Aboki Rate: Latest US Dollar To Naira Black Market Rates Today, 31 July 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 30th July, below. You can swap your dollar to Naira at these rates.

How much is dollar to naira today in 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 N685 and sell at N715 on Saturday 30th July, 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
685

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 varies.

Emirates Cuts Nigerian Flights Over $85m Blocked Funds

United Arab Emirates (UAE) carrier, Emirates has said that it will be reducing the number of times it frequents Nigeria from 11 to 7 per week.

This is due to the inability to repatriate funds from sales of tickets.

Naija News reports that the Nigerian government has been under pressure due to blocked funds belonging to foreign airlines which have hit over $500m.

Emirates alone have $85m trapped funds.

In a letter dated July 22, addressed to the Minister of Aviation, Senator Hadi Sirika, the Emirates, explained they had to take the action to cut down the continued losses Emirates is experiencing as a result of funds being blocked in Nigeria.

The letter read: “It is with a heavy heart that I write to inform you of planned reductions in Emirates’ operations to Nigeria. With effect from 15 August 2022, Emirates will be forced to reduce flights from Dubai to Lagos from 11 per week to 7 per week.

“As of July 2022, Emirates has US$ 85 million of funds awaiting repatriation from Nigeria. This figure has been rising by more than $US 10 million every month, as the ongoing operational costs of our 11 weekly flights to Lagos and 5 to Abuja continue to accumulate.

“These funds are urgently needed to meet our operational costs and maintain the commercial viability of our services to Nigeria.

“It is with a heavy heart that I write to inform you of planned reductions in Emirates’ operations to Nigeria. With effect from 15 August 2022, Emirates will be forced to reduce flights from Dubai to Lagos from 11 per week to 7 per week.”