Black Market Dollar to Naira Exchange Rate for 15th November 2024
Curious about today’s Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? Here’s the latest update for 15th November 2024.
Today’s Black Market Exchange Rate
The exchange rate for Dollar to Naira in the Lagos Parallel Market shows that buyers are offering ₦1740 per Dollar, while sellers are setting the rate at ₦1745. These figures are based on information from sources within the Bureau De Change (BDC).
Please Note: The Central Bank of Nigeria (CBN) does not recognize parallel market rates. Individuals interested in Forex transactions are advised to contact their banks.
Summary of Exchange Rates
| Dollar to Naira | Buying Rate | Selling Rate |
|---|---|---|
| Black Market | ₦1740 | ₦1745 |
| CBN Rate | ₦1657 | ₦1658 |
Disclaimer: Actual buying or selling prices may differ, as forex rates can vary depending on the source.
New Tax Reforms Under Tinubu’s Government
The Nigerian government, led by President Bola Ahmed Tinubu, is proposing a new tax system aimed at simplifying Nigeria’s tax landscape and reducing the burden of multiple taxes on individuals and businesses.
Key Changes in the Tax System
In a recent interview with Channels Television, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal and Tax Reforms, announced that the goal is to consolidate all existing taxes into a single-digit system. This would mean fewer than ten taxes within a specified period.
He explained that the reforms are designed to enhance cooperation between federal and state tax authorities, focusing on areas like data sharing, tax intelligence, and improving the skills of tax officials.
Oyedele’s Statements
“We aim to reduce all taxes to single digits by the end of the reforms. Our objective is to enable tax authorities to collect efficiently while allowing other government agencies to concentrate on their core duties, fostering an environment where the economy can thrive,” said Oyedele.
He also mentioned efforts to pass a comprehensive Nigerian Tax Administration Bill, which would streamline taxpayer registration, returns, assessments, and audits using advanced technology.
The Nigerian tax system, currently one of the most outdated globally, will undergo a transformation that could modernize tax practices and potentially drive economic growth.
