Black Market Dollar-Naira Exchange Rate Update For 10th November 2024

Black Market Dollar-Naira Exchange Rate Update For 10th November 2024As of Saturday, 9th November 2024, the exchange rate for the Dollar to Naira in the Lagos parallel market (commonly referred to as the black market) is as follows:....KINDLY READ THE FULL STORY HERE▶

•Buying Rate: N1740

•Selling Rate: N1745

These rates reflect what players in the Bureau De Change (BDC) market are offering for the US dollar. However, it’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market and advises individuals seeking foreign exchange to approach their banks for transactions.

For comparison, the official CBN rate is:

•Buying Rate: N1664

•Selling Rate: N1665

Please note that rates in the black market may fluctuate, and actual rates can differ slightly from what is quoted here.

Civil Society Groups Urge Tinubu to Probe Alleged Fuel Importation Scheme

In related news, the Nigerian Coalition of Civil Society Organizations (NICOCSO) has called on President Bola Tinubu’s administration to investigate the activities of a “powerful group” allegedly working to undermine local refineries and push for the continued importation of Premium Motor Spirit (PMS).

NICOCSO expressed concerns that these actions could harm Nigeria’s economy, weaken the Naira, and undermine local businesses. The group also criticized the ongoing reliance on PMS imports, which limits job creation and stifles the growth of the country’s refining sector.

At a press conference in Abuja, NICOCSO’s Executive Director, Solomon Chinemerem, urged a thorough investigation into these practices and called for a policy that mandates the sale of Nigerian crude oil to local refineries in Naira.

For more information on this article and other related posts from Bushradiogist, please join our WhatsApp channel by clicking this link https://whatsapp.com/channel/0029VaUumOODTkK7AZL1Fw3o. For advertisement inquiries only, kindly send a message to 090 1907 0863 on WhatsApp.