Naira Crashes Against Dollar On The NAFEX And Parallel Market
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 6th May, 2022 below. You can swap your dollar to Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N570 and sell at N588 on Friday, 6th 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 570 |
| Selling Rate | 588 |
Business magnate, Elon Musk has gotten $500 million support from world’s largest cryptocurrency exchange, Binance to help purchase Microblogging platform, Twitter.
Binance has joined the list of other financiers that have contributed to help Musk acquire the social media platform.
Musk has received 19 pledges of about $7.1bn from investors in his quest to take over Twitter.
Other financiers include, Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia, Sequoia Capital, Fidelity Management & Research Company, Oracle co-founder Larry Ellison, who sits on Tesla’s board and VyCapital, the 13D Securities and Exchange Commission filing noted.
The Saudi Arabian investor plans to hold his stake of 35 million shares after the deal.
Talks continue with Jack Dorsey and other shareholders about retention of their Twitter shares.
The filing disclosed that the latest funding commitments mean that the $12.5bn margin loan that Musk obtained has been reduced to $6.25bn, with the deal now being financed by $27.25bn in equity and cash.