USD to NGN: Latest Black Market Exchange Rate (Nov 15, 2024)

Parallel Market Dollar to Naira Exchange Rate: What’s the Current Rate?

Get the latest black market dollar to naira exchange rate for November 14th, 2024. You can swap your dollar for naira at these rates.

What’s the Current Black Market Dollar to Naira Exchange Rate?

Black Market Dollar to Naira Exchange Rate (Aboki Dollar Rate):

As of November 14th, 2024, the exchange rate for a dollar to naira at Lagos’s parallel market players is N1740 for buying and N1745 for selling, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market, and has directed individuals who want to engage in foreign exchange (Forex) to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira CBN Rate Today

Keep in mind that rates may vary, as prices fluctuate constantly.

The Nigerian government is considering a single-digit tax system to alleviate the burden of multiple taxation on citizens. According to Chairman of the Presidential Committee on Fiscal and Tax Reforms, Taiwo Oyedele, all taxes will be reduced to single-digit figures once the current reforms are completed.

Oyedele explained that the single-digit tax system would mean that citizens or businesses would only have to pay less than ten taxes over a certain period. He highlighted that the committee has established a structure to improve collaboration between tax authorities and states in areas such as data sharing, tax intelligence, and capacity development.

Oyedele emphasized that the Nigerian tax administration bill aims to register taxpayers, file returns, assess taxes, and utilize technology for tax administration. He expressed hope that the reforms will lead to a more efficient tax system that benefits everyone.

Oyedele also noted that the current tax system is one of the most backward in the world, describing it as “embarrassing.”