The dollar to naira exchange rate at the black market, also known as the parallel market, has been revealed. According to sources at Bureau De Change (BDC), black market traders are selling dollars at N1620 and buying at N1615.
This comes as the Central Bank of Nigeria (CBN) continues to direct individuals who want to engage in Forex to approach their respective banks. The CBN does not recognize the parallel market, also known as the black market.
In other news, Fidelity Bank has contested allegations of a data breach brought against it by the Nigerian Data Protection Commission (NDPC). The bank’s spokesperson, Meksley Nwagboh, asserted that Fidelity Bank did not violate any data protection laws that would justify the ₦555.8 million fine imposed by the NDPC.
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