Naira To Dollar Black Market Rate Today 23rd May 2023

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 22nd May, below. You can swap 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 dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N752 and sell at N760 on Monday 22nd May 2023, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Oil Firms Loan Default To Banks Hit N7 Trillion – CBN Reveals

The combined loan owed to banks by oil firms as of December 2022 totalled N6.62 trillion, the Central Bank of Nigeria (CBN) revealed.

Naija News learnt that the downstream and upstream subsectors of the Nigerian oil and gas industry are faced with some challenges, hence the colossal indebtedness.

Data released by the apex bank showed that while operators in the downstream, natural gas and crude oil refining subsector owed banks N4.71tn, operators in the upstream and services subsectors were indebted to banks to the tune of N1.91tn.

It also showed that the total debt rose by 110.83 per cent from N3.14tn in 2016 to N6.62tn in 2022. While the debt has increased significantly over the years, it is observed that the oil and gas sector is struggling to service its debt and defaulting on loans.