Dollar Surge: Naira Crashes In Black Market – The Sh**cking Numbers Revealed

Dollar Surge: Naira Crashes In Black Market – The Sh**cking Numbers Revealed

What’s the exchange rate for the Dollar to Naira today at the black market, also known as the parallel market (Aboki fx)? Here’s a look at the latest rates for….Dollar Surge: Naira Crashes In Black Market – The Sh**cking Numbers Revealed

December 20, 2024:

Current Exchange Rates:

• Buying Rate: ₦1656
• Selling Rate: ₦1660

These rates reflect the prices at the Lagos parallel market, as sourced from Bureau De Change (BDC) operators.

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and has advised individuals to conduct their forex transactions through authorized banks.

CBN’s Official Dollar to Naira Rates:

• Highest Rate: ₦1570
• Lowest Rate: ₦1532

Please be aware that actual buying or selling rates may differ slightly depending on location and other market factors.

Dangote Group Clears the Air on $1 Billion Loan Claim: NNPC Misled Nigerians

In a recent statement, the management of Dangote Group responded to claims made by the Nigerian National Petroleum Company Limited (NNPCL) regarding a $1 billion crude-backed loan to Dangote Refinery. According to Anthony Chiejina, Group Chief Branding and Communications Officer, the $1 billion was not a loan but an investment into the refinery.

The statement clarified that NNPC was supposed to contribute $1 billion out of a total $2.76 billion used to acquire a 20% stake in the refinery. However, NNPC’s failure to meet the agreement’s terms led to its stake being reduced to 7.24%.

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