Black Market Dollar To Naira Exchange Rate Today 5th 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 4th 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 N620 on Wednesday, 4th 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
620

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

Power Firms Owe Banks N861.14bn – CBN

The Central Bank of Nigeria (CBN) says electricity operators owe Nigerian banks N861.14bn which has risen to 12.83 percent in one year in December 2021.

According to data from CBN, power generation firms and independent power producers increased their total debt to N522.2bn in December 2021 from N443.37bn in December 2020.

The apex bank added that transmission and distribution firms owed banks N338.94bn as of December 2021, up from N319.85bn a year earlier.

Recall that in July 2020 that the core investors in the distribution companies were looking to restructure the loans advanced to them by banks for the acquisition of the power assets.

This article was originally published on Nigeria News