What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for 14th November, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1740 and sell at N1745 on Thursday 14th November 2024, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1740 |
| Selling Rate | N1745 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1657 |
| Selling Rate | N1658 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Tinubu Govt Moves To Introduce New Tax System For Nigerians
President Bola Ahmed Tinubu’s government is considering a single-digit range tax system to lessen the impact of multiple taxation on the Nigerian population.
In a recent interview on Channels Television, the Chairman of the Presidential Committee on Fiscal and Tax Reforms, Taiwo Oyedele, clarified that all taxes would be reduced to single-digit figures once the current reforms are completed.
Naija News understands 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.
Oyedele mentioned this during an interview focused on the topic, ‘Tax Reforms: Why states should not collect VAT,’ highlighting that his committee has established a structure to improve collaboration between tax authorities and states in areas such as data sharing, tax intelligence, and capacity development.
“Our hope is when we are done with our reforms, all the taxes will be down to single digit.
“We want to be able to let the authorities trained on tax matters collect taxes while others focus on primary mandates and watch the economy grow in a way that benefits everyone,” Oyedele stated.
He added: “The Nigerian tax administration bill is our term to try and put registration of taxpayers, filing of returns, assessment, doing tax audit, and using technology for tax administration. We are engaging with legislators and we believe that Nigerian lawmakers have concerns and we want to summarise the bill for them.”
Oyedele noted that the Nigerian tax system is one of the most backwards in the world, describing the situation as ‘embarrassing.’
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