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 16th May, 2022 below. You can swap your dollar to Naira at these rates.
How much is dollar to naira today in 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 N585 and sell at N596 on Monday, 16th May, 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 Rate | 585 |
| Selling Rate | 596 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices varies.
Nigeria Spends 86% Revenue On Debt Servicing Under Buhari, South Africa Spends Only 20% In Same Year
Financial analysts have described Nigeria’s debt servicing as outrageous and a setback to the country’s economic status among its African counterparts.
Findings have revealed that the country spent 86 per cent of its revenue on servicing debt last year.
While Nigeria managed to survive the year with 14% of the remaining revenue, South Africa only spent only 20 per cent of its own revenue on the same purpose in the year under review, Naija News understands.
According to the International Monetary Fund’s 2021 Article IV estimates, Africa’s most populous nation spent 85.5 per cent of its revenue on servicing the debt in 2021.
On the contrary, South Africa’s budget office, situated in the National Treasury, estimated its debt service-to-revenue in 2021 at 20 per cent.
This article was originally published on Nigeria News