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Naira Struggles As Dollar Trades At ₦1,480 In Black Market.
The exchange rate between the United States dollar and the Nigerian naira continued to draw attention on Friday as activities at the foreign exchange market reflected prevailing demand pressures. According to Nivo News, the naira traded weaker against the dollar at the parallel market, commonly referred to as the black market.....KINDLY READ THE FULL STORY HERE▶
Checks at the Lagos parallel market showed that the dollar was sold at ₦1,480, while buyers purchased the foreign currency at ₦1,478 as of Friday, January 2, 2026. Market operators at Bureau De Change outlets attributed the pricing to sustained demand for foreign exchange amid limited supply.
The disparity between the official and parallel markets remains evident, as data from the official window indicated that the Central Bank of Nigeria’s benchmark exchange rate ranged between ₦1,427 and ₦1,438 per dollar within the same trading period.
The apex bank has repeatedly reiterated that it does not recognise transactions carried out at the parallel market, advising individuals and businesses seeking foreign exchange to conduct such dealings through authorised financial institutions.
Currency analysts note that exchange rates may vary slightly depending on location and negotiation, as market prices are largely driven by demand, availability, and prevailing economic conditions.
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Kwara PDP Protests As Govt Moves To Reopen Robbery Case Against Saraki, Others.
The Peoples Democratic Party (PDP) in Kwara State has strongly opposed reported moves by the state government to revisit the alleged Offa robbery case involving former Governor Abubakar Bukola Saraki and others.....KINDLY READ THE FULL STORY HERE▶
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