the black market is as follows:
Buying Rate: ₦1,620 per $1
Selling Rate: ₦1,630 per $1
It is important to note that the Central Bank of Nigeria (CBN) does not recognize transactions carried out in the parallel market. The regulatory body has consistently warned individuals and businesses against trading forex outside the official channels, emphasizing that all foreign exchange transactions should be conducted through authorized financial institutions, such as commercial banks.
CBN Official Exchange Rate
The official exchange rate set by the Central Bank of Nigeria (CBN) is significantly lower than what is obtainable in the parallel market. As of today, the official exchange rate is:
Highest Rate: ₦1,538 per $1
Lowest Rate: ₦1,520 per $1
While the official exchange rate reflects CBN’s efforts to stabilize the forex market, limited dollar supply at commercial banks has driven many individuals and businesses toward the black market, where rates are determined by demand and supply.
Factors Influencing the Exchange Rate
Several factors contribute to the continuous depreciation of the Naira, including:
Forex Scarcity: Limited availability of U.S. dollars in the official market forces businesses and individuals to rely on the black market.
Inflation: Rising inflation weakens the purchasing power of the Naira, making foreign currencies more expensive.
Foreign Investment Levels: Low foreign direct investment (FDI) and portfolio investment inflows reduce forex reserves, impacting exchange rates.
Economic Policies: Government policies, including restrictions on forex access and trade regulations, influence the exchange rate movement.
Global Economic Trends: International market conditions, oil price fluctuations, and global monetary policies affect Nigeria’s forex reserves and exchange rate stability.
Advice for Forex Traders and Businesses
If you require forex for international transactions, always check with your bank first before turning to the black market.
Be cautious when dealing in the parallel market, as rates fluctuate frequently, and the risks of scams and counterfeit currency exist.
Consider alternative financial strategies, such as diversifying assets, to hedge against forex instability.
Exchange rates are highly volatile, and the figures quoted today may change within hours. Always verify rates from multiple sources before proceeding with forex transactions.
Economy
Oyedele Delivers ₦39.63bn Lifeline to 24,814 Pensioners as PTAD Clears Long-Standing DBS Liabilities
L:R: Director General of PTAD, Mrs Tolulope Odunaiya in a warm handshake with the Minister of Finance, Mr Taiwo Oyedele in Abuja.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has reaffirmed his commitment to improving the welfare of Nigerian pensioners with the successful disbursement of ₦39.63 billion to 24,814 eligible Defined Benefit Scheme (DBS) pensioners, ending years of anxious waiting for thousands of retirees.
Working under the supervision of the Federal Ministry of Finance, the Pension Transitional Arrangement Directorate (PTAD) carried out the payments following the Minister’s directive to prioritise the settlement of verified pension liabilities, bringing relief to beneficiaries across the country.
Mr. Oyedele said the payment reflects the administration’s determination to ensure that retired public servants receive the benefits they earned through decades of dedicated service.
“A nation that values service must also honour those who gave their productive years in its service. This payment is about people, not just figures. It is about restoring confidence, rewarding sacrifice and giving thousands of pensioners and their families the reassurance that they have not been forgotten.”
The Minister explained that the disbursement covered three categories of outstanding pension obligations that had accumulated over the years.
According to him, PTAD paid ₦25,053,703,604.12 to clear the outstanding 35-month pension liability owed to 9,675 eligible Defined Benefit Scheme pensioners of the defunct NITEL/MTEL.
The Directorate also disbursed ₦9,481,886,576.53, representing the initial 50 per cent payment of the Back End Computation (BEC) arrears due to 3,959 eligible PHCN Defined Benefit Scheme pensioners.
In addition, PTAD paid ₦5,094,784,054.27, representing the outstanding 50 per cent balance of the 10.66 per cent and 12.95 per cent pension increment arrears due to 11,180 eligible Defined Benefit Scheme pensioners of the defunct Assurance Bank, NICON Insurance, NITEL and People’s Bank of Nigeria.
For many of the beneficiaries, the payments mark the end of years of uncertainty. They provide the means to meet pressing family needs, pay medical bills, support loved ones and enjoy retirement with greater peace of mind.
Mr. Oyedele said government remains mindful of the real lives behind every pension payment.
“Behind every approved payment is a retiree who served this country faithfully, a family that has waited patiently and a story that deserves a positive ending. We will continue to support measures that improve the lives of our senior citizens while maintaining fiscal discipline and accountability.”
The Minister commended the management and staff of PTAD for the prompt implementation of the directive, describing the successful disbursement as evidence of what can be achieved when institutions work together in the public interest.
“PTAD has demonstrated professionalism in implementing this exercise. The Ministry will continue to provide the policy direction and support required to strengthen pension administration and ensure that verified obligations are settled as resources become available.”
The Director-General of PTAD, Mrs. Tolulope Odunaiya, said the Directorate remained focused on delivering efficient pension administration and expressed appreciation to the Honourable Minister for his leadership and support, which made the release and prompt disbursement of the funds possible.
The latest payment represents another important step in the Federal Government’s efforts to improve the welfare of retirees and ensure that public institutions deliver meaningful outcomes for Nigerians under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The Black Market Dollar-to-Naira Exchange Rate for 3rd July 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 3rd July 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1408 and buy at ₦1396 on Friday, 3rd July, 2026, 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
Selling Rate ₦1408
Buying Rate ₦1396
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1373
Lowest Rate ₦1360
The Black Market Dollar-to-Naira Exchange Rate for 1st July 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 1st July 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Wednesday, 1st July, 2026, 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
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1385
Lowest Rate ₦1376
Nigeria’s Team D’Tigers risks hotel ejection in Angola, over unpaid bills, possible disqualification
Ooni debunks report over conferment of chieftaincy title on Baba Ijesha
Presidency Orders DSS, EFCC To Probe Govt Officials Linked To PFIPC Scandal
-
News16 hours agoSouth Africa snubs compensation for Nigerians who abandoned property after anti-migrants protests
-
News16 hours agoCourt Orders Final Forfeiture Of Ex-Minister’s Abuja Apartment, Seizes Four More Properties
-
Sports16 hours agoArgentina luckily escape as they manageably survive tiny Cape Verde scare after extra time
-
News16 hours agoDespite FG’s denial, documents show the accountant-general’s office posted foreign affairs officials to PFIPC
-
Metro16 hours agoEdo: How We Escaped From Kidnappers’ Den — Victims
-
Metro16 hours agoEdo Police Arrest Fake Medical Doctor, 44 Other Suspects
-
News16 hours agoHow Yahoo boys stole judge’s N7.2m child’s school fees overnight — EFCC chair
-
News16 hours ago2027: INEC extends nationwide Continuous Voter Registration, introduces full online registration
Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49
You must be logged in to post a comment Login