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Dollar Hits ₦1,500 At Black Market As Naira Struggles.
According to Nivo News, the dollar-to-naira exchange rate at the parallel market, commonly referred to as the black market, reflects continued volatility as traders adjust to prevailing forex conditions.....KINDLY READ THE FULL STORY HERE▶
Checks within the Lagos parallel market indicate that on Wednesday, January 14, currency dealers sold the United States dollar at ₦1,500, while the buying rate stood at ₦1,482. These figures were obtained from operators at Bureau De Change outlets who monitor daily movements in the unofficial foreign exchange market.
Market watchers note that rates at the parallel market often differ from official figures due to demand and supply pressures, as well as location-based pricing. As a result, exchange values may vary slightly depending on the dealer and transaction point.
Meanwhile, the Central Bank of Nigeria has maintained its stance against the use of the black market for foreign exchange transactions, reiterating that it does not recognize the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to conduct transactions through licensed commercial banks.
At the official window, the dollar-to-naira exchange rate recorded a highest rate of ₦1,421 and a lowest rate of ₦1,419, reflecting relative stability compared to the wider gap seen in the parallel market.
Analysts continue to caution that foreign exchange rates remain fluid and subject to change, emphasizing that actual buying or selling prices may differ from published figures depending on market dynamics.
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Timi Frank Urges U.S. To Suspend Security Cooperation With Nigeria Over Gumi Issue.
A former Deputy National Secretary of the All Progressives Congress (APC), Timi Frank, has called on the United States government to halt its security cooperation with Nigeria.....KINDLY READ THE FULL STORY HERE▶
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Appeal Court Ruling Offers Fresh Chance for PDP Unity – Akpoti-Uduaghan.
Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has called on leaders and members of the Peoples Democratic Party (PDP) to embrace reconciliation and unity following the recent Court of Appeal judgment on the party’s national convention.....KINDLY READ THE FULL STORY HERE▶
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Sachet Water Producers Hike ‘Pure Water’ Price Per Bag.
The Association of Table Water Producers in Kano State has announced a new price for sachet water, commonly known as “pure water,” citing rising production expenses.....KINDLY READ THE FULL STORY HERE▶
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