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SEE Black Market Dollar To Naira Exchange Rate Today 1st September 2024

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The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1600 and sell at N1615 on Sunday 1st August 2024, according to sources at Bureau De Change (BDC).

The official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.

How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):

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The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1600 and sell at N1615 on Sunday 1st August 2024, 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
Buying Rate N1600
Selling Rate N1615
Dollar to Naira CBN Rate Today.

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Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1600
Selling Rate N1610
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Business

JUST IN: ADC Lawmakers Demand Removal of INEC Chairman, Threaten Legal Action Over Alleged Bias

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By Gloria Ikibah

The African Democratic Congress caucus in the House of Representatives has launched a fierce attack on the leadership of the Independent National Electoral Commission, calling for the removal and prosecution of its chairman over alleged partisanship and misconduct ahead of the 2027 elections.

Briefing journalists after its inaugural meeting held on 12 April 2026, the leader of the caucus. Rep. Afam Ogene raised alarm over what it described as growing concerns about the neutrality and credibility of the electoral body under Professor Joash Amupitan.

Reps. Ogene pointed to alleged past online activity linked to the chairman, claiming it suggested political bias in favour of the ruling party. While the commission has denied any connection between the chairman and the social media account in question, the caucus insisted that independent digital checks indicated otherwise, raising doubts about transparency and trust in the office.

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The caucus argued that such concerns strike at the heart of the commission’s ability to conduct free, fair and credible elections, warning that the situation could undermine Nigeria’s democratic process if left unchecked.

Beyond the electoral body, the caucus also accused elements within the judiciary of working in tandem with the commission to frustrate the party’s participation in upcoming elections. It alleged attempts to interfere in the party’s internal leadership dispute, despite clear legal provisions barring courts from adjudicating such matters.

He said: “In light of these inconsistencies and concerns regarding impartiality and integrity, the House Caucus, on Monday, 13th April 2026, hereby calls for the removal of Prof. Amupitan from office and advocates for his prosecution, in order to safeguard the nation against an avoidable descent into undemocratic practices.

“The Caucus is gravely concerned about the ostensibly undemocratic actions taken by INEC, under the leadership of Prof. Amupitan, which appears to deny the ADC the opportunity to participate in the forthcoming elections. This is being achieved through the perpetuation of a leadership crisis within the party, whereby INEC has abdicated its responsibility as an impartial arbiter and instead intervened in the party’s internal affairs. Specifically, the commission seems to be recognizing an illegitimate leadership faction, contrary to the authentic leadership of Senator David Mark, which had previously been acknowledged and certified by INEC itself, having met the requisite criteria, as evidenced by a recent affidavit issued by the Commission.

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“We note that the Commission, in collusion with certain elements within the judiciary, is actively working to undermine the aspirations of the ADC, thereby preventing the party from fielding candidates in the forthcoming elections, through duplicitous means that serve to obstruct inclusivity within the democratic process.

“In fact, credible information at our disposal suggest that certain individuals within the judiciary and INEC are collaborating to influence the outcome of a case coming up on Tuesday, April 14, 2026 regarding the leadership question in the ADC, potentially impacting the recognition of a discredited faction.

“In fact, Section 83 (5) in the Electoral Act 2026 clearly prohibits any court of law in Nigeria from entertaining any case concerning party Congresses. The section says –
“S. 83 (5) “… No Court in Nigeria shall entertain jurisdiction over any suit or matter pertaining to the internal affairs of a political party.”

They further referenced provisions imposing penalties on individuals who pursue such cases, adding: “Where such action is brought in negation of this provision – (a) No interim or interlocutory injunction shall be entertained by the Court… (b) The Court shall, at the conclusion of the matter, impose costs of not less than ₦10,000,000.00…”

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The caucus maintained that ongoing developments suggest a deliberate effort to legitimise a faction it considers illegitimate, thereby weakening the party’s chances in future elections.

In response, the group announced plans to petition the National Judicial Council, seeking a thorough investigation into what it described as politically exposed judicial officers, with the possibility of disciplinary action or removal from the bench.

The lawmakers said they were acting in defence of democratic principles, warning that public confidence in both the judiciary and electoral system is rapidly eroding.

They echoed concerns raised within the legal community about the growing perception of judicial compromise, citing recent remarks by the Nigerian Bar Association leadership on the dangers of political patronage influencing the courts.

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We concur with the position of the NBA president, who only days ago expressed concerns over the growing perception of judges as beneficiaries of political patronage, stating that it erodes public trust in the justice system. The NBA president had lamented the practice of politicians gifting cars to judges, suggesting it compromises their neutrality and demeans the judiciary. “It demeans the judges. It demeans the judiciary,” he said. He emphasized that judicial needs should be addressed through proper budgetary processes, allowing courts to manage their own affairs rather than relying on public display of largesse, which undermine judicial integrity and independence.

“INEC must not only be independent in name but also demonstrate impartiality, transparency, credibility, and trustworthiness in its actions. However, current public perception suggests a disconnect from these ideals”, he noted.

The caucus stressed that the credibility of Nigeria’s democracy now hinges on urgent reforms, insisting that the electoral commission must not only claim independence but also demonstrate it through transparency, fairness and accountability.

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Bank stops transfer fees on online transactions

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Sterling Bank has announced the removal of transfer fees on all local online transactions, becoming the first major Nigerian bank to eliminate the contentious charges for digital banking.

The move was confirmed by the bank on Tuesday in a press release.

The statement noted that the bank reaffirmed its commitment to customer-centric banking, declaring that the zero-transfer-fee policy is real and effective immediately.

The bank’s Growth Executive in charge of Consumer and Business Banking, Obinna Ukachukwu, described the decision as a values-driven approach aimed at ensuring fair and inclusive banking.

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“We believe access to your own money shouldn’t come with a penalty.

“This is more than a financial decision—it’s about redefining banking to put customers first,” he stated.

Under the new policy, Sterling customers will not be charged for local transfers conducted via the bank’s mobile app.

The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.

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Ukachukwu emphasised that the bank’s decision is about more than just competitive strategy.

He said, “We’re not yet the biggest bank in Nigeria, but we’ve been the boldest.

Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.”

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I like ladies who wear short dresses – Falz

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Nigerian rapper, Folarin Falana, popularly known as Falz, has expressed his admiration for miniskirts and short dresses.

Speaking in a recent podcast interview with Madame Joyce, Falz revealed that he loves women in short dresses.

According to him, short dresses bring out the sexiness in women.

“I have a thing for short skirts and short dresses. They bring out the sexiness in a woman. I so much like miniskirts,” he said.

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