- Buying Rate: N1657
- Selling Rate: N1663
These rates are provided by players in the Bureau De Change (BDC) sector and are subject to variations based on location and demand. c to use official channels through their respective banks for foreign exchange transactions.
Dollar to Naira CBN Rate Today:
- Buying Rate: N1593
- Selling Rate: N1594
Nigerian Financial Fraud in Q2 2024
In other financial news, fraud in Nigeria’s financial sector surged in the second quarter of 2024, with losses amounting to ₦42.6 billion out of a total ₦56.3 billion. The Financial Institutions Training Centre (FITC) released a report detailing 11,532 fraud cases, with mobile fraud and POS-related fraud accounting for a significant share of these incidents. The rise in fraudulent activities through mobile apps and internet banking continues to pose challenges for Nigeria’s financial institutions, underscoring the need for stronger security measures.
If you plan to exchange foreign currency, be aware that actual buying and selling rates may differ slightly depending on your location and the dealer you are transacting with.