Central Bank of Nigeria (CBN) doesn’t approve the parallel market popularly known as black market as it tells individuals who want to engage in Forex or currency exchange to head to their respective banks.
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Please note that Parallel market rates (black market rates) you see on SparoBanks NG are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this page because prices vary by Black Market operators and location as there is no law mandating a fix rate.
This Portal does not set or determine forex rates.