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CBN Warns Against Black Market: Dollar To Naira Exchange Rates Soar
CBN Warns Against Black Market: Dollar To Naira Exchange Rates Soar....KINDLY READ THE FULL STORY HERE▶
Dollar to Naira Exchange Rate Today
What is the current Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? Check out the exchange rate for August 6th below. You can exchange your dollars for Naira at these rates.
Dollar to Naira Exchange Rate in the Black Market Today (Aboki Dollar Rate):
In the Lagos Parallel Market (Black Market), the exchange rate for a dollar to naira is as follows:
- Buying Rate: N1600
- Selling Rate: N1607 Source: Bureau De Change (BDC) operators on Tuesday, August 6, 2024.
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals needing Forex 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 | N1600 |
| Selling Rate | N1607 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
|---|---|
| Buying Rate | N1605 |
| Selling Rate | N1606 |
Please note that the rates at which you buy or sell Forex may differ from those mentioned here due to market fluctuations.
Naira Gains Strength Against US Dollar in the Official Market
The Nigerian currency, the Naira, appreciated in the official market, with a trading rate of ₦1,607.15 per US dollar.
Data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira improved by ₦9.93. This represents a 0.61% gain compared to the previous trading day on August 2, when the exchange rate was ₦1,617.08 to the dollar.
However, the total daily turnover decreased to 77.09 million dollars on Monday, down from 131.55 million dollars on August 2.
In the Investor’s and Exporter’s (I&E) window, the Naira fluctuated between ₦1,620.50 and ₦1,570.00 against the dollar.
Nigeria Customs Service (NCS) has recorded a historic breakthrough with the emergence of its first female pilot, Superintendent of Customs Nafisat Balogun, who recently earned a commercial multi-engine pilot licence in the United States.....KINDLY READ THE FULL STORY HERE▶
The achievement was celebrated by the Nigeria Customs Technical Hangar Service, marking a significant step in the agency’s drive to strengthen its aviation capacity for surveillance, logistics, and anti-smuggling operations.
At a ceremony attended by senior officers, the Managing Director of the Customs Technical Hangar Service, retired Comptroller of Customs Capt. Kuhi Mbaya, described the development as a landmark moment for the service.
He said Balogun’s transition from cabin crew to certified commercial pilot represents a major breakthrough for the Customs aviation unit and highlights the agency’s commitment to professional growth and inclusivity.
He added that the milestone reflects expanding opportunities within the Service as it continues to integrate air assets into its enforcement and border monitoring operations.
Balogun expressed gratitude for the support she received, noting that her journey required dedication and resilience, while pledging to apply her new skills in advancing the Customs mandate with professionalism and discipline.
The development has been widely described within the Service as an inspiration for greater female participation in technical and specialised roles.
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Osun 2026: APC Candidate Oyebamiji Pledges Inclusive Governance For Non-Indigenes, Interest Groups.
The All Progressives Congress (APC) governorship candidate in Osun State, Asiwaju Bola Oyebamiji (AMBO), has pledged to ensure inclusive governance by integrating non-indigenes and various interest groups if elected in the August 15, 2026 governorship election.....KINDLY READ THE FULL STORY HERE▶
He said his administration would operate a structured system that promotes participation and representation of all segments of society in governance.
The pledge was conveyed by a former lawmaker and ex-Special Adviser on Civic Engagement, Hon. Olatunbosun Oyintiloye, after he represented the candidate at an engagement with members of the Arewa community in Ibokun, Obokun Local Government Area.
Oyintiloye said the plan is aimed at strengthening the link between government and grassroots communities, ensuring public policies reflect citizens’ real needs.
He added that all groups would be actively involved in both policy formulation and implementation to drive development in the state.
Oyebamiji also promised continued engagement with farmers, traders, artisans, and non-indigene communities as key stakeholders in governance.
Responding, leaders of the Arewa community commended past inclusion efforts and pledged support for the APC candidate ahead of the election.
Barely a year after its inauguration in Akwa Ibom State, the African Democratic Congress (ADC) has been plunged into a deep factional crisis.....KINDLY READ THE FULL STORY HERE▶
Multiple factions are now locked in a struggle for control of the party, leaving members uncertain about the legitimate leadership structure.
One faction is led by John Akpanudodehe, a former National Secretary of the All Progressives Congress (APC), while another is headed by the embattled state chairman, Dick Duke.
Although the leader of a third faction could not be immediately confirmed, findings indicate that another group also exists within the party.
Sources further suggest that the Akpanudodehe-led faction is seeking to remove the current chairman through a recently held congress that has sparked controversy.
In response, Dick Duke convened a stakeholders’ meeting over the weekend, where he rejected the legitimacy of the said congress.
He said the party had formally written to the Independent National Electoral Commission (INEC) to distance itself from the exercise, citing a subsisting court order.
According to him, his tenure as state chairman is still valid until May, and any congress conducted before then would be unlawful.
Duke added that the party would only proceed with proper congresses after the expiration of his tenure and the resolution of legal issues, in line with due process.
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