What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
Below is the black market Dollar to Naira exchange rate for 16th November. 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):
Currently, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1137 and sell at N1140 on Thursday 16th November 2023, 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 | N1137 |
| Selling Rate | N1140 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 826 |
| Selling Rate | 827 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
In a significant shift in the Nigerian banking landscape, Union Bank of Nigeria Plc, a stalwart on the Nigerian Stock Exchange (NGX) for over half a century, has announced its intention to delist from the NGX. This decision follows the acquisition of a substantial shareholding by Titan Trust Bank (TTB), marking a new chapter for one of Nigeria’s longest-standing financial institutions.
Background of the Acquisition
In a statement, Union Bank confirmed that it had received an offer from Titan Trust Bank Limited, its core shareholder, to acquire the shares of all minority shareholders. This move comes on the heels of TTB’s acquisition of a majority stake in Union Bank, previously held by core investors. Titan Trust Bank, a subsidiary of TGI Group, acquired a 93.4% stake in Union Bank by mid-2022, receiving approval from the Central Bank of Nigeria in 2021 for the initial acquisition of an 89.4% stake.
The Delisting Process
As per the corporate filing on the NGX website, the delisting process is in its final stages of approval. Upon successful delisting, Union Bank’s shareholders are poised to receive a scheme consideration of N7.70 per share. The delisting process, being implemented as a scheme of arrangement in accordance with Section 715 of the Companies and Allied Matters Act 2020, signifies a strategic shift for Union Bank as it embarks on a transformative journey under the new ownership
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