The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has hit N1605 as of Friday 16th August 2024.
According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1595 and sell at N1605.
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.
In other news, the organized labour has urged the government not to stop paying the ₦35,000 wage award to workers when the ₦70,000 new minimum wage becomes effective.
Funmi Sessi, Chairman of the Lagos State Chapter of the Nigeria Labour Congress (NLC), made the appeal, stating that the wage award is different from the minimum wage.
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