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Dollar Soars On Parallel Market As Naira Faces Fresh Pressure – September 1 Update

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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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CAMPAIGN FUNDS BOMBSHELL! Abure Declares: “Aisha Yesufu Was In Charge of Peter Obi’s Account!”

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Former Labour Party (LP) National Chairman, Julius Abure, has firmly rejected claims of financial mismanagement during his tenure. During a recent appearance on Channels Television’s Sunrise Daily, Abure clarified that campaign donations were not deposited into the party’s accounts.....KINDLY READ THE FULL STORY HERE▶

  • Separate Campaign Funding: Abure explained that Peter Obi, the party’s former presidential candidate, preferred to maintain a distinct account for campaign donations and insisted on appointing specific individuals to manage those funds.

  • Responsibility for Funds: Abure stated that activist Aisha Yesufu was a signatory to this account and asserted that she, along with Ighodalo, held responsibility for the administration of the campaign funds, noting that Yesufu has previously acknowledged that these donations were not channeled to the party.

  • Focus on Elections: Emphasizing the party’s priorities, Abure stated that his leadership was focused on campaign success and winning the election, rather than the administration of those specific funds.

  • Leadership Dispute: Abure criticized the Independent National Electoral Commission (INEC) for listing the group led by Senator Nenadi Usman on its official website, labeling Usman as an “interloper” who unlawfully seized his office.

  • Internal Conflict: Maintaining his stance from two weeks prior, Abure blamed Peter Obi and Governor Alex Otti for fueling the party’s leadership crisis by backing the caretaker committee formed in Umuahia, which he claims destabilized a previously peaceful administration.

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NO RETREAT, NO SURRENDER: Enekweizu Reassures NDC Candidates Amidst Deregistration Chaos!.

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Ikenna Enekweizu, the National Secretary of the Nigeria Democratic Congress (NDC), has stated that all of the party’s candidates will appear on the ballot for the 2027 elections, notwithstanding a recent court ruling that nullified the party’s registration.....KINDLY READ THE FULL STORY HERE▶

  • A Federal High Court in Lokoja, presided over by Justice Isah Dashen, voided a previous judgment that had mandated the Independent National Electoral Commission (INEC) to register the NDC.

  • The court determined that the prior verdict, issued on December 10, 2025, was constitutionally defective because it was made without hearing from all necessary parties.

  • In an interview on Channels Television, Enekweizu argued that the timing of the ruling was intended to prevent the party from obtaining the codes required to upload candidate names to the INEC portal.

  • Enekweizu reassured party members and supporters that they have “nothing to fear,” asserting that the NDC will obtain the necessary codes, upload their candidates, and participate in the 2027 elections.

  • He also expressed strong criticism of the current government, citing issues such as insecurity, hunger, and failure as reasons for his party’s determination to contest the elections.

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The Jobless Reality: MTN Chairman Shatters Myths, Says Deporting Foreigners Won’t Save South African Jobs!.

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MTN Group Chairman Mcebisi Jonas has denounced the ongoing intimidation of foreign nationals in South Africa. He asserts that the nation’s socio-economic crises are the result of governance failures rather than the presence of immigrants.....KINDLY READ THE FULL STORY HERE▶

  • Jonas, speaking at the funeral of activist Thokozani Damasane, argued that politicians are scapegoating foreign nationals to exploit public frustration.

  • He maintained that issues such as unemployment, corruption, and inequality are structural and would persist even if all foreigners were to leave the country.

  • Jonas emphasized that the core issues are rooted in poor governance, specifically citing the state’s inability to manage borders, enforce laws, provide quality education, and handle immigration.

  • He criticized politicians who lack credibility for leading anti-foreigner movements to divert attention from their own failure to address the country’s real challenges.

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