Naira Records Black Market Exchange Rate Of N860 for Buying And N870 for Selling Against The Dollar On 29th July 2023

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The black market exchange rate for the Dollar to Naira on the 29th of July 2023 has been disclosed, showing that the Naira was trading at N860 when buying and N870 when selling.

For those curious about the current exchange rate between the Dollar and Naira in the black market, also known as the parallel market (Aboki fx), these are the rates you can expect on the mentioned date. Traders at the Lagos Parallel Market were reportedly buying a dollar for N860 and selling it at N870….CONTINUE READIG

It is essential to bear in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has directed individuals interested in Forex to approach their respective banks for transactions.

Please take note that the rates you encounter while buying or selling forex may differ from the figures stated in this report, as exchange prices are susceptible to fluctuations.

In other news, the Corporate Affairs Commission (CAC) has declared its intention to remove 100,000 companies from its database due to their failure to file annual returns.

During a training event in Lagos focused on utilizing the beneficial ownership register, Alhaji Garba Abubakar, the Registrar-General and Chief Executive Officer of the CAC, announced this decision. He revealed that these companies have neglected to file their annual returns over the past decade.