Latest Dollar To Naira Exchange Rate In The Black Market – November 25th, 2024

Latest Dollar To Naira Exchange Rate In The Black Market – November 25th, 2024As of Sunday, November 24, 2024, the Dollar to Naira exchange rate at the Lagos Parallel Market (commonly known as the black market) stands at a buying price of ₦1740 and a selling price of ₦1750, according to Bureau De Change (BDC) sources.....KINDLY READ THE FULL STORY HERE▶

How much is a dollar to naira today in the black market?

•Buying Rate: ₦1740

•Selling Rate: ₦1750

It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market). The CBN has instructed individuals seeking foreign exchange (Forex) to approach authorized banks for transactions.

Dollar to Naira CBN Rate Today

For comparison, the official CBN exchange rate for the Dollar to Naira is as follows:

•Buying Rate: ₦1664

•Selling Rate: ₦1665

Please be aware that these exchange rates can vary, and the rates at which you buy or sell Forex may differ from those mentioned here due to fluctuations in the market.

FAAC Revenue Sharing: ₦1.411 Trillion for October 2024

The Federation Accounts Allocation Committee (FAAC) has shared a total of ₦1.411 trillion in revenue for October 2024 among the Federal Government, States, and Local Government Councils (LGAs). This allocation was announced during the November 2024 FAAC meeting held in Bauchi State, chaired by Dr. Oluwatoyin Madein, the Accountant General of the Federation.

The distributable revenue of ₦1.411 trillion includes:

•₦206.319 billion from distributable statutory revenue

•₦622.312 billion from Value Added Tax (VAT)

•₦17.111 billion from the Electronic Money Transfer Levy (EMTL)

•₦566.000 billion from Exchange Difference revenue

The gross revenue for October 2024 stood at ₦2.668 trillion, with deductions for collection costs totaling ₦97.517 billion, and transfers, interventions, and refunds amounting to ₦1.159 trillion.

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