The dollar to naira exchange rate in the black market, also known as the parallel market (Aboki FX), witnessed the following rates on Saturday, 8th July 2023: buying rate at N780 and selling rate at N790, based on information from trusted sources at Bureau De Change (BDC).
It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals to approach their respective banks for foreign exchange transactions.
In other news, twelve petroleum marketers were recently apprehended in Kogi State for reopening sealed stations. These marketers had allegedly removed the closure seal placed by the Nigeria Mainstream Downstream Petroleum Regulatory Authority (NMDPRA) and resumed petrol sales. The Nigeria Security and Civil Defence Corps (NSCDC) collaborated with NMDPRA in making these arrests. Previously, in June of this year, NMDPRA had sealed 50 out of 90 fuel stations in Kogi state due to various violations, including expired licenses and under-dispensing of products.
Please note that forex rates may vary from the information provided in this article, as prices are subject to change.