What is today’s Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki FX)?
Below is the black market Dollar to Naira exchange rate for 19th August. You can exchange your dollars for Naira at the following rates:
On Monday, 19th August 2024, the exchange rate for a dollar to Naira at the Lagos Parallel Market was between ₦1,600 for buying and ₦1,605 for selling, according to sources from Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market and advises individuals interested in foreign exchange transactions to approach their respective banks.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| —————————- | ——————————- |
| Buying Rate | ₦1,600 |
| Selling Rate | ₦1,605 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Exchange Rate Today |
| —————————- | ——————————- |
| Buying Rate | ₦1,574 |
| Selling Rate | ₦1,575 |
Please be aware that the rates at which you buy or sell foreign exchange may differ from the rates mentioned in this article, as prices can vary.
Nigerian Government Launches $500 Million Dollar Bond with 9.75% Interest Rate
The Federal Government of Nigeria has officially launched a $500 million dollar-denominated bond, available for subscription starting from August 19, 2024. This follows the government’s earlier announcement of its plans to issue the bond as part of its broader financing strategy.
This five-year bond will offer an annual interest rate of 9.75%, with a maturity date set for 2029. The subscription period will remain open until August 30, 2024, providing investors with ample time to participate.
The settlement date for the bond is scheduled for September 6, 2024, marking the point when investors’ purchases will be confirmed and interest will begin to accrue.
This bond issuance represents a key component of Nigeria’s financial plan, offering investment opportunities to both domestic and international investors.
The bond is structured with semi-annual coupon payments, and investors can buy units starting at $1,000 each. The initial minimum subscription requirement is set at $10,000, with additional investments possible in multiples of $1,000.
At the end of the five-year term, the bond will be redeemed through a bullet repayment, ensuring that investors receive their principal in full upon maturity.
This development follows the announcement by Finance Minister Wale Edun, who highlighted the bond issuance as a critical step in boosting Nigeria’s economy.
Patience Oniha, Director General of the Debt Management Office (DMO), also clarified that the settlement for the bond auction would take place 10 days after the close of the auction.
