See the black market Dollar to Naira exchange rate for 24th October, 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 N1290 and sell at N1310 on Tuesday 24th October 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 (USD to NGN) | Black Market Exchange Rate Today |
Buying Rate | N1290 |
Selling Rate | N1310 |
Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
Buying Rate | 820 |
Selling Rate | 824.93 |
The governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has been summoned by the House of Representatives regarding the decision to lift the forex ban on 43 items.
Recall that the said items, including toothpicks, and cement, among others, were initially restricted from accessing forex in 2015. As a result, importers of these commodities were compelled to obtain foreign exchange from the black market, often at inflated rates.
However, days after the ban was lifted, the lower legislative chamber on Tuesday passed a resolution during plenary, following the adoption of a motion of urgent public importance by Sada Soli, a lawmaker from Katsina, to summon the CBN governor.
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