Economy
Breaking: Bolaji Agbede Replaces Late Wigwe As Access Holdings Acting GCEO
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Access Holdings Plc has announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer.
This follows the death of its former Group Chief Executive Officer, Dr. Herbert Wigwe in a helicopter crash alongside his wife, son, and a former chairman of the Nigeria Exchange Group, Abimboloa Ogunbanjo on Friday in California, United States.
A statement made by the company’s Board of Directors and dated February 12, 2024, stated that the appointment was subject to the approval of the Central Bank of Nigeria.
“Further to its announcement dated February 11, 2024, the Board of Directors of Access Holdings Plc (‘the Company’) has today announced the appointment of Ms Bolaji Agbede as the Acting Group Chief Executive Officer of the Company following the unfortunate demise of its former Group Chief Executive Officer, Dr Herbert Wigwe, on February 9, 2024.
“The appointment is subject to the approval of the Central Bank of Nigeria,” the statement signed by the Group Company Secretary, Sunday Ekwochi, read in part.
Until her recent appointment, Ms Agbede was the company’s most senior founding Executive Director in charge of business support.
She has nearly three decades of professional experience cutting across banking and business consultancy services. She commenced her professional career in 1992 at Guaranty Trust Bank and served in various capacities within the commercial banking and operations functions rising to the position of manager in 2001.
Agbede joined Access Bank in 2003 as an assistant general manager and was responsible for managing the Bank’s portfolio of chemical trading companies.
She became the head of human resources for the Access Bank Group in 2010, overseeing the human capital development of the Group. She held the position until June 2022 when she was appointed the executive director of Access Holdings after the bank transitioned to a holding company.
The University of Lagos alumnus began her professional career at Guaranty Trust Bank (GTB), where she rose from executive trainee in 1992 to a managerial position in 2001. She was once GTB’s relationship manager and vault custodian.
Ms. Agbede subsequently served as the Chief Executive Officer of JKG Limited, a business consulting outfit, in 2003.
The Nigerian naira is opening the new trading week around the ₦1,300-per-dollar range, with the latest official Nigerian Foreign Exchange Market (NFEM) data showing a closing rate of about ₦1,337.29/$1 at the end of Friday’s session.
According to the Central Bank of Nigeria (CBN), the NFEM rate stood at ₦1,337.2873 per dollar on August 28, while the closing rate was ₦1,337.0000. The official NFEM rate is calculated using a volume-weighted average of transactions in the market.
The naira had strengthened during the previous week, moving from ₦1,349.99/$1 on August 24 to ₦1,337/$1 on August 28, representing an appreciation of about 0.96 percent.
In the parallel market, the dollar was quoted at about ₦1,400 on Friday, according to market data published by AbokiFX. This was ₦7 lower than the ₦1,407/$1 recorded the previous day.
The latest parallel-market rate leaves a gap of roughly ₦63 between the informal market and the official NFEM rate.
Meanwhile, a live indicative USD/NGN rate available early Monday puts the dollar around ₦1,346.78, although this should not be confused with the official NFEM closing rate, which reflects the most recent completed trading session.
Market data also showed continued strength in foreign exchange liquidity. NFEM turnover reached $1.06 billion in one trading session last week, while Nigeria’s foreign reserves continued to provide support for the naira.
For today, Monday, August 31, 2026, the dollar-to-naira rate is therefore around ₦1,337/$1 at the latest official NFEM close, while the parallel-market rate is around ₦1,400/$1. Rates may change as trading activity resumes and demand and supply conditions evolve.
It is important to note that rates offered by banks, Bureau de Change operators and other dealers may differ from the published NFEM and parallel-market reference rates because of transaction margins and market conditions.
Akpo Ojo
Nigeria recorded a staggering$947 million in remittance inflows through international money transfer operators in July 2026, the highest monthly inflow ever recorded through formal channels and approaching the $1 billion monthly target set by the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso.
International monetary transfer operators inflows reached $3.8 billion in the first seven months of 2026 (50.2 percent)!higher than the same period in 2025, pointing to a significant strengthening in flows through formal channels.
The increase, the apex bank explained, follows a series of reforms by the CBN aimed at making formal remittance channels more competitive, transparent and accessible.
These include a move to a more market-determined exchange rate, reforms to the regulatory framework for international monetary transfer operators, and the introduction of the Non-Resident Bank Verification Number (NRBVN), alongside closer engagement with international monetary transfer operators, banks, and the Nigerian diaspora communities.
More recently, the CBN said, it has strengthened requirements for remittance transactions to be routed through designated settlement accounts with authorised dealer banks.
The significance extends beyond the headline figure. Increasing diaspora flows through formal channels boosts foreign-exchange liquidity and transparency, supports households and investment, and strengthens Nigeria’s external financing position.
“When we set a clear ambition to reach US$1 billion a month in remittance inflows through formal channels nearly two years ago, some people thought we were dreaming. At $947 million in July, we are now approaching that milestone,” Governor Cardoso said.
While individual monthly figures will naturally vary, the CBN’s focus is on the broader trajectory and on sustaining the shift towards formal channels.
The significant increase in inflows recorded so far in 2026, points to the growing impact of reforms designed to make formal remittance channels more competitive, accessible and transparent.
The CBN is building on this momentum by deepening engagement with Nigerian diaspora communities and financial-sector partners across key remittance corridors.
“As part of its wider international engagements, the bank will continue to use opportunities in major global financial centres to engage diaspora communities, international monetary transfer operators, banks and other stakeholders to reduce friction, widen access and bring a greater share of remittance flows into formal channels.Governor,” Cardoso added:
“July is an important marker, but our focus is not on a single month. It is on creating the conditions for sustained growth in formal remittances.
“We expect to keep seeing improvement and believe Nigeria can reach and ultimately sustain monthly inflows above US$1 billion.”
The Black Market Dollar-to-Naira Exchange Rate for 29th August 2026 Can Be Accessed Below.
IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
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The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
The exchange rate fluctuates hourly based on the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 29th August 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1407 and buy at ₦1395 on Saturday, 29th August, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1407
Buying Rate ₦1395
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1339
Lowest Rate ₦1335
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See Dollar to Naira exchange rate today, August 31, 2026
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