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 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 N1725 and sell at N1735 on Thursday 24th October 2024, 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 N1725. Selling Rate N1735
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1650. Selling Rate N1651
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has confirmed that the federal government is planning to raise the Value Added Tax (VAT) rate to 15%, but emphasized that the hike will largely target luxury goods.
Speaking at an investor forum during the IMF/World Bank Annual Meetings in Washington, D.C., Edun clarified that the proposed VAT increase, currently under consideration by the National Assembly, will be applied gradually and will primarily affect luxury items.
Essential goods, especially those consumed by poorer and vulnerable Nigerians, will continue to be exempt from VAT or attract a zero rate.
“In terms of VAT, President Bola Tinubu’s commitment is that while implementing difficult and wide-ranging but necessary reforms, the poorest and most vulnerable will be protected.
“So, the Bills going through the National Assembly in terms of VAT will raise VAT for the wealthy on luxury goods, while at the same time exempting or applying a zero rate to essentials that the poor and average citizens purchase,” Edun explained.
He further assured that the government will release a list of essential goods exempted from VAT at a later date to provide clarity to the public.
