Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 4th March 2024

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 3rd March, 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 N1600 and sell at N1620 on Sunday 3rd March 2024, 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 CBN 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.

Dangote Refinery, Africa’s largest oil refinery located on the outskirts of Lagos, Nigeria, has significantly increased its stock of imported crude oil from the United States. A second shipment of US light sweet crude oil embarked on its journey to Nigeria this Friday, marking a crucial step in the refinery’s procurement strategy.

According to Reuters, the vessel named Otis, laden with approximately 850,000 barrels of WTI Midland crude oil from Houston, set sail last week with Lekki, Nigeria, as its destination. The cargo, chartered by the global energy and commodities trading company Vitol, is expected to reach Nigeria by mid-March, as per tracking data from Kpler and LSEG.

This development follows the arrival of the first shipment comprising two million barrels of US crude on the very large crude carrier Gem No. 1, also chartered by Vitol. The cargo is nearing Nigeria and is slated for discharge next week, further demonstrating the refinery’s commitment to securing diverse sources of crude for its operations.

Dangote Refinery, constructed by Aliko Dangote, Africa’s wealthiest individual, is a state-of-the-art facility with a nameplate capacity of 650,000 barrels per day. Since commencing its crude procurement in December last year, the Nigerian National Petroleum Corporation Ltd (NNPCL) has been the primary supplier of crude to the refinery.