The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has hit N1620 as of August 8, 2024.
According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1610 and sell at N1620.
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 a related development, the Presidency has celebrated the increase in crude oil output to 1.7 million barrels per day, attributing it to President Bola Tinubu’s political will.
The Senior Special Assistant to the President on Digital and New Media, O’tega Ogra, said the increase in crude oil output was the first in a long time and showed the willingness of the federal government to make the oil and gas industry work.
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