Black Market Dollar To Naira Exchange Rate Today 8th November 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 7th November, 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 N1010 and sell at N1030 on Tuesday 7th November 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	N1010
Selling Rate	N1030

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	802
Selling Rate	803

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

Nigeria Loses N4.3 Trillion To Oil Theft Over Five Years – FG

The Federal Government revealed on Monday that over five years, crude oil valued at more than N4.3 trillion was stolen through 7,143 cases of pipeline vandalism.

This revelation was made during the Nigeria International Pipeline Technology and Security Conference in Abuja, centring around the theme “Bolstering Regulations, Technology, and Security for Growth.” The event was organized by the Pipeline Professionals Association of Nigeria.

A presentation by the Nigeria Extractive Industries Transparency Initiative (NEITI), a federal government agency, emphasized that the issue of oil theft and losses in Nigeria had escalated into a national crisis.

Ogbonnaya Orji, the Executive Secretary of NEITI, stressed that oil theft represented an urgent and significant threat to the oil industry’s exploration and exploitation, with severe negative repercussions on economic growth, business opportunities, and the profit margins of oil companies.

Providing data from the agency’s reports to back his claims, he said: “NEITI disclosed that in the last five years, 2017 to 2021, Nigeria recorded 7,143 cases of pipeline breakages and deliberate vandalism resulting in crude theft and product losses of 208.639 million barrels valued at $12.74m or N4.325tn.

“NEITI reports also disclosed that during the same period, Nigeria spent N471.493bn to either repair or maintain pipelines.”