Today’s Black Market Dollar To Naira Exchange Rate – October 12th, 2024

Dollar to Naira Black Market Exchange Rate Today
At the Lagos Parallel Market (Black Market), as of Friday, 11th October 2024, buyers purchase the dollar for ₦1695 and sell it for ₦1700, according to sources at Bureau De Change (BDC).

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. Individuals interested in forex are advised to conduct transactions through their respective banks.

Black Market Rates:

• Buying Rate: ₦1695
• Selling Rate: ₦1700

Official CBN Dollar to Naira Rate:

• Buying Rate: ₦1625
• Selling Rate: ₦1626

Keep in mind that the exchange rates at which you buy or sell forex may vary, as market conditions are fluid.

Trinidad’s Government Shortlists Final Bidders for Petrotrin Refinery

In other news, the Trinidadian government has shortlisted three final bidders for the acquisition of the state-owned Petrotrin refinery. Among the contenders is Nigeria’s Oando Plc, owned by Wale Tinubu, nephew of President Bola Ahmed Tinubu.

Trinidad’s Finance Minister, Colm Imbert, revealed that out of ten initial proposals, three companies have progressed to the final stage: the CRO Consortium (comprising three Trinidadian firms), INCA Energy from the US, and Oando Plc from Nigeria. The bidding process, led by US-based Scotia Capital, began in February 2024.