Politics
Current Black Market Dollar To Naira Rate For July 29, 2024
Current Black Market Dollar To Naira Rate For July 29, 2024....KINDLY READ THE FULL STORY HERE▶
The exchange rate for the U.S. dollar against the Nigerian naira on the black market, also known as the parallel market or Aboki FX, for July 28, 2024, is as follows:…… CONTINUE READING
– **Buying Rate**: ₦1600 per dollar
– **Selling Rate**: ₦1613 per dollar
These rates reflect the values at which traders buy and sell dollars in Lagos’ parallel market, according to Bureau De Change (BDC) sources.
The Central Bank of Nigeria (CBN) does not endorse the black market exchange rates and advises individuals seeking foreign exchange to transact through official banking channels.
**CBN Official Exchange Rate Today**
For comparison, the CBN rates are:
– **Buying Rate**: ₦1601 per dollar
– **Selling Rate**: ₦1602 per dollar
Please note that actual transaction rates may vary from the figures provided here due to fluctuations in the market.
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**CAC Releases New Guidelines for Banks**
The Corporate Affairs Commission (CAC) has issued updated regulations to support Deposit Money Banks in the ongoing recapitalization process.
The new guidelines, announced via the CAC’s official Facebook page, align with the authority granted under Section 8 (1) (e) of the Companies and Allied Matters Act No. 3 of 2020. They cover procedures for submitting applications related to new incorporations, share capital increases, mergers, and changes in license authorization.
Applicants for new incorporations must provide essential documentation, including an approved name reservation, preliminary approval from the relevant sector regulator, a completed online incorporation form, and payment of stamp duty and filing fees according to the type of license being sought.
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