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Economic Jitters: Dollar Soars to ₦1,605 as Lagos APC Gears Up for LG Elections

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What Is the Dollar to Naira Exchange Rate at the Black Market (Aboki FX)?....KINDLY READ THE FULL STORY HERE▶

Nigerians React As Lagos State Revenue Service Closes 34 Companies Over Unpaid Taxes Valued At N356.12 Million

Below is the black market (parallel market) exchange rate for the U.S. Dollar to Naira as of Wednesday, June 25, 2025. These are the rates at which you can exchange your dollars for naira.

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Black Market Dollar to Naira Exchange Rate Today (Aboki FX)

At the Lagos Parallel Market, also known as the Black Market, Bureau De Change (BDC) operators buy 1 USD at ₦1,590 and sell at ₦1,600, according to market sources.

Note: The Central Bank of Nigeria (CBN) does not officially recognize the black market. It has advised all forex transactions to be conducted through licensed financial institutions.


Summary of Exchange Rates – June 25, 2025

Dollar to Naira (USD to NGN) Exchange Rate
Black Market Buying Rate ₦1,590
Black Market Selling Rate ₦1,600
CBN Highest Rate ₦1,553
CBN Lowest Rate ₦1,548
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“Adeyanju Tells Nigerian Govt: Terrorists Deserve Death, Not Forgiveness”.

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Activist lawyer Deji Adeyanju has insisted that terrorists and their collaborators deserve the death penalty, not forgiveness.....KINDLY READ THE FULL STORY HERE▶

Adeyanju made the statement while urging the Federal Government to adopt a stricter approach in tackling terrorism. On his X page, he argued that anyone involved in terrorism—or those supporting them—should face capital punishment rather than leniency.

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He criticized what he described as the government’s tendency to show mercy toward terrorists, warning that such leniency could undermine national efforts to combat insecurity.

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Adeyanju called on authorities to end policies that appear to pardon or reintegrate terrorists, insisting that a firm and uncompromising stance is essential to deter violent extremism and protect citizens.

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“Terrorists and their sympathizers deserve death, not forgiveness. The Nigerian government must stop forgiving and romancing terrorism,” he wrote.

The comments come as Minister of Defence Christopher Musa assured Nigerians that terrorists and bandits are sustaining heavy losses in ongoing military operations. Speaking after a security briefing with President Bola Ahmed Tinubu at the Presidential Villa, Abuja, Musa said the Armed Forces had updated the President on the latest security situation and clarified what he described as “misleading interpretations” circulating in the media.

EFCC Affirms Intent To Prosecute Ex-Minister Agunloye Over Alleged $6 Billion Fraud

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“Lagos Residents Hit the Streets Over Constant Power Outages”.

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Residents of Lagos took to the streets on Friday to voice their frustration over persistent electricity outages, describing the state’s power supply as “epileptic” and unsustainable for both daily life and business operations.....KINDLY READ THE FULL STORY HERE▶

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A video shared widely on social media showed dozens of protesters, mostly youths, marching through the Fadeyi area, holding placards and chanting for consistent electricity.

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The demonstrators criticized what they called the collapse of the nation’s power sector, insisting that erratic electricity is disrupting livelihoods and making life increasingly difficult across Lagos.

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Placards carried by the protesters included messages such as:

  • “No More Estimated Billing”

  • “No More Epileptic Power Supply”

  • “No Light, No Life, No Nation”

  • “You’re Destroying Businesses; Give Us Regular Light”

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One protester shouted, “We are not asking for too much. Give us light!” as the march continued.

Local business owners highlighted the heavy toll of inconsistent electricity on their operations, noting that reliance on fuel-powered generators has driven up costs. A shop owner said, “We cannot continue like this. Every day we spend money on fuel because there is no electricity. Many small businesses are closing because they cannot cope.”

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The protest reflects growing public dissatisfaction with power supply in Lagos, with residents calling on authorities and electricity providers to ensure a stable and reliable service.

EFCC Affirms Intent To Prosecute Ex-Minister Agunloye Over Alleged $6 Billion Fraud

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“Ikeja Court Seizes Responsible Leaders Hotel Over Alleged Forex Fraud”.

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The Federal High Court in Lagos has ordered the temporary seizure of a multi-billion naira hotel linked to Edward Olutoke, Managing Director of the Ikeja Chamber of Commerce, Industry, and Agriculture, following allegations that the property was purchased with funds obtained through a fraudulent forex and investment scheme.....KINDLY READ THE FULL STORY HERE▶

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According to a statement by the Economic and Financial Crimes Commission (EFCC), Justice A.O. Owoeye, sitting at the Federal High Court in Ikoyi, Lagos, on Wednesday, March 12, 2026, ruled that the Responsible Leaders Hotel, located at 1 Ostra Close, Jobi Fele Way, Alausa, Ikeja, be temporarily handed over to the government. The property is valued at approximately ₦1.3 billion.

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The order followed an urgent application by the EFCC, presented by its lawyer, C.C. Okezie, who provided evidence suggesting the hotel was acquired through illicit means. The application was supported by an affidavit sworn by Obed Tanko, an EFCC investigator.

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According to the EFCC, Olutoke allegedly convinced numerous Nigerians to invest billions of naira in a capital-guaranteed forex trading and investment scheme, promising secure funds and high returns.

Nigerians React As Lagos State Revenue Service Closes 34 Companies Over Unpaid Taxes Valued At N356.12 Million

“The suspect allegedly obtained billions of naira from unsuspecting investors under the guise of operating a capital-guaranteed forex trading and investment scheme,” the commission said.

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Investigations revealed that neither Olutoke nor his company had the required legal permits to operate an investment business. Instead of trading the funds as promised, the EFCC claims the money was used to acquire expensive properties, including the Ikeja hotel.

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During the hearing, Okezie argued that the hotel should be seized as it was reasonably suspected to have been purchased with proceeds from unlawful activities. After reviewing the evidence, Justice Owoeye agreed, ruling that the asset should be temporarily taken over while the case proceeds.

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The judge also ordered the EFCC to publish the decision in a national newspaper, allowing anyone with a legal claim to the hotel to come forward and explain why the property should not ultimately be forfeited to the Federal Government of Nigeria.

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