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 25th April, 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 N733 and sell at N750 on Tuesday 25th April 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
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Nigeria is owing the World Bank $13.93bn (N6.42tn), according to data from the external debt stock reports by the Debt Management Office (DMO).
Nigeria’s borrowing from the World Bank has risen by 121.46 percent in the last eight years under President Muhammadu Buhari-led government.
According to the PUNCH, the total debt owed to the World Bank Group by Nigeria rose by $7.64bn (N3.52tn, using the exchange rate of the Central Bank of Nigeria, which was N460.53 per dollar as of April 23, 2023) in seven years.
Specifically, the country’s indebtedness to the Washington DC, United States-based lender rose from $6.29bn (N2.9tn) as of December 2015 to $13.93bn (N6.42tn) as of December 2022, according to data from the external debt stock reports by the Debt Management Office.
The International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD), which make up the World Bank, have over the years advanced loans to Nigeria.
The IBRD lends to governments of middle-income and creditworthy low-income countries, while the IDA provides concessionary loans – called credits – and grants to governments of the poorest countries.