The final sitting of the 7th Parliament has started.
Among other things, the House is expected to approve new standing orders, and the construction of some 7 district hospitals before it is dissolved at midnight.
Again, the House will also discuss gratuity for executives, and the securities industry bill.
Meanwhile the 7th Parliament of the Fourth Republic will be dissolved later today after serving their constitutional four-year term.
The term of the Members of Parliament will expire at the stroke of midnight and will be followed by the inauguration of the new Parliament.
The new Parliament will also elect a new Speaker and two deputies.
<p>This will be through enhanced trans-border trade with neighbouring countries of Cameroon, Chad and Niger Republic.</p>
<p>The post <a rel="nofollow" href="https://www.arise.tv/zulum-seeks-collaboration-with-customs-for-growth-of-business-in-borno/">Zulum Seeks Collaboration with Customs For Growth of Business in Borno</a> appeared first on <a rel="nofollow" href="https://www.arise.tv">Arise News</a>.</p>
<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-1000x600.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" fetchpriority="high" srcset="https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-1000x600.jpeg 1000w, https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-590x354.jpeg 590w, https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-400x240.jpeg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p>
<h2>The <a href="https://www.naijanews.com/topic/canadian-dollar/">Canadian Dollar</a> to Naira exchange rate in Nigeria's informal currency trading circles, popularly known as the black market, has reached N1,153.469 as of March 10, 2024.</h2>
<p>These transactions, typically facilitated by informal traders known as Abokis, have seen a significant increase, highlighting the ongoing volatility in the foreign exchange market.</p>
<p>The parallel market, operating independently from the official banking system, reflects the real-time supply and demand dynamics for foreign currencies in Nigeria.</p>
<p>While it offers an alternative route for obtaining foreign currencies, the black market is fraught with risks, including the potential for scams, underscoring the importance of caution among those engaging in such transactions.</p>
<p>As of today, exchanging 100 Canadian Dollars (CAD) in the black market would result in N115,346.90, while CAD1000 exchanges for N1,153,469.00, rates that significantly deviate from the official exchange rates.</p>
<p>This disparity underscores the challenges faced by individuals and businesses requiring foreign currency for international transactions, further complicating the economic landscape in Nigeria.</p>
<p>The reliance on the black market for currency exchange is indicative of the broader issues plaguing the country's foreign exchange market, including stringent currency controls and limited access to foreign currencies through official channels.</p>
<p>These challenges have prompted many to turn to the parallel market, despite the inherent risks and legal implications.</p>
<p>The Nigerian government and the Central Bank of Nigeria (CBN) have made efforts to stabilize the Naira and streamline the process of obtaining foreign currencies.</p>
<p>However, these measures have yet to fully address the demand-supply gap that fuels the parallel market's existence.</p>
<p>As the exchange rate for the Canadian Dollar continues to climb in the parallel market, the call for comprehensive reforms in Nigeria's foreign exchange policies grows louder.</p>
<p>The post <a href="https://www.naijanews.com/2024/03/10/canadian-dollar-to-naira-black-market-today-3/">Canadian Dollar To Naira Black Market Today</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>
