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 12th October, 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 N735 and sell at N740 on Wednesday 12th October 2022, 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 | 735 |
| Selling Rate | 740 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices varies.
Insurance Industry Records 0.2% Increase, Client Claims Hit N174bn
The National Insurance Commission (NAICOM) has said that the gross claims paid by the insurance companies in the country rose by 0.2 percent in the first half of 2022.
The commission announced the development via a ‘Bulletin of the insurance market performance’ report for the first half of 2022 financial period.
The report stated that, “The growth of the gross claims reported was 0.2 per cent during the quarter compared to the corresponding period of 2021. The industry statistics for gross claims in Q2 of 2022 stood at N174.8bn, representing 47.3 per cent of all premiums generated during the period.
“This occasion reflects the professional underwriting capacity of the industry as driven by the intensified regulatory activities of the commission. The net claims paid on the other hand stood at about N148.2bn, signifying an 84.8 per cent of all gross claims reported during the period.”
The report also stated that the life insurance business reported a near perfect point of about 88.9 per cent claims settlement as against the reported claims, while non-life segment stood at about 76.8 per cent.
This article was originally published on OsunDaily News
