The black market Dollar to Naira rate popularly known as Aboki exchange rate Today 4th May 2023 can be accessed below.
Please take note that the exchange rate is subject to hourly fluctuations which are influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at ₦740 and sell it at ₦745, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within a matter of hours.
CBN Dollar to Naira Exchange Rate Today 4th May 2023:
| USD to NGN | Buying Rate | Selling Rate |
|---|---|---|
| 1 USD | 460 NGN | 460 NGN |
Black Market (Aboki) Dollar to Naira Exchange Rate as of 4th May 2023 :
| USD to NGN | Buying Rate | Selling Rate |
|---|---|---|
| 1 USD | ₦740 | ₦745 |
Please keep in mind that these rates are subject to change frequently and may not be accurate at the time of viewing.
CBN Speaks on Plans for New Naira Notes as Banks, Nigerians Complain of Scarcity
CBN Clarifies: No Plans to Phase Out Redesigned Naira Notes, Despite Reports of Scarcity
The Central Bank of Nigeria (CBN) has issued a statement to refute reports that it plans to withdraw the newly redesigned N200, N500, and N1,000 notes from circulation. The apex bank’s clarification comes amid rising concerns about the apparent disappearance of the new notes, which have led to speculation and complaints from bank customers.
Acting director of corporate communications, Isa Abdulmumim, stressed that the speculation was unfounded and a strategy employed by certain groups to incite fear among the public. He also reiterated that both the old and new currency notes were being used concurrently and that the CBN was regularly receiving a substantial amount of updated banknotes from the Nigerian Security Printing and Minting Company (NSPMC) Limited.
The Redesigned and Old Notes Will Continue to Be Accepted as Legal Tender
Abdulmumim emphasized that the CBN remained committed to supplying the approved indent for the smooth running of the economy. He urged members of the public to disregard any report suggesting a phase-out of the redesigned currency and stated that the redesigned and old notes would continue to be accepted as legal tender. These notes would circulate side-by-side for transactions until December 31, 2023, when the old N1000, N500, and N200 banknotes would eventually be phased out.
Bank Customers Lament Over Counter Payment With Only Old Naira Notes
In an earlier report by GoldenNewsNg, bank customers lamented being paid over the counter with only old naira notes. This has led to concerns about the availability of the new notes in circulation. However, the CBN has reassured the public that the new notes are still in circulation and will continue to be so.
CBN Places 7,552 BVNs on Its Watchlist, to Close Millions of Accounts in Access, Other Banks
According to Musa Jimoh, the Director of the Payment Systems Management Department of the Central Bank of Nigeria (CBN), 7,552 account holders have been added to the Bank Verification Number (BVN) watch list due to fraud-related activities. This represents a 25 percent rise from the 6,045 individuals on the CBN watchlist in June 2022. Jimoh disclosed this update on May 2, 2023, in Calabar.
Jimoh, who was represented by Adefuye Adeyemi, the assistant director in the department, revealed that the individuals investigated for various fraud risks face being excluded from the financial system.
