Politics
Latest Black Market Rate: Dollar To Naira Exchange On November 29, 2023
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Check out the Black Market exchange rate for the Dollar to Naira on November 28th below. You have the option to exchange your dollars for Naira at these rates…CONTINUE READING
What is today’s Dollar to Naira rate in the Black Market?
On Tuesday, November 28th, 2023, the exchange rate for a dollar to Naira at the Lagos Parallel Market (Black Market) shows a buying rate of N1155 and a selling rate of N1160, according to sources at the Bureau De Change (BDC).
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the Parallel Market (Black Market). The CBN has directed individuals engaging in Forex transactions to approach their respective banks.
Dollar to Naira Black Market Rate Today:
- Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
- Buying Rate: N1155
- Selling Rate: N1160
Dollar to Naira CBN Rate Today:
- Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
- Buying Rate: 820
- Selling Rate: 821
In other news, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced plans to increase the capital base of commercial banks in the country.
Cardoso shared this information during the 58th Annual Bankers’ Dinner and grand finale of the 60th anniversary of the Chartered Institute of Bankers of Nigeria (CIBN).
Expressing concern, Cardoso noted that Nigerian banks may not be adequately liquid to support the $1 trillion economy envisioned by President Bola Tinubu in the near future.
He stated, “Considering the policy imperatives and the projected economic growth, it is crucial for us to evaluate the adequacy of our banking industry to serve the envisioned larger economy.
Emphasizing the need for action, Cardoso questioned whether Nigerian banks would have sufficient capital relative to the financial system’s needs in servicing a $1.0 trillion economy, asserting that the answer is “No!” unless proactive measures are taken.
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