The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the Naira closed at 1650.00 per $1 on Monday, September 9, 2024. Naira traded as high as 1621.12 to the dollar at the investors and exporters (I&E) window on Tuesday.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1640 |
| Selling Rate | N1650 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1628 |
| Selling Rate | N1629 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
NANS Demands Reversal Of Fintech’s ₦50 Transfer Levy
Oladimeji Uthman, Senate Clerk of the National Association of Nigerian Students (NANS), has encouraged economic policymakers to review fintech companies’ newly imposed electronic transaction fees.
In a statement posted on Sunday, Uthman expressed his displeasure of the new legislation, which demands a fee of ₦50 for electronic transfers of ₦10,000 or more handled through fintech firms.
This legislation, which is set to take effect on September 9, 2024, is viewed as putting further financial hardship on Nigerian students and the larger society.
Uthman noted that this new charge, which was previously limited to commercial banks, now applies to fintech platforms such as OPay and Moniepoint, effectively ending the period of complimentary banking services that many of these providers had offered.
“The levy directed to the Federal Government via the FIRS does not benefit the fintech companies themselves,” he stated.
Uthman urged the Federal Government to consider alternative revenue streams, including investments in agriculture, high-quality education, infrastructure enhancement, and job creation, instead of placing further financial strains on students and the general populace.
