Nigeria News

Black Market Dollar To Naira Exchange Rate Today 13th May 2022

Published by
George Oshogwe Ogbolu

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 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 N585 and sell at N598 on Thursday, 12th 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 585
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.

Reports Reveal How Nigeria Loses N91bn Oil In One Month

Not until issues such as vandalism, oil theft, and low investments are addressed accordingly, Nigeria may continue to lose fortunes from crude oil, Naija News reports.

While the above have been identified as major issues causing the nation to lose fortunes in the oil business, statistics have shown that country lost N91 billion worth of oil to some major technical issues in just one month.

The revelation was contained in recent data sourced from the Nigerian National Petroleum Corporation’s latest Monthly Financial and Operations Report (April 2021).

The report showed that the revenue was lost due to the inability to produce approximately 3.5 million barrels of oil in April.

Total oil lost for the month comes to 3.5 billion barrels. Brent International was sold for $62.95 per barrel last April. Going by a price of $62.95 per barrel and volume of 3.5 million barrels, total lost revenue in the month under review was put at approximately $220m or N91.435bn.

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Published by
George Oshogwe Ogbolu