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Keep Track Of Your Currency: Naira To Dollar Black Market Rate On September 11, 2023

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Keep Track Of Your Currency: Naira To Dollar Black Market Rate On September 11, 2023....KINDLY READ THE FULL STORY HERE▶

What is the current exchange rate between the US Dollar and the Nigerian Naira in the unofficial market, commonly referred to as the black market or Aboki FX? Find the black market exchange rate for the Dollar to Naira on the 10th of September below. You can utilize these rates for converting your Dollars to Naira.

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What is the Dollar to Naira rate today in the black market? Here’s the current exchange rate for the US Dollar to Naira in the black market, as per Aboki dollar rates:

At the Lagos Parallel Market (Black Market), traders are buying the US Dollar for N920 and selling it for N925 on Sunday, the 10th of September 2023, based on information obtained from Bureau De Change (BDC) sources.

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market) for foreign exchange transactions. Instead, the CBN instructs individuals seeking to engage in forex activities to approach their respective banks.

Today’s Black Market Exchange Rate for the US Dollar to the Nigerian Naira

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N920
Selling Rate N925

Please be aware that the rates at which you purchase or sell foreign exchange may differ from the figures presented in this article due to market fluctuations.

Nigeria’s Trade Deficit Hits N5.7 Trillion In Q2 2023

The Foreign Trade Statistics report reveals that Nigeria recorded a trade deficit of N5.7 trillion in the second quarter of 2023. According to the report published by the National Bureau of Statistics (NBS) on Thursday, Nigeria’s total trade volume amounted to N12.7 trillion, with total exports valued at N7 trillion and total imports standing at N5.7 trillion.

In the meantime, Nigeria has generated N3.48 trillion in revenue from Value Added Tax (VAT) and Company Income Tax (CIT) in the first half of 2023 (H1’23). According to data from the National Bureau of Statistics (NBS), this figure represents a 17 percent year-on-year increase from N2.97 trillion in the corresponding period of 2022 (H1’22).

The VAT revenue amounted to N1.49 trillion in H1’23, marking a 25 percent year-on-year rise from N1.19 trillion in H1’22.

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Akpabio Camp Row Deepens As APC Chieftain Rejects Suspension Report.

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A chieftain of the All Progressives Congress (APC) in Akwa Ibom State, Chief Edet Ben, has denied involvement in the alleged suspension of Mr. Eseme Eyiboh, Special Adviser to the Senate President on Media and Publicity, from the party in Ward 9, Esit Eket Local Government Area.....KINDLY READ THE FULL STORY HERE▶

Ben, who serves as an Ex-Officio member of the party in Ward 9, threatened legal action against those behind what he described as the forgery of his name and signature on documents claiming Eyiboh’s suspension.

In a sworn court affidavit, Ben described the purported suspension process as fraudulent and non-existent.

He stated that no meeting was held on April 22 to discuss or approve any disciplinary measures against Eyiboh or any other party member, adding that he neither attended nor endorsed such proceedings.

Ben also alleged that his name and signature were falsely inserted into an attendance list linked to the alleged suspension exercise.

He subsequently disowned both the attendance document and the suspension letter reportedly sent to APC leadership at the chapter and state levels.

In his notice, Ben demanded the immediate removal of his name from the documents, a public retraction, and an end to any unauthorised use of his identity.

He warned that failure to comply within 24 hours would result in legal action.

The controversy follows an announcement by a faction within the ward claiming Eyiboh had been suspended over alleged anti-party activities.

Meanwhile, a grassroots political group, Ward Nine New Era (WNNE), has strongly condemned the move, describing it as malicious, baseless, and invalid.

The group argued that the action appeared targeted at a key political figure who had recently mobilised grassroots support for major APC leaders, including President Bola Tinubu, Senate President Godswill Akpabio, and Governor Umo Eno.

WNNE also questioned the legitimacy of the ward executives behind the move and insisted that due process was not followed.

The group urged party members and the public to disregard the suspension, maintaining that it lacked credibility and legal standing.

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Frustration Mounts As Students Await Scholarship Fund Disbursement.

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Students in tertiary institutions have expressed strong dissatisfaction over the continued non-payment of their scholarship funds, despite repeated appeals to the relevant authorities.....KINDLY READ THE FULL STORY HERE▶

They lamented that disbursements have not been made to awardees for 2024, 2025, and 2026, while outstanding arrears owed to some beneficiaries from 2022 to 2024 also remain unpaid. The students are now calling on the government to urgently intervene.

According to them, several attempts to engage key institutions—including the Federal Ministry of Education, the Ministry of Finance, the Office of the Accountant-General of the Federation, and legislative bodies—have not produced any tangible results or clear payment timeline.

Salihu Iliya, who represents awardees in the North Central region, said the situation has caused significant hardship for students across the country.

He stressed that education should be treated as a fundamental right and not a privilege, adding that government commitments to students must be honoured without delay.

In a joint statement issued by awardees’ representatives nationwide, the students reiterated that despite multiple engagements with authorities, the issue remains unresolved.

They confirmed that no funds have been disbursed to beneficiaries of the 2024, 2025, and 2026 scholarship cycles, while arrears for earlier beneficiaries are still pending.

Under the Federal Scholarship Board scheme, students are required to maintain a minimum CGPA of 4.0 after their first year to continue receiving support until graduation. However, beneficiaries say the system has been plagued by persistent delays in payment.

Kabiru Datti Na Malanta, a 2022 awardee and Civil Engineering student at Abubakar Tafawa Balewa University, said he initially relied on the scholarship to ease his financial burden but has since been forced to borrow money due to non-payment.

He explained that although beneficiaries were approved for N250,000 per session, later increased to N300,000 and then N450,000, none of the promised payments have been received.

Another student, Umar Faruk Sada of the Federal University of Technology, Minna, said the delays have made it difficult for him to meet basic needs such as accommodation, feeding, and academic materials, adding that he has lost hope after waiting for over two years.

Other students also expressed concern over the broader impact, warning that the situation could undermine trust in government education initiatives and contribute to brain drain.

Some described the delays as a violation of beneficiaries’ rights, while others said it reflects wider systemic challenges in the education sector.

Students further argued that the scholarship scheme, meant to support education and human capital development, is failing to achieve its purpose due to persistent administrative bottlenecks.

Efforts to get a response from the Federal Scholarship Board were unsuccessful as of the time of filing this report.

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2027: Association Throws Weight Behind Tinubu’s Re-election Bid.

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Members of the Integrated Association of Consolidated Wood, Planks and Material Sellers have embarked on a solidarity walk in support of President Bola Ahmed Tinubu’s re-election bid.....KINDLY READ THE FULL STORY HERE▶

The march, which commenced from the association’s secretariat in Ikotun, passed through Isolo, Ejigbo, Igando-Ikotun, and Egbeda-Idimu Local Government Areas, as members mobilised support ahead of the 2027 general elections.

Speaking to journalists during the exercise, the association’s president, Sunday Olusesan Adewunmi, praised the President’s performance and called on Nigerians to back his second-term ambition.

“We are ready to support President Tinubu and mobilise for the next general election. He has been doing well, and we believe he deserves another term to consolidate on his achievements,” he said.

Also speaking, the market chairman, Fatai Adekeye, urged critics of the administration to recognise areas of progress despite ongoing economic challenges.

He reaffirmed the association’s commitment to mobilising votes for the President in 2027, particularly across Alimosho and surrounding communities.

“President Tinubu has done a lot, and we believe the current challenges will yield long-term benefits. We are working collectively to ensure his re-election,” he stated.

A trader, Aishat Alabi, also encouraged residents to support the All Progressives Congress, expressing confidence that the party would secure victory in Lagos State in the next election.

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