Naira To Dollar Black Market Rate Today 12th July 2023

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 July 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 N780 and sell at N785 on Tuesday, 11th July 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	N790
Selling Rate	N797

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

More Drama As Ecobank Asks First Bank To Reject Otudeko’s Share Acquisition

Ecobank has called on First Bank Holdings (FBH) not to accept the acquisition of 4.7 billion shares by a former Chairman of the bank, Dr Oba Otudeko.

Naija News recalls that Oba Otudeko’s Honeywell Group last Thursday bought 4,770,269,843 shares of the firm in a cross deal worth N87.8 billion intensifying the battle for the control of First Bank of Nigeria Holdings Plc.

These shares which Otudeko bought at N19 per unit are the largest volume of First Bank shares traded in a single day since 2012, when the stock exchange started publishing data.

The acquisition takes his shareholding to 14 per cent of the bank’s outstanding market value.

A “disclosure of shareholding” sent to the Company Secretary, FBN Holdings Plc and dated July 7, 2023, by Honeywell Group Limited stated: “We write on behalf of Barbican Capital Limited, an affiliate of Honeywell Group Limited and refer to the provisions of Sections 119 and 120 of the Companies and Allied Matters Act 2020 (as amended).

“In addition to the previously disclosed interests by Honeywell Group Limited’s affiliates, kindly take this as notification that, as at 7th July 2023, Barbican Capital Limited has acquired an aggregate of 4,770,269,843 shares in FBN Holdings Plc. Kindly accept the assurances of our highest regards. Yours faithfully, Yewande Giwa Head, Governance & Sustainability.”

But Ecobank, in a letter written by its Legal Counsel, Kunle Ogunba & Associates, stated that the business magnate, through his affiliated entities, owed the bank N13.5bn.

The letter, dated July 7 and signed by the Principal Partner of the law firm, Oludare Amusan, said the bank had instituted several lawsuits against Honey Group Limited, Siloam Global Services Limited, Anchorage Leisures Limited, Honeywell flour Mills PIc and Dr Oba Otudeko at the Federal High Court, Lagos.