The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has been revealed. According to sources at Bureau De Change (BDC), black market traders are selling dollars at N1610 and buying at N1600 as of Friday, August 9, 2024.
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.
In other news, the Dangote Refinery is reportedly set to divest a 12.7 per cent stake in 2024 to facilitate loan servicing. This development was disclosed in a recent report published by Fitch Ratings, a credit rating agency.
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