Today, January 15, 2023, Black Market Dollar to Naira Exchange Rate

What is the current exchange rate for dollars and nairas on the black market, commonly referred to as the parallel market (Aboki fx)? See below for the 14th of January’s black market Dollar to Naira conversion rate. At these prices, you can exchange your dollars into naira.

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 N740 and sell at N750 on Saturday 14th January 2023, 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 (USD to NGN)Black Market Exchange Rate Today
Buying RateN740
Selling RateN750

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Discos Didn’t Remit N128.3bn In Six Months – FG

The Federal Government has accused power distribution companies of not remitting a total of N128.3bn between January and June 2022.

This was disclosed in the second quarter 2022 report of the Nigerian Electricity Regulatory Commission released on Thursday.

In the report, it was indicated that the power firms did not remit N58.32bn in the second quarter of last year.

According to Punch, the first quarter report of the commission showed that the Discos failed to remit N69.94bn to the country’s electricity market regulator during the review period.

The power sector regulator said the power firms did not make the outstanding remittances to the Nigerian Bulk Electricity Trading Plc and the Market Operator, an arm of the Transmission Company of Nigeria.

NERC speaking on the power market remittance in the second quarter stated that the combined invoices from the NBET and MO to the Discos in Q2 2022 was N185.01bn, split into generation costs – N149.89bn, while transmission and administrative services was put at N35.12bn.

The report stated, “Out of this amount, the Discos collectively remitted a total sum of N126.69bn (N102.35bn for NBET and N24.34bn for MO) with an outstanding balance of N58.32bn.

“This corresponds to a remittance performance of 68.48 per cent during the quarter. Poor remittance is a direct consequence of the Discos recording higher than allowed ATC&C (Average Technical Commercial and Collection) performance as established above.”

The platform said that the data sourced from the Q1, 2022 report of the NERC on market remittance indicated that the combined invoices from NBET and MO to Discos in the first quarter of last year was N205.63bn, split into generation costs – N164.86bn; while transmission and administrative services was N40.77bn.

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