Check out the black market exchange rate for the Dollar to Naira on January 3rd below. You have the option to exchange your dollars for Naira at these specified rates…CONTINUE READING

As of Wednesday, January 3rd, 2024, at the Lagos Parallel Market (Black Market), individuals can purchase a dollar for N1220 and sell it for N1230, as reported by sources at Bureau De Change (BDC).

It is important to emphasize that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market (black market) and instructs those interested in Forex to approach their respective banks.

Today’s Black Market Exchange Rate for Dollar to Naira:

• Buying Rate: N1220
• Selling Rate: N1230

CBN’s Exchange Rate for Dollar to Naira Today:

• Buying Rate: 913
• Selling Rate: 914

Please be aware that the actual rates at which you buy or sell forex may differ from those presented in this article due to market fluctuations.

In the third quarter (Q3) of 2023, a cumulative capital importation of $655.4 million was recorded by five states in the federation and the Federal Capital Territory (FCT), Abuja.

Foreign investors focused their investments primarily on Lagos, FCT, Abia, Ogun, Akwa-Ibom, and Ekiti during the months of July, August, and September.

Other states did not report any capital importation during this period. Lagos received $308.83 million, FCT received $194.66 million, Abia received $150.09 million, and Ogun received $1.00 million. Akwa Ibom and Ekiti received $65,000 and $12,750, respectively.

According to a report by the National Bureau of Statistics (NBS), Abia’s capital importation of $150.09 million in Q3 2023 marked its highest since 2020 when it attracted $56.07 million.

It is essential to note that capital importation involves bringing in capital from abroad to support investment, trade, and manufacturing activities within a country.