Exchange Rate between the Black Market Dollar and the Naira as of January 29, 2023

Exchange Rate between the Black Market Dollar and the Naira as of January 29, 2023

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 28th of January’s Black market Dollar to Naira conversion rate. At these prices, you may exchange your dollars for 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 N750 and sell at N755 on Saturday 28th 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.

Exchange Rate between the Black Market Dollar and the Naira as of January 29, 2023

Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate                                   N750
Selling Rate                                   N755

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The total sum of $538.05 million has been received by President Muhammadu Buhari for the development of the first phase of the Special Agro-Industrial Processing Zones (SAPZ) for Nigeria programme.

According to Jevibe News, the African Development Bank, the Islamic Development Bank, and the International Fund for Agricultural Development all contributed money to the initiative.

President Buhari, in a statement on Wednesday, lauded the efforts of these three institutions for the provision of support in Senegal.

The president at the Feed Africa Summit of Heads of State and Government in Dakar urged other African leaders to at least allocate 10% of their nations’ budgets to agriculture as agreed in the Malabo Declaration of the African Heads of State and Government.

Exchange Rate between the Black Market Dollar and the Naira as of January 29, 2023

Exchange Rate between the Black Market Dollar and the Naira as of January 29, 2023

President Buhari, in a statement titled ‘How Africa can feed itself, produce a surplus for export, by President Buhari’ issued by his Special Adviser on Media and Publicity, Femi Adesina, noted that he appreciates the efforts of the African Development Bank to launch SAPZ.

He advanced that “I am pleased with the partnership approach used for Nigeria by the multilateral financing institutions, with the African Development Bank providing $210m, the Islamic Development Bank and the International Fund for Agricultural Development providing $310m, and the Government of Nigeria providing $18.05m.

‘‘The Special Agro-Industrial Processing Zones for Nigeria, which is in the first phase will cover seven States in the Federation.

‘‘These very innovative public-private partnership models will help us to transform the agriculture sector much faster and use it to generate wealth.

‘‘They will also allow our countries to develop integrated infrastructure around our agricultural processes and add value to the production of crops, livestock, and fisheries.’’