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Dollar Soars On Parallel Market As Naira Faces Fresh Pressure – September 1 Update
The exchange rate between the United States dollar (USD) and the Nigerian naira (NGN) in the parallel market, commonly referred to as the black market or Aboki FX, reflected mixed movements on Sunday, August 31, 2025.....KINDLY READ THE FULL STORY HERE▶
According to market sources within the Bureau De Change (BDC) network, traders in Lagos purchased dollars at ₦1,545 and sold them at ₦1,527. This rate continues to highlight the disparity between unofficial market prices and the official benchmark set by the Central Bank of Nigeria (CBN).
The CBN maintains that it does not recognize the parallel market, urging individuals and businesses seeking foreign exchange to transact through regulated banking channels.
For reference, CBN data on the same date placed the official exchange band between ₦1,525 and ₦1,534 per dollar. However, analysts note that prices available in the open market may vary depending on location, volume, and dealer negotiations.
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Nigeria Cleric Egbaji Regains Freedom After Two Years in Detention, FG Commended.
Bamidele Kehinde, Director of Dynamic Ambassadors for Social Orientation Initiatives and the City Transformation Project, has expressed appreciation to the Federal Government of Nigeria for its efforts in securing the release of Pastor Benjamin Egbaji, who was reportedly held in detention in the Republic of Benin for over two years under difficult conditions.....KINDLY READ THE FULL STORY HERE▶
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Recruitment Drama: 360,923 Candidates Fail Paramilitary Selection Process.
The Civil Defence, Correctional, Fire, and Immigration Services Board (CDCFIB) has provided an update on its ongoing nationwide recruitment exercise.....KINDLY READ THE FULL STORY HERE▶
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NAF Addresses Sambisa Strike, Insists Mission Was Carefully Targeted.
The Nigerian Air Force (NAF) has confirmed that its Air Component of Operation HADIN KAI conducted precise airstrikes in the Yuwe axis of the Sambisa Forest, resulting in the elimination of several terrorist elements on Monday.....KINDLY READ THE FULL STORY HERE▶
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