Today’s Black Market Exchange Rate: USD To NGN (31st March 2024) 

Today’s Black Market Exchange Rate: USD To NGN (31st March 2024) 

Discover the Latest Dollar to Naira Exchange Rate Looking for the current Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? Find out the latest rates for 30th March below and consider your options for exchanging your currency…….READ ALSO Black Market Dollar To Naira Exchange Rate Today: 30th March 2024

Check Out the Price of Scissor Lifts in Lagos (Don’t Miss Out) Explore New Trends in Kitchen Design for 2024 Enhance Your Garden with Budget-Friendly Fences Grab Unsold Generators at Unbeatable Prices What’s the Black Market Rate for Dollar to Naira Today? Get the latest update on the black market exchange rate for Dollar to Naira (Aboki dollar rate): On Saturday 30th March 2024, players in the Lagos Parallel Market (Black Market) were buying a dollar for N1260 and selling at N1270, as reported by sources at Bureau De Change (BDC).

Keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals to approach their respective banks for Forex transactions.

Today’s Black Market Dollar to Naira Exchange Rate USD to NGN (Black Market Exchange Rate Today) Buying Rate: N1260 Selling Rate: N1270 CBN’s Dollar to Naira Rate Today USD to NGN (CBN Rate Today) Buying Rate: 1303 Selling Rate: 1304 Please be aware that the Forex rates may vary from those mentioned here as prices are subject to fluctuations. CBN Implements New Minimum Capital Base for Banks The Central Bank of Nigeria (CBN) has announced revised minimum capital requirements for commercial, merchant, and non-interest banks to bolster the banking sector.

In a statement released on Thursday by the Acting Director of Corporate Communications Department, Hakama Sidi Ali, the CBN set the minimum capital base for commercial banks with international authorization at N500 billion.

The CBN further outlined that commercial banks with national authorization must meet a minimum threshold of N200 billion, while those with regional authorization are required to have a capital base of N50 billion.

Additionally, the CBN disclosed that non-interest banks with national and regional authorizations must maintain capital bases of N20 billion and N10 billion, respectively.

This adjustment comes in response to prevailing macroeconomic challenges and pressures stemming from both domestic and external factors.

As per a circular issued to all commercial, merchant, and non-interest banks, as well as promoters of proposed banks, banks are mandated to comply with the new minimum capital requirements within 24 months, starting from April 1, 2024, and concluding on March 31, 2026.

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