Today’s Black Market Dollar (USD) To Naira (NGN) Exchange Rate – December 23, 2024

What is the Dollar to Naira Exchange Rate at the Black Market (Parallel Market) Today?....KINDLY READ THE FULL STORY HERE▶

Check out the Dollar to Naira exchange rate at the black market for December 22nd, 2024. Below are the rates at which you can buy or sell dollars for naira.

How much is a dollar to naira today in the black market?
As of Sunday, December 22nd, 2024, the exchange rate for a dollar to naira in the Lagos Parallel Market (Black Market) is:

• Buying Rate: ₦1670
• Selling Rate: ₦1680

This information is based on sources from Bureau De Change (BDC) operators.

Important Note:
The Central Bank of Nigeria (CBN) does not recognize the parallel market (black market). It advises individuals requiring foreign exchange to approach their respective banks for official rates.

Dollar to Naira Rates Today

Please note that forex rates may vary depending on location, volume, and market conditions.

PoS Withdrawal Charges Surge Nationwide

Point-of-Sale (PoS) operators across Nigeria have increased their transaction fees, now charging between ₦150 to ₦200 for every ₦5,000 withdrawal. This marks a significant rise from the previous charge of ₦100.

The hike is linked to the ₦50 Electronic Money Transfer Levy (EMTL) introduced by the Federal Inland Revenue Service (FIRS) and applied to transactions of ₦10,000 and above.

Why the Increase?

Sarafadeen Fasasi, National President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), confirmed that the levy has directly impacted PoS fees:
“Agents had to adjust charges due to the EMTL directive enforced by FIRS. The cost is transferred to customers to maintain operations,” Fasasi explained.

The policy, officially implemented on December 1, 2024, has been adopted by major fintech platforms such as OPay, Moniepoint, and Kuda. It imposes a one-time ₦50 charge on electronic transfers or receipts of ₦10,000 or more into personal and business accounts.