Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 21st May 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 21st May 2024

Published on 21 May 2024 at 6:12 AM
By Noah Abdulsalam

What is the Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 20th May below…..read also Black Market Dollar To Naira (NGN) Exchange Rate Update For May 19, 2024

You can exchange 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 fx):**
– **Buying Rate:** N1460
– **Selling Rate:** N1490

According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) is N1460 for buying and N1490 for selling as of Monday, 20th May 2024.

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market). Individuals wanting to engage in Forex should approach their respective banks.

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**Dollar to Naira Black Market Rate Today**

| **Dollar to Naira (USD to NGN)** | **Black Market Exchange Rate Today** |
| — | — |
| **Buying Rate** | N1460 |
| **Selling Rate** | N1490 |

**Dollar to Naira CBN Rate Today**

| **Dollar to Naira (USD to NGN)** | **CBN Rate Today** |
| — | — |
| **Buying Rate** | N1500 |
| **Selling Rate** | N1501 |

Please note that the rates you buy or sell forex at may differ from those captured in this article, as prices can vary.

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### CBN Withdraws Directive on Cybersecurity Levy Collection

The Central Bank of Nigeria (CBN) has officially rescinded its directive that required banks and payment service providers to collect and remit fees as specified under the Cybercrime Prevention and Prohibition Amendment Act of 2024.

Announced in a revised circular dated May 17, 2024, this move marks a significant policy reversal. The initial mandate, outlined in a May 6 circular, aimed to bolster national cybersecurity measures by enforcing the collection of a national cybersecurity levy from financial institutions.

Naija News reports that the revised circular, signed by the Director of Payment Systems Management, Chibuzor Efobi, and the Director of Financial Policy and Regulation at the CBN, Haruna Mustafa, effectively nullifies the previous directive. Titled “Re: Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act 2024 – Implementation Guidance on the Collection and Remittance of the National Cybersecurity Levy,” it indicates a complete withdrawal of the earlier circular and a pause in enforcing the levy collection.