Today’s Exchange Rate: Black Market Dollar To Naira – 14th September 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 13th September, 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 N1662 and sell at N1665 on Friday 13th September 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.

The Nigerian National Petroleum Corporation (NNPC) Limited has requested dedicated office space for around 10 of its employees at the Dangote Refinery as part of an agreement involving the supply of crude oil.

During a X Space event hosted by Nairametrics titled “Unlocking How Dangote Refinery Shapes Price,” Vice President of Oil & Gas at Dangote Group, Devakumar V.G. Edwin, disclosed this development.

He explained that NNPC made the request since it would be responsible for supplying the crude oil, monitoring the production process, and repurchasing the refined products in Naira.

Edwin revealed: “NNPC has informed us that they intend to station a team of 6 to 10 people permanently at our refinery.

“They’ve asked us to provide office space for them since they will be supplying the crude, overseeing the production, and buying back the products in Naira.”

This arrangement involves the refinery purchasing crude from the government in Naira and selling Premium Motor Spirit (PMS) in the same currency rather than in dollars.

Edwin emphasized that negotiations with the government are ongoing, particularly regarding the pricing structure for crude oil, the pricing mechanism, and the exchange rate to be used for the Naira.

He noted that no final agreement had been reached yet, with several details still being discussed.

Speaking on behalf of Dangote, Edwin mentioned that Aliko Dangote had agreed to a proposal from the Federal Government to sell NNPC’s products back to the government in Naira, even though this might result in financial losses.