The local currency opened at N575.50 per $1 at the parallel market otherwise known as the dollar to naira black market, today Lagos Nigeria, Monday, February 28, 2022, after it closed at N574.00 per $1 on Sunday, 27th February.
According to information obtained from Bureau De Change (BDC) operators interviewed by Brand News Day Nigeria at the Lagos Island market, Lagos, Nigeria last Friday. The player disclosed that the Naira falls massively at the parallel market exchange rate as a result of an increase in demands for FX.
Black Market Dollar To Naira
The local currency opened at N575.50 per $1 at the parallel market otherwise known as the black market on Monday, 28 February 2022, in Lagos Nigeria, after it closed N574.50 per $1 on Sunday morning, February 26, 2022.
Lagos Island Black Market Forex
In our latest survey at the Lagos Island Black Market, which is operated by Bureau De Change (BDC) players, it was confirmed that the current Dollar to Naira exchange rate today is N575.
Abuja Black Market Forex
In a similar vein, in the Abuja Black Market where Forex is traded, players confirmed that they buy USD at the rate of N573 and sell back at the rate of N575.
The table below shows the latest black market rate of the U.S Dollar To Naira, European Euro to Naira, and Great Britain Pounds To Naira.
| Date | Currency | Selling (NGN) | Buying(NGN) |
February 28, 2022 | US DOLLAR | 575 | 573 |
February 28, 2022 | POUNDS STERLING | 780 | 776 |
February 28, 2022 | EURO | 648 | 642 |