Black Market Dollar To Naira Exchange Rate Today 19th May 2022

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 18th May, 2022 below. You can swap your dollar to Naira at these rates.

How much is dollar to naira today in 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 N570 and sell at N598 on Wednesday, 18th May, 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

Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today

Buying Rate
570

Selling Rate
598

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

Dangote Broke, Doesn’t Have $1.1 Billion Needed To Complete Refinery – Fitch

Africa richest man, Aliko Dangote needs about $1.1 billion (N900 billion) to complete his refinery in Lagos according to American credit rating agency Fitch Ratings.

The refinery which was expected to be ready in 2019 was delayed due to the adverse effect of coronovirus in the country.

Fitch Ratings in its report in May disclosed that Dangote invested all of his money and borrowed additional funds to finance the refinery.

According to Fitch,  Dangote Industries Limited was planning to establish a local bond worth $750 million to partially fund the remaining part of the project.

The agency stated, “Funding for the completion of the refinery project is expected to be partly covered by proceeds of the new bond.”

This article was originally published on Nigeria News