On Monday, December 2nd 2024, the Dollar to Naira exchange rate in the black market improved to N1,720 from N1,745 it closed on Thursday 28th, November 2024.
The abokifx or aboki fx (foreign exchange) operators are buying a Dollar at N1,720 as of this morning while the same is being sold at N1,730.
Economic uncertainties bedridden the Nigerian economy continue to drag on the nation’s foreign exchange rates ahead of the usual Christmas sales. See other details in the table below.
Black Market Dollar to Naira Black Rate Today
| Dollar to Naira (USD to NGN) |
Black Market Exchange Rate Today |
| Selling Rate |
N1720 |
| Buying Rate |
N1730 |
CBN Dollar to Naira Rate Today
| Dollar to Naira (USD to NGN) |
CBN Rate Today |
| Selling Rate |
N1662 |
| Buying Rate |
N1663 |
Meanwhile, the Federal Competition and Consumer Protection Commission (FCCPC) has formally launched an investigation into service delivery violations against GT Bank, MTN, and Air Peace.
This development shows a rare investigation against leading players in the banking, telecommunications, and aviation sectors.
According to a statement seen by Investors King on Sunday, the consumers’ protection body said the inquiry came following widespread consumer complaints against the three companies.
Customers have lamented service disruptions, although these companies have acknowledged this and promised effective service delivery.
However, FCCPC says the inquisitions, which will begin on December 3rd, 4th, and 5th respectively, are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications.
In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
Similarly, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
