The dollar to naira exchange rate in the black market (parallel market) for today, 7th September 2024, stands as follows:
- Buying Rate: N1660 per dollar
- Selling Rate: N1675 per dollar
These rates are based on information from Bureau De Change (BDC) sources. It’s important to note that the Central Bank of Nigeria (CBN) does not recognize these parallel market rates and advises individuals to use official channels, such as banks, for foreign exchange transactions.
CBN Exchange Rate Today
- Buying Rate: N1620 per dollar
- Selling Rate: N1621 per dollar
Exchange rates can fluctuate, and the rates at which you buy or sell forex may differ from these figures.
VAT Proposal Clarification by Taiwo Oyedele
Dr. Taiwo Oyedele, Chairman of the Presidential Committee on Tax Reforms, clarified that the committee proposed a complete removal of Value Added Tax (VAT) on items like house rents, food items, and public transport, rather than a 10% VAT increase as reported by some sources.
Oyedele emphasized that the proposal also includes tax cuts for employers offering transport services to their staff and those employing more workers than usual.
