As of today, 14th October 2024, the dollar to naira exchange rate in the black market (also known as the parallel market) is as follows:
- Buying Rate: N1695
- Selling Rate: N1700
These rates were sourced from Bureau De Change operators in Lagos. However, it’s important to note that the Central Bank of Nigeria (CBN) does not recognize the black market and advises individuals to conduct foreign exchange transactions through banks, where the official rates are lower.
The CBN exchange rate for today is:
- Buying Rate: N1625
- Selling Rate: N1626
Exchange rates may vary slightly depending on location and market conditions.
In related news, Nigerian bank customers could face potential service interruptions due to ongoing system upgrades aimed at enhancing banking security and efficiency. However, the lack of proper communication from banks has left many customers unprepared for these disruptions, according to Dr. Uju Ogubunka, President of the Bank Customers Association of Nigeria.
