Home Business Dollar To Naira Exchange Rate: Black Market Rate Skyrockets To N1675
Business

Dollar To Naira Exchange Rate: Black Market Rate Skyrockets To N1675

Share
Dollar To Naira Exchange Rate: Black Market Rate Skyrockets To N1675 | Daily Report Nigeria
Share

 

 

The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has skyrocketed to N1675, according to sources at Bureau De Change (BDC).

 

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) is:

 

– Buying rate: N1660

– Selling rate: N1675

 

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and individuals who want to engage in Forex are advised to approach their respective banks.

 

In related news, the Chairman of the Presidential Committee on Tax Reforms, Taiwo Oyedele, has clarified that his committee proposed a complete removal of Value Added Tax (VAT) and not a 10% increase.

 

“We proposed the removal of VAT on house rents, food items, and public transport systems. We also proposed tax cuts for employers providing transport services for their staff and those that employ more staff than they would normally need,” Oyedele said.

 

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
NNPCL to Hand Over Nigerian Refineries to Private Firms
Business

NNPCL Set to Sell Shares, Begins Preparation for Listing on Capital Market

The Nigerian National Petroleum Company Limited (NNPCL) is preparing to list its...

Marketers Project Fuel Price at N900 Per Litre
Business

Naira-for-Crude Suspension: Petrol Price Hike Looms as Talks Drag, Imports Rise

The price of Premium Motor Spirit (petrol) may rise further due to...

PETROAN Lauds NMDPRA Over Gas Distribution Licences
Business

PETROAN Commends FG, NNPCL for Successful Revamp of Port Harcourt Refinery

PETROAN has commended the Nigerian government and the NNPCL for successfully running...

Dangote Refinery Misses Production Date
Business

US Imports Over 2 Million Barrels of Jet Fuel from Dangote Refinery

The United States has imported over two million barrels of aviation fuel...