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Black Market Dollar to Naira Exchange Rate for May 6, 2025

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As of today, May 6, 2025, the exchange rate for the Dollar to Naira in the black market, also known as the parallel market (Aboki fx), shows a buying rate of ₦1590 and a selling rate of ₦1598. This is according to Bureau De Change (BDC) sources in Lagos.....KINDLY READ THE FULL STORY HERE▶

For those looking to exchange dollars for Naira, these are the rates currently being observed in the parallel market. It is important to note that the Central Bank of Nigeria (CBN) does not recognize the black market and has advised individuals to engage with banks for any foreign exchange transactions.

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At the official CBN rates, the highest exchange rate for the Dollar to Naira stands at ₦1606, with the lowest recorded at ₦1600. However, it is important to be aware that actual exchange rates may vary based on specific transactions and locations.

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Wike-Backed PDP Faction Vows To Field Presidential Candidate.

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A faction of the Peoples Democratic Party (PDP) aligned with the Minister of the Federal Capital Territory, Nyesom Wike, has declared its intention to present a presidential candidate in the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

This comes despite Wike’s open endorsement of President Bola Ahmed Tinubu for re-election, as well as his recent comments suggesting the party may struggle to fund a nationwide presidential campaign.

However, speaking in an interview, the PDP National Publicity Secretary, Jungudo Haruna Mohammed, dismissed claims that the party would not field a candidate, insisting that preparations are ongoing.

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He said the party’s National Executive Committee meeting scheduled for Monday will address key issues such as zoning arrangements and nomination fees.

According to him, “We are going to have a presidential candidate. The NEC will decide the zoning formula. Our goal is to win the election and take power from the APC.”

Responding to questions about Wike’s support for President Tinubu, he argued that the minister was speaking in his personal capacity and not on behalf of the PDP.

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He stressed that there is a clear separation between Wike’s role as a federal appointee and his status within the party, adding that the PDP’s decisions rest with its leadership structures.

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Ibadan Elders Warn Olubadan Over Rift With Makinde: “Tread Carefully”.

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The Balogun of Ibadanland, Oba Tajudeen Ajibola, has revealed that Ibadan elders have stepped into the ongoing tension between Oyo State Governor Seyi Makinde and the Olubadan of Ibadanland, Oba Rashidi Ladoja.....KINDLY READ THE FULL STORY HERE▶

The development follows rising political controversy in the state after former Ekiti State Governor Ayodele Fayose alleged that Makinde was plotting against the Olubadan, a claim denied by both the state government and the palace.

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Amid the growing tension, some lawmakers also distanced themselves from alleged impeachment discussions involving the governor, insisting they were not part of any destabilising plot.

Speaking with journalists in Ibadan, Oba Ajibola said elders in the city had intervened to calm the situation and urged all sides to avoid actions that could disrupt peace in the state.

He stressed that the Olubadan remains a highly respected traditional ruler and should not be drawn into political disputes.

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Ajibola advised Oba Ladoja to remain neutral and act as a father figure to all politicians, regardless of party affiliation, warning that the dignity of the throne must be protected at all times.

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Outrage As Lagos Clears Police Officers, Developer In Owode Onirin Deaths.

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The Lagos State Ministry of Justice has released four police officers and a developer, Abiodun Ariori, who were accused in connection with the killing of six traders in the Owode Onirin area of Kosofe, Lagos State.....KINDLY READ THE FULL STORY HERE▶

The decision followed legal advice from the Directorate of Public Prosecutions (DPP), which concluded that the officers acted in self-defence during a mob attack.

In the advice signed by DPP Babajide Martins, the office stated that investigators failed to provide sufficient evidence, including autopsy and ballistic reports, to support criminal charges such as manslaughter.

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It further stated that available facts did not clearly link the suspects to the deaths, while noting that the officers were acting to protect themselves during the chaos. The DPP also said the developer was not physically present at the scene when the incident occurred.

The incident reportedly happened during the enforcement of a disputed court order over a land area occupied by traders, which later turned violent and led to the deaths.

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However, the Nigeria Police Force disagreed with the legal advice, insisting that autopsy and ballistic findings were strong enough to prosecute the suspects.

Human rights lawyer, Femi Falana, who represents the victims’ families, said the case is not over, adding that additional evidence would be submitted to the DPP while also pursuing compensation through a civil suit.

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