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Economy

Naira To Catapult To N10K Per Dollar – Economist Warns

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Ace economist and chieftain of the Labour Party, Pat Utomi, has issued a stern warning that the naira may fall to N10,000 per dollar if nothing is done urgently.

Utomi gave this warning on Sunday at an event organised by activist Dr Moses Paul to mark the first anniversary of the 2023 presidential election.

He said the country was going down very fast because those in authority seem to be far from the people.

“Our country is dying before us; it is dying because the people don’t believe that those in authority are representing them and those in power don’t feel the people.

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“They don’t act for the people and everything is running away. Going down very fast.

“This is like claiming this moment and acting like citizens to make this country work right now.

“We must not wait for the next election (2027) before we act, we need to take back our country right now.

“We need to take charge now because we know what to do that they don’t know what to do. If we don’t create our own security system, there will be no production, and if there is no production, the naira will reach N10,000 per dollar, I assure you.” he said.

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Economy

See Black Market Dollar To Naira Exchange Rate Today 5th September 2026

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The Black Market Dollar-to-Naira Exchange Rate for 5th September 2026 Can Be Accessed Below.
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.

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, 5th September 2026?

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The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1405 and buy at ₦1410 on Saturday, 5th September, 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 ₦1405
Buying Rate ₦1410
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1321
Lowest Rate ₦1326

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Economy

Nigeria’s External Reserves Hit $54bn, Highest Since 2008

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Nigeria’s external reserves have risen to $54.08 billion, reaching their highest level in nearly 18 years and moving further above the Central Bank of Nigeria’s (CBN) projection for the year.

Latest CBN data showed that the reserves last stood around the $54 billion mark on December 22, 2008, when they reached $54.21 billion.

The latest figure represents an increase of about $1.42 billion from the $52.66 billion recorded on August 19.

Since the beginning of the year, the reserves have gained approximately $8.52 billion, rising from $45.56 billion on January 2. This represents an increase of about 18.7 per cent in just over eight months.

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The reserves crossed the $53 billion threshold on August 24, reaching $53.11 billion, and continued their upward trajectory to $53.30 billion on August 26.

The figure rose further to $53.51 billion on August 28 and $53.81 billion on August 31.

In September, the reserves increased from $53.90 billion on September 1 to $53.99 billion on September 2, before reaching the latest $54.08 billion on September 3.

The current reserve position is about $3.04 billion above the CBN’s projected $51.04 billion target for external reserves by the end of 2026.

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CBN Governor, Olayemi Cardoso, had attributed the sustained increase to stronger foreign-exchange inflows, including receipts from crude-oil-related taxes and third-party inflows.

The rise in the reserves has also coincided with improved conditions in the foreign exchange market.

The naira appreciated to N1,315/$ at the official market on Thursday, its strongest level in about two years, amid increased foreign-exchange liquidity.

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See Photos As US Releases $1 Coins Featuring President Trump

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The United States Mint has released 250,000 $1 coins featuring the likeness of President Donald Trump to commemorate the country’s 250th anniversary.

The coins, released on Wednesday, are legal tender and have also entered circulation, meaning members of the public could receive them as change when making cash payments.

US Mint, in a post on its website, said the coin features a portrait of Trump designed by the United States Mint Chief Engraver, Joseph Menna, and inspired by an official White House photograph by Daniel Torok.

“The reverse (tails) design features the Presidential Seal, which shows an eagle holding an olive branch and a bundle of arrows, with a shield on its breast and a banner inscribed ‘E PLURIBUS UNUM’ in its beak.

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“The shield contains the additional inscription ‘250’ to honor the Semiquincentennial of the United States. The additional inscriptions are ‘UNITED STATES OF AMERICA’ and ‘ONE DOLLAR.’

The coins have a gold-like finish but are made from non-precious metals. They are being minted in Philadelphia.

The Mint is selling the coins in rolls of 25 and bags of 100. A roll costs $61, while a bag costs $154.50.

Some special-issue coins were randomly included in the rolls and bags. According to the Mint, those coins bear a “July 4th” mark because they were struck on July 4, the anniversary of the Declaration of Independence.

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The Mint said demand for the coins was high, with a virtual waiting room activated on Wednesday because of “extraordinarily high traffic” on its website.

Households were initially limited to two orders, although the Mint said the restriction would be lifted at 2 p.m. Eastern time on Thursday.

The release follows controversy over the depiction of a living president on US currency.

Federal law had previously prohibited living people from being depicted on US currency, but the Circulating Collectible Coin Redesign Act of 2020, signed by Trump during his first term, contained provisions allowing coins commemorating the country’s 250th anniversary.

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Treasury Secretary Scott Bessent said the coin “celebrates the strength of American values, and the promise of a nation dedicated to preserving freedom for all.”

The Trump administration has also maintained that congressional approval was not required for the coin, citing a history of commemorative coins bearing the likeness of sitting presidents.

The US Mint has released other commemorative coins as part of the 250th-anniversary celebrations, including Revolutionary War Quarters, American Eagle Gold Coins and Enduring Liberty Half Dollars.

In June, 250,000 Semiquincentennial 2026 Declaration of Independence Quarters bearing a special “July 4th” mark were also released into circulation.

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