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BEYOND THE NUMBERS: Why The Dollar’s Latest Move Is Sending Shockwaves Through The Economy.
As of Wednesday, June 24, 2026, the parallel market—often referred to as the “black market”—reported the dollar trading at a selling rate of ₦1400 and a buying rate of ₦1385, according to Bureau De Change (BDC) sources. For comparison, the Central Bank of Nigeria (CBN) reported rates ranging between a low of ₦1368 and a high of ₦1392. It is important to note that the CBN does not officially recognize parallel market transactions and advises individuals to conduct all foreign exchange business through authorized commercial banks. Please be aware that actual market rates can fluctuate and may differ from those listed here.....KINDLY READ THE FULL STORY HERE▶
On June 24, 2026, the black market dollar-to-naira exchange rate stood at ₦1385 for buying and ₦1400 for selling. Conversely, the official CBN rates for the same day ranged from ₦1368 to ₦1392. While the CBN maintains that all forex operations should be handled via banks, market prices remain subject to change and may vary depending on the specific location or dealer.
Option 3: Formal and Policy-Focused Market data for June 24, 2026, indicates that the dollar exchanged for ₦1385 (buying) and ₦1400 (selling) within the parallel market. During this same period, official CBN data reflected rates between ₦1368 and ₦1392. The Central Bank of Nigeria continues to emphasize that it does not recognize the parallel market, recommending that all foreign exchange activities be processed through licensed financial institutions. As market conditions are volatile, readers should expect potential variations in the rates offered by individual dealers.
Peoples Redemption Party (PRP) presidential candidate and former Cross River State Governor, Donald Duke, has called on opposition parties to form a united front to unseat President Bola Tinubu in the 2027 elections. In an interview with Symfoni TV, Duke cautioned that Tinubu is an exceptional and formidable political opponent who cannot be defeated individually.....KINDLY READ THE FULL STORY HERE▶
Emphasizing that the political framework inherently favors the incumbent All Progressives Congress (APC) because they control state power and law enforcement apparatuses, Duke warned that division and ego among opposition figures effectively work against their own interests. Using a striking analogy, he described taking on the incumbent as trying to fight a lion that has been given horns using only a knife and fork, concluding that the opposition would end up as “dinner” without a cohesive, unified approach.
The Federal Government has issued an urgent flood warning through the National Flood Early Warning Systems Centre, cautioning that 915 communities spread across 19 states and the Federal Capital Territory (FCT) face severe flooding risks from August 27 to September 9, 2026. In addition to these critical-risk zones, the centre flagged 429 communities in seven states as high-risk and 656 communities across 13 states under a moderate flood-risk watch.....KINDLY READ THE FULL STORY HERE▶
The 19 states categorized under the critical-risk threat are Kogi, Benue, Rivers, Edo, Delta, Cross River, Bayelsa, Akwa Ibom, Abia, Anambra, Ebonyi, Enugu, Imo, Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo, encompassing major cities like Lokoja, Port Harcourt, Lagos, Ibadan, and Onitsha. According to Usman Abdullahi Bokani, Director of the Erosion, Flood and Coastal Zone Management Department, this impending threat is driven by factors such as continuous rainfall, saturated soils, rapid surface runoff, strained drainage networks, and swelling river levels. Residents in these vulnerable areas have been strongly advised to ready themselves for potential emergencies and identify secure evacuation routes.
African Action Congress (AAC) 2027 presidential candidate Omoyele Sowore has cautioned citizens against falling for former Vice President Atiku Abubakar’s stance on reversing the fuel subsidy. Atiku, who is running under the African Democratic Congress (ADC), previously pledged to restore the subsidy if elected, arguing that the current administration’s removal of the policy has brought no advantages to the country.....KINDLY READ THE FULL STORY HERE▶
In response via an X post, Sowore rejected Atiku’s remarks, asserting that the AAC remains the sole political party that has steadfastly opposed the subsidy removal from the outset. He accused Atiku and other establishment politicians of shifting their stances based on political convenience and foreign capitalist interests, stating that they should not be permitted to rewrite history or masquerade as genuine opposition figures. Sowore further claimed that it was the AAC’s unwavering position at the Nigerian Bar Association Annual General Conference in Port Harcourt that actually rattled the Tinubu government, rather than any actions from Atiku’s camp.
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