Connect with us

latest

CBN Warns Against Black Market: Dollar To Naira Exchange Rates Soar

Published

on

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.

latest

UNGA SHOWDOWN: Furious Obidients Demand Immediate Answers For Tinubu’s Three-Year Global Snub!

Published

on

The Obidient Movement has criticized President Bola Tinubu for his continuous absence from the United States and the United Nations General Assembly (UNGA), demanding that the government account for his failure to attend the global summit for three consecutive years.....KINDLY READ THE FULL STORY HERE▶

  • Global Snub Criticism: In a statement issued by its Media and Communications Directorate, the group questioned why President Tinubu chose to holiday in France and attend a private dinner with French President Emmanuel Macron instead of representing Nigeria at the UN summit.

  • Implications for Nigeria’s Image: The movement argued that Tinubu’s repeated absence projects a lack of seriousness regarding international diplomacy, noting that UNGA provides a crucial platform to advance national interests, engage global leaders, and address matters affecting Nigeria and Africa.

  • Demand for Transparency: Contrasting Tinubu’s European trip with French President Emmanuel Macron—who traveled to New York for UNGA—the group insisted that the administration must clarify its official engagements and provide clear facts regarding the decisions keeping the President away from the international assembly.

Continue Reading

latest

THE GREAT DEFECTION: Former Buhari Ally Babachir Lawal Breaks Silence, Shatters Opposition Lines With Surprise NDC Move!

Published

on

A former Secretary to the Government of the Federation (SGF), Babachir David Lawal, has officially defected to the Nigeria Democratic Congress (NDC).....KINDLY READ THE FULL STORY HERE▶

  • The Reception: Lawal was welcomed into the party by NDC National Leader, Senator Seriake Dickson, and members of the National Working Committee (NWC) on behalf of the party’s presidential candidate, Peter Obi, and his running mate, Rabiu Kwankwaso.

  • Past Departure: Earlier in the year, Lawal parted ways with the African Democratic Congress (ADC) following leadership disputes and allegations that their presidential primary was manipulated in favor of Atiku Abubakar.

  • Endorsing the Ticket: Explaining his move, Lawal urged patriotic Nigerians troubled by the country’s economic hardship, hunger, and insecurity to support the Obi-Kwankwaso ticket, looking forward to a successful celebration on May 29, 2027.

  • Party Leadership Praise: Senator Dickson lauded Lawal as an experienced politician and grassroots mobilizer, assigning him a leadership role to oversee NDC activities and campaigns across the North-Eastern zone.

Lawal expressed confidence that the NDC represents the genuine path forward for Nigeria, calling on citizens to partner with the movement to rescue the nation.

Continue Reading

latest

PRISON WARZONE: Fake Army General Brutally Ambushed And Attacked Behind Bars In Maximum Security Ikoyi Prison!

Published

on

Bolarinwa Abiodun, a convicted fake Nigerian Army general, was reportedly hospitalized following an alleged physical assault by correctional officers at the Ikoyi Correctional Centre in Lagos.....KINDLY READ THE FULL STORY HERE▶

  • According to an insider source, prison warders entered Bolarinwa’s cell while he was asleep, woke him up suddenly, and pushed him to the ground, causing him to fall.

  • Following the alleged altercation, he was rushed to the Military Hospital on Awolowo Road, Ikoyi, for medical attention and theatre evaluation.

  • A family source corroborated that relatives were later informed of the incident, claiming that Bolarinwa reported being severely beaten and subjected to physical abuse during a search for a mobile phone.

  • The family source also expressed deep safety concerns, alleging that this incident follows several previous attempts on his life.

Background on Conviction

Bolarinwa has been serving a prison sentence following his initial remand in April 2022 by the Economic and Financial Crimes Commission (EFCC).

  • He was arraigned before Justice Oluwatoyin Taiwo of the Special Offences Court in Ikeja on a 13-count charge encompassing forgery, possession of false documents, and obtaining money by false pretences amounting to ₦266.5 million.

  • The EFCC stated that Bolarinwa deceived Kodef Clearing Resources Limited by posing as a military general and claiming that former President Muhammadu Buhari had shortlisted him for appointment as Chief of Army Staff, extracting large sums to “facilitate” the role.

  • Investigators also recovered forged appointment letters, military identification cards, recommendations bearing former President Olusegun Obasanjo’s name, and several firearms from his Alagbado residence.

  • Although he initially pleaded not guilty, Bolarinwa changed his plea to “guilty” during court proceedings on July 7, 2022.

  • Justice Taiwo convicted him on all 13 counts, sentencing him to seven years’ imprisonment without the option of a fine, ordering asset forfeitures, and directing him to pay ₦20 million in restitution.

Continue Reading

Trending