Black Market Dollar (USD) To Naira (NGN) Exchange Rate For Today, October 1, 2024

Current Dollar to Naira Exchange Rate

Curious about today’s black market dollar to naira exchange rate? Also known as the parallel market (Aboki FX), here are the rates for September 30, 2024, where you can exchange your dollars for naira.

Black Market Exchange Rates:

• Buying Rate: ₦1,695
• Selling Rate: ₦1,700

On September 30, 2024, in the Lagos Parallel Market, currency traders were purchasing dollars for ₦1,695 and selling them at ₦1,700, according to sources from Bureau De Change (BDC).

It’s important to note that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market and advises individuals interested in foreign exchange to approach their banks.

CBN Exchange Rate for Today

Dollar to Naira (USD to NGN) CBN Rates:

• Buying Rate: ₦1,600
• Selling Rate: ₦1,601

Keep in mind that the exchange rates for buying or selling forex may differ from those stated in this article, as rates can fluctuate.

Oil Companies Indebted to Nigeria: $6.17 Billion in Royalties and Taxes

According to a report, oil companies owe the Nigerian government approximately $6.175 billion in unpaid royalties and taxes. This information was revealed by the Nigeria Extractive Industries Transparency Initiative (NEITI) during its recent audit of the petroleum sector.

Presented in Abuja on Friday, the report indicated that as of August 31, 2024, unpaid royalties and penalties for gas flaring owed to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) totaled $6.071 billion and ₦66.4 billion.

Additionally, outstanding petroleum profit taxes, company income taxes, withholding taxes, and VAT owed to the Federal Inland Revenue Service (FIRS) reached $21.926 million and ₦492.8 million as of June 2024.

NEITI also reported a 9% decrease in industry revenue for 2023, with total earnings of $16.467 billion, down from $18.106 billion in 2022.