The latest black market Dollar to Naira exchange rate (Aboki fx) reveals the current rates for USD to NGN as of November 5, 2024. Here’s what you need to know about swapping your dollar for Naira in Nigeria’s parallel market.
Exchange Rates as of November 4, 2024:
- Buying Rate: N1720
- Selling Rate: N1730
Note: The Central Bank of Nigeria (CBN) does not endorse the black market and advises individuals needing Forex to use authorized banks.
Official CBN Rate Today:
- Buying Rate: N1664
- Selling Rate: N1665
Please be aware that these rates may vary depending on location and vendor.
Naira Scarcity Hits Kano State
Reports have emerged of a naira shortage affecting Kano State, Nigeria’s commercial hub. According to sources, Point of Sale (POS) operators are experiencing severe cash shortages, impacting daily transactions and business operations.
A Kano resident, Halliru Akilu, highlighted the challenges, saying, “Getting cash is now difficult. Many POS outlets are out of cash, and most transactions require cash rather than transfers, which affects work and commuting.”
Local businesses are calling on authorities to investigate and address the scarcity, which is affecting livelihoods across the state.
