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Aboki Rate: Latest US Dollar To Naira Black Market Rates Today, 28 August 2022

Byadmin

Aug 28, 2022

Top Nigerian Newspaper Headlines For Today, Friday, 26th August, 2022

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 27th August, below. You can swap your dollar for Naira at these rates.

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 N650 and sell at N715 on Saturday, 27th August 2022, 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 650
Selling Rate 715

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

DisCos’ Debt Hits N2tn – GenCos

The Association of Power Generation Companies has blamed the Distribution Companies for the low power generation in the country.

Speaking at an event in Lagos on Thursday, the Executive Secretary of the association, Dr Joy Ogaji, said the DisCos have also refused to pay up the N2trn debt owed them.

Ogaji revealed that the GenCos were owed N2trn and not N500bn as being reported, adding that its members also owe suppliers N1trn.

She added that the GenCos had not been able to make power available due to the huge debts being owed them by the Nigerian Bulk Electricity Trading Plc (NIBET)

Ogaji further explained that although the GenCos currently had enough power generating capacity, the market was not available as the DisCos had not been able to take all power generated.

“Nigerians don’t want power because there is no demand for it. For instance, Egbin, which has over 1000 capacity, has not been able to generate 800MW because there’s no demand,” she said.

She explained that power generation depended on market demand and Nigerians are not demanding power, which resulted in huge debt.

Ogaji also faulted the capacity of the national grid to take the whole of power generated by the generating companies.

This article was originally published on Naija News