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The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar. [when?] [68] According to a recent (June 2024) report by Naija News, the parallel market exchange rate of the naira to the U.S. dollar is around ₦1483 per 1 USD, significantly higher than the official Central Bank of Nigeria rate. This ...
The black market is used to facilitate the movement of oil across state-borders and beyond the Gulf of Guinea. [ 8 ] [ 1 ] For sales within Nigeria, members of the political elite are often involved in laundering stolen oil into the legitimate oil market.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Africa are sorted according to data from the International Monetary Fund. [1]
The gap between official and black market exchange rates continues to widen, with many people and informal traders who dominate the economy again preferring the more stable dollar.
Nigeria: Afikpo, Nigeria () 1 Police Inspector killed, 2 civilians abducted: 2015-11-06: unknown: 2015-11-06: On November 6, 2015 at approximately 8:45am the town of Afikpo in Ebonyi State was invaded by a group of heavily armed pirates in speed boats.
Often, foreign exchange controls can result in the creation of black markets in currencies. This leads to a situation where the actual demand for foreign currency is greater than that which is available on the official market. As such, it is unclear whether governments have the ability to enact effective exchange controls.
Libya: Libyan Stock Market* Tripoli: 2007: 7 LSM Malawi: Malawi Stock Exchange* Blantyre: 1995 14 MSE: InfoTech Capizar [6] [7] Mauritius: Stock Exchange of Mauritius: Port Louis: 1988 170 SEM: Millenium Information Technology [8] Morocco: Casablanca Stock Exchange* Casablanca: 1929 81 Casa SE Mozambique: Bolsa de Valores de Moçambique* Maputo ...
As an example, in August 2017, one of Libya's most notorious human and fuel smugglers Fahmi Salim Bin Khalifa was captured [15] [16] [17] as ordered by the Attorney General's Office and praised by the state owned National Oil Corporation. The move is notable due to Libya's 2013 – 2017 security vacuum and governance crisis.