Naira Falls Further: Black Market Exchange Rate For September 30th, 2024 Revealed

Naira Falls Further: Black Market Exchange Rate For September 30th, 2024 Revealed

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Today’s exchange rate for the dollar to naira in the black market.

What is the current Dollar to Naira exchange rate in the parallel market (Aboki fx)? Below is the black market rate for September 29th, 2024. If you’re looking to exchange your dollars for naira, these are the rates you’ll likely encounter.

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

UPDATE: Naira Gains-Ground Against Dollar For The First-Time In Weeks

On Sunday, September 29th, 2024, at the Lagos Parallel Market (Black Market), sources from Bureau De Change (BDC) report that a dollar is bought for N1679 and sold for N1690.

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Please be aware that the Central Bank of Nigeria (CBN) does not officially recognize the black market (parallel market) and advises individuals seeking foreign exchange to visit their respective banks.

Market Consistency: Naira Records Unchanged Closure In Both Parallel And Official Sectors

Black Market Dollar to Naira Rate Today:

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	N1679
Selling Rate	N1690

CBN Dollar to Naira Rate Today:

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	N1637
Selling Rate	N1638

Naira Loses 83-Kobo Against Dollar, Trading Volume Surges (View Details)

Please note that exchange rates may vary from those provided in this article, as rates can fluctuate across different Forex sources.

Oil Companies Owe Nigeria $6.17 Billion in Unpaid Royalties and Taxes – Report

A recent audit report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that oil companies owe the Federal Government a total of $6.175 billion in unpaid royalties and taxes.

As of August 31, 2024, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was owed $6.071 billion and ₦66.4 billion in outstanding royalties and gas flare penalties. Additionally, the Federal Inland Revenue Service (FIRS) is owed $21.926 million and ₦492.8 million in unpaid petroleum profit taxes, company income taxes, withholding taxes, and VAT as of June 2024.

Naira's Depreciation: A Reflection Of Nigeria's Economic Struggles

The NEITI report also highlighted a 9% decline in revenue from the petroleum industry in 2023, down to $16.467 billion from $18.106 billion in 2022. Furthermore, the report noted a total loss of 7.68 million barrels of crude oil in 2023 due to theft and measurement inaccuracies—a sharp 79% drop from the 36.69 million barrels lost in 2022.