Current Black Market Exchange Rate: Dollar to Naira
Here’s the latest black market exchange rate for 23rd October, 2024. You can exchange your dollars for naira at these rates.
How Much is a Dollar Worth in Naira Today?
Black Market Exchange Rate for Dollar to Naira
According to sources at Bureau De Change (BDC), the parallel market (black market) players in Lagos are buying dollars at N1723 and selling at N1728 as of Wednesday, 23rd October 2024.
Please note that the Central Bank of Nigeria (CBN) doesn’t recognize the parallel market (black market) and has directed individuals who want to trade foreign exchange (forex) to approach their respective banks.
Black Market Dollar to Naira Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦1723 |
| Selling Rate | ₦1728 |
CBN Exchange Rate for Dollar to Naira
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | ₦1655 |
| Selling Rate | ₦1656 |
Remember that Exchange Rates May Vary
MTN Nigeria has warned that the company may shut down if the government doesn’t review its policies to allow it to increase tariffs.
MTN emphasized the need for the telecommunications industry to regain profitability and maintain its operations.
According to an address by Karl Toriola, CEO of MTN Nigeria, during a visit to MTN’s facilities by the Media Innovation Programme participants in Ibeju-Lekki, Lagos, the company is in a critical situation.
Toriola highlighted that the industry has been facing significant financial losses and that prompt measures are necessary to reverse this trend.
As stated in its 2023 Sustainability Report, the operator relies heavily on profits accumulated over the past two decades, with an investment of ₦2.6 billion in corporate social initiatives.
