Black Market Dollar To Naira Rate Today, January 15th, 2023

What is the exchange rate between the dollar and the naira on the black market, also known as the parallel market (Aboki fx)?

See below for the dollar-to-naira exchange rate on the black market for January 14th. You can exchange dollars for Naira at these exchange rates.

How much is one dollar worth in naira on the black market today?

Dollar to naira black market exchange rate today (Aboki dollar rate):
On Saturday, January 14, 2023, the exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) is N740 to N750, according to sources at Bureau De Change (BDC).

Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who wish to engage in foreign exchange to contact their respective banks.

Please note that the rates at which you purchase or sell foreign currency may differ from those listed in this article, as 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 Nigerian Electricity Regulatory Commission’s report for the second quarter of 2022, which was released on Thursday.

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In the second quarter of last year, the power companies failed to remit N58.32 billion, according to the report.

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

The power sector regulator reported that the power companies had not made outstanding payments to the Nigerian Bulk Electricity Trading Plc and the Market Operator, which is a subsidiary of the Transmission Company of Nigeria.

NERC, speaking on the power market remittance for the second quarter, stated that the combined invoices from the NBET and MO to the Discos in Q2 2022 amounted to N185.01bn, comprised of N149.89bn in generation costs and N35.12bn in transmission and administrative services.

The report stated, “Of this amount, the Discos collectively remitted N126.69 billion (N102.35 billion for NBET and N24.34 billion for MO), leaving a balance of N58.32 billion.

This corresponds to a quarterly remittance performance of 68.48 percent.

Poor remittance is a direct result of the Discos’ exceedingly high ATC&C (Average Technical Commercial and Collection) performance, as outlined in the preceding section.

The platform stated that data derived 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 the previous year totaled N205.63 billion, with generation costs accounting for N164.86 billion and transmission and administrative services accounting for N40.77 billion.

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