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Dollar Hits ₦1,500 At Black Market As Naira Struggles.

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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▶

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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.

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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.

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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.

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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.

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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.

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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▶

Frank made the appeal on Tuesday while reacting to claims by controversial Islamic cleric Ahmad Gumi that the federal government is aware of the identities and locations of bandits operating in the country.

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In a statement, Frank said the Nigerian government must address the allegation, noting that the continued rise in kidnappings and killings has heightened public concern over the worsening security situation.

“If it is true that the government knows who these bandits are, where they are located, and even their camps, Nigerians deserve to know why decisive action has not been taken,” he said.

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According to him, the increasing cases of abductions and violent attacks across the country raise serious questions if authorities truly possess such information but have failed to act on it.

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Frank also urged the United States to exercise caution in its security collaboration with the administration of President Bola Tinubu, particularly in the area of intelligence sharing.

“I am calling on the United States government to be cautious in its engagement with the current Nigerian administration. The U.S. should suspend intelligence sharing and other forms of security cooperation with the Nigerian government and its security chiefs,” he said.

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He further noted that despite international assistance in the fight against insurgency and banditry, Nigerian soldiers continue to lose their lives in large numbers during security operations.

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“Many Nigerian soldiers are dying even with the equipment and support provided by the United States and other countries. With the level of international backing Nigeria has received, the fight against insecurity should have recorded more progress,” he added.

Frank also appealed to former U.S. President Donald Trump to take a firm stance against terrorist groups operating in Nigeria.

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“We appeal to President Donald Trump to take a decisive stand. If the United States truly wants to help Nigeria defeat terrorism and restore stability, it must be prepared to act firmly against the groups responsible for the violence,” he said.

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He added that the United States could also support Nigeria by helping to strengthen democratic institutions and ensure credible electoral processes.

“If the U.S. truly wants to assist Nigeria, it should support efforts that promote peace, security, and credible democracy. That is how Nigeria can move toward stability and prosperity,” he stated.

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Appeal Court Ruling Offers Fresh Chance for PDP Unity – Akpoti-Uduaghan.

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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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In a statement issued on Tuesday, the lawmaker described the ruling as a chance for the party to move past internal disputes and concentrate on rebuilding its structures ahead of the 2027 general elections.

Akpoti-Uduaghan said the PDP must shift its focus from court battles and disagreements to strengthening unity within the party and preparing for upcoming elections.

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“The Court of Appeal has delivered its judgment, and as a party that respects the rule of law, it is time to move beyond litigation and concentrate on reconciliation and rebuilding,” she said.

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She warned that prolonged legal disputes and internal conflicts could weaken the party’s ability to function effectively as a political platform for its members.

The senator also cautioned that ongoing disagreements among party leaders could negatively impact grassroots members planning to contest elections under the PDP platform.

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“Our members across the country—those aspiring to positions in State Houses of Assembly, the House of Representatives, the Senate, governorship seats, and even the presidency—should not become casualties of prolonged disagreements among leaders,” she said.

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Akpoti-Uduaghan further emphasized the need for the party to conduct an inclusive and transparent national convention that aligns with the guidelines of the Independent National Electoral Commission (INEC).

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According to her, such a process would help rebuild trust among party members and reinforce the party’s democratic values.

“Nigerians are watching, and this is the time for the PDP to demonstrate that it remains united, inclusive, and capable of providing leadership for the country,” she added.

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She reaffirmed her commitment to the unity and progress of the party and encouraged members nationwide to remain optimistic while supporting efforts to rebuild and reposition the PDP ahead of the 2027 elections.

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Sachet Water Producers Hike ‘Pure Water’ Price Per Bag.

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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▶

Under the new adjustment, a bag of sachet water that previously sold for ₦220 will now have a minimum price of ₦300 across the state.

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In a statement released on Tuesday, the association’s Public Relations Officer in Kano, Anas Idris Hassan, said the increase became unavoidable due to the sharp rise in the cost of key materials used in production.

He explained that essential inputs have become significantly more expensive, making it difficult for producers to continue selling at the previous rate. According to him, the cost of printing film used for packaging sachet water has climbed to about ₦3,700.

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Hassan also noted that the price of gas and fuel used to power production machines has surged, reaching about ₦1,500 per litre.

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Another major challenge, he said, is the persistent problem of unstable electricity supply in the state. As a result, most factories now depend heavily on generators to keep their operations running, further increasing production costs.

He described the price adjustment as a necessary step to ensure producers can continue supplying safe drinking water to residents.

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Speaking on the development, the association’s Chairman, Ahmad Bala Hudu, said the decision was taken to prevent the possible collapse of the sachet water production industry in Kano.

Hudu explained that many producers have been struggling to keep their businesses afloat due to the rising cost of raw materials and energy.

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Despite the increase, he warned producers not to compromise on the quality of water supplied to consumers, stressing that all members must strictly follow approved purification standards.

According to him, reverse osmosis systems and other water treatment processes must be properly maintained to guarantee the safety of the drinking water produced.

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He further revealed that the association is working with health authorities to carry out regular inspections of sachet water factories across the state.

Hudu warned that any producer found violating health regulations or ignoring approved standards would be reported to the appropriate authorities.

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The association also appealed to Kano residents to understand the reason behind the price adjustment, noting that producers are facing growing operational costs.

It added that the decision comes at a sensitive period, as many residents are observing the holy month of Ramadan, when demand for drinking water usually increases.

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