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 11th April, 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 N740 and sell at N745 on Tuesday 11th April 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
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N740 |
| Selling Rate | N745 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Industry experts have reacted to the World Bank’s $800 million loan to Nigeria as a palliative to cushion the effect of the proposed fuel subsidy removal by June.
OsunDaily News recalls that at last week’s Federal Executive Council (FEC) meeting, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed that Nigeria secured an $800 million loan from the Washington-based World Bank to serve post-subsidy removal palliatives for the Nigerians.
Ahmed submitted at the meeting that the loan which is a post-subsidy palliative plan would be distributed to 50 million Nigerians representing 10 million households to cushion the effect of fuel removal by the federal government.
However, as good as the purpose of this loan sounds, experts in the industry have come out to describe the idea as strange.
According to them, the country already has a debt stock of N46.23 trillion and now a collection of $800 million.
Speculations are that the loan would not achieve its purpose just like others as alleged by certain quarters.
This current administration has announced its intention to stop fuel subsidies before the inauguration of the incoming administration on 29th May 2023.
