See Black Market Dollar To Naira Exchange Rate Today January 8, 2025

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 7th January, below. You can swap your dollar for Naira at these rates.

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1661 and sell at N1665 on Tuesday 7th January 2025, 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.

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Meanwhile, the Office of the Auditor-General for the Federation has uncovered financial irregularities totalling ₦514 billion in the 2021 operations of the Nigerian National Petroleum Company Limited (NNPCL).

The findings were detailed in an audit report highlighting non-compliance and internal control weaknesses within Ministries, Departments, and Agencies (MDAs) for the 2021 financial year.
Breakdown of Infractions
The audit revealed four major financial discrepancies:
1. Irregular Deductions: ₦343.64 billion was deducted from domestic crude oil sales at source without proper documentation.
2. Sinking Fund Deposits: ₦83.66 billion, classified as miscellaneous income, was retained in a sinking fund account.
3. Unauthorised Refinery Deductions: ₦82.95 billion was deducted from federation revenue purportedly for refinery rehabilitation.
4. Unsubstantiated Payments: ₦3.75 billion was flagged for unverified transactions relating to petrol sales.
Constitutional Violations
The Auditor-General’s report stated that these transactions breached the 1999 Constitution and the Financial Regulations Act of 2009.
Details of Irregularities
The report noted that ₦484.73 billion was generated from domestic crude oil sales in March and May 2021.

However, ₦343.64 billion was deducted for various expenses, including “Value Shortfall,” “Strategic Stock Holding Cost,” and “Pipeline Maintenance.”
These deductions were unilaterally made by NNPCL without sufficient documentation to justify the expenses.
Additionally, ₦50 billion of the net payable amount for May 2021 was unaccounted for, leaving a significant gap in federation revenue.