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Latest Update: Black Market Dollar To Naira Exchange Rate On January 2, 2024

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View the Dollar to Naira exchange rates in the black market for January 1st below. These rates indicate the buying and selling values for exchanging your dollars to Naira…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

In Lagos Parallel Market (Black Market), traders reportedly buy a dollar for N1210 and sell at N1215 as of Monday, January 1st, 2024, according to sources in the Bureau De Change (BDC).

It’s important to note that the Central Bank of Nigeria (CBN) officially does not recognize the parallel market (black market), directing individuals engaged in Forex transactions to approach their respective banks.

Dollar to Naira Black Market Rate Today:

  • Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
    • Buying Rate: N1210
    • Selling Rate: N1215

Dollar to Naira CBN Rate Today:

  • Dollar to Naira (USD to NGN) CBN Rate Today
    • Buying Rate: 898
    • Selling Rate: 899

Keep in mind that the rates for buying or selling forex may vary from those presented in this article as prices fluctuate.

In a recent report by the National Bureau of Statistics (NBS), it was disclosed that 27 states in Nigeria did not attract any foreign investments during the first nine months of 2023. This slight decrease from the first half of the year, where 28 states recorded zero foreign investments, raises concerns about the investment climate in these states.

The list of the 27 states that attracted no foreign investments in the first nine months of 2023:

  1. Bauchi
  2. Bayelsa
  3. Benue
  4. Borno
  5. Cross River
  6. Delta
  7. Ebonyi
  8. Edo
  9. Enugu
  10. Gombe
  11. Imo
  12. Jigawa
  13. Kaduna
  14. Kano
  15. Katsina
  16. Kebbi
  17. Kogi
  18. Kwara
  19. Nasarawa
  20. Osun
  21. Oyo
  22. Plateau
  23. Rivers
  24. Sokoto
  25. Taraba
  26. Yobe
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‘Just Following Orders’: ICPC Defends Controversial Detention Of El-Rufai!.

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has firmly defended its prosecution and detention of former Kaduna State Governor, Nasir El-Rufai, dismissing allegations of political bias. ICPC spokesperson John Odey stated that the commission is acting strictly under court-ordered mandates and remains unfazed by the El-Rufai Support Group Association’s (ERSGA) decision to hire a Washington-based advocacy firm, Vanguard Africa, to challenge the proceedings internationally.....KINDLY READ THE FULL STORY HERE▶

The ERSGA, which maintains the former governor’s innocence, argues that the legal actions against him represent a troubling trend of weaponizing due process to sideline opposition figures ahead of the 2027 elections. In response, the ICPC reiterated that it is a non-political, law-enforcement body that pursues corruption allegations—including those against high-profile figures—solely based on its governing Act and judicial authorization. El-Rufai currently faces separate charges from both the ICPC and the Department of State Services (DSS) regarding allegations of financial impropriety and unauthorized communications surveillance.

  • ICPC Position: The commission maintains that its detention of Nasir El-Rufai is entirely lawful, authorized by a court remand order, and devoid of political motivation.

  • International Challenge: The El-Rufai Support Group Association (ERSGA) has engaged Washington-based Vanguard Africa to lobby U.S. officials and institutions, claiming the case reflects a broader erosion of the rule of law in Nigeria.

  • Commission’s Response: ICPC spokesperson John Odey dismissed the international advocacy effort, emphasizing that the agency follows statutory procedures regardless of an individual’s political status.

  • The Charges: El-Rufai faces ongoing legal action from the ICPC over alleged fraud and abuse of office, as well as separate charges from the DSS regarding alleged communication wiretapping.

Option 3: Analytical Overview

The legal entanglement of former Kaduna Governor Nasir El-Rufai has escalated into an international dispute. While the ICPC asserts that it is merely performing its statutory duties—citing a court remand order as the basis for its custody of the former governor—his supporters have characterized the move as a political crackdown.

By retaining the Washington-based firm Vanguard Africa, the El-Rufai Support Group Association is attempting to bring international scrutiny to Nigeria’s judicial processes, framing the prosecution as a symptom of a systemic threat to the nation’s democratic health. Conversely, the ICPC maintains that its operations are neutral and strictly bound by the anti-graft Act, viewing the international outreach as an external matter that does not impact their commitment to prosecuting alleged financial crimes and misconduct.

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Judiciary Under Fire: Momodu Demands Ruthless Purge Of Judges Issuing ‘Rascally’ Rulings!.

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Dele Momodu, a prominent member of the African Democratic Congress (ADC), recently declared that the judiciary must be prevented from sabotaging Nigeria’s democratic stability. Speaking on Channels Television’s Sunrise Daily, Momodu’s comments followed a Federal High Court ruling by Justice Peter Lifu, which ordered INEC to deregister the ADC and several other parties. The Court of Appeal subsequently stayed the execution of this ruling, labeling the initial judgment as the “highest form of judicial impertinence”.....KINDLY READ THE FULL STORY HERE▶

Momodu advocated for formal sanctions against judges who issue what he termed “rascally judgments,” arguing that judicial officers who ignore established legal procedures or orders from superior courts must face accountability to preserve public trust in the rule of law.

In a separate discussion on the Naija Unfiltered Podcast, Momodu revealed that he had previously encouraged Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), to form a political alliance with former Vice President Atiku Abubakar. Momodu noted that he urged Obi to work with Atiku—who originally helped elevate Obi to national prominence—by citing historical examples of leaders who ascended to the presidency after serving as deputies, such as former Ghanaian President John Mahama, Goodluck Jonathan, and U.S. President Joe Biden.

However, Momodu stated that Obi rejected this advice, maintaining that his own popularity surpassed that of the former Vice President. Momodu also recounted that when Atiku selected Obi as his running mate for the 2019 election, he remained steadfast in his choice despite significant opposition from party governors.

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Kwankwaso Fires Back! Opposition Brews Within NDC Over Controversial New Policy!.

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Senator Rabiu Musa Kwankwaso, the Nigeria Democratic Congress (NDC) vice-presidential candidate, has publicly endorsed the party’s new anti-defection indemnity form, calling it a positive step for the organization. Speaking through the Kwankwasiyya movement’s spokesperson, Habibu Saleh Mohammed, Kwankwaso emphasized that this policy is essential for fostering internal discipline and upholding the constitutional mandate linked to party-sponsored elected officials.....KINDLY READ THE FULL STORY HERE▶

The NDC implemented this loyalty affidavit specifically to curb the trend of elected representatives abandoning the party that secured their victory. Party National Chairman, Moses Cleopas, explained that this initiative is a direct response to the persistent issue of politicians defecting after utilizing a party’s platform to achieve office.

Kwankwaso’s camp maintains that this requirement aligns with the spirit of the Nigerian Constitution, which discourages officials from deserting their sponsoring parties. “What the party is trying to do is only imposing the position of the constitution of the Federal Republic of Nigeria. To a larger extent, this is what we’ve been talking about,” Mohammed stated.

Mohammed further noted that the Kwankwasiyya movement is no stranger to the damage caused by defections, citing the departure of former Kano State governor Abdullahi Ganduje as a prime example. Ultimately, the movement believes this new NDC measure will prevent politicians from viewing party platforms merely as temporary vehicles for electoral success.

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