Current Exchange Rate at the Black Market (Parallel Market)
For 5th November 2024, here’s the black market Dollar to Naira exchange rate:
What’s the Value of a Dollar in Naira Today?
Black Market Exchange Rate for Dollar to Naira Today
As of 5th November 2024, Lagos-based black market players are buying dollars at N1725 and selling at N1735, according to sources at Bureau De Change (BDC), highlighting the disparity from the official exchange rate.
It’s crucial to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), encouraging individuals who wish to engage in foreign exchange to approach their respective banks.
Black Market Exchange Rate – Buying and Selling Rates
| Dollar to Naira (USD to NGN) | Black Market Rate Today |
| Buying Rate | N1725 |
| Selling Rate | N1735 |
Official Exchange Rate – CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1664 |
| Selling Rate | N1665 |
Important Note
Please be aware that the rates you buy or sell foreign exchange may differ from those presented in this article, as prices can fluctuate.
MTN Nigeria Communications Plc has reported a loss after tax of ₦514.9 billion in its financial results for the nine months ending 30 September 2024, reflecting a mixed performance.
This loss is a contrast to the profit after tax of ₦4.1 billion reported in Q3 2024.
When adjusted for the net foreign exchange loss, the Profit After Tax (PAT) stood at ₦118.5 billion, representing a decline of 59.2%.
This loss is primarily attributed to the devaluation of the naira, resulting in a decrease of ₦4.1 billion compared to the ₦519.1 billion reported in the half-year results.
In spite of the challenging economic environment, service revenue experienced a significant increase of 33.6%, reaching ₦2.4 trillion.
The total number of subscribers decreased by 0.9% to 77.0 million, influenced by the NIN-SIM linkage regulations, which led to the deregistration of certain Subscriber Identity Module (SIM) cards by telecom companies.
The report shows a 5.1% rise in active data users, totaling 45.3 million, while the number of active mobile money (MoMo PSB) wallets decreased by 21.8% to 2.8 million.
