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Naira Slumps Further: Black Market Exchange Rate For September 30th, 2024 Revealed
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By Mario Deepromoter
Today’s exchange rate for the dollar to naira in the black market.
What is the current Dollar to Naira exchange rate in the parallel market (Aboki fx)? Below is the black market rate for September 29th, 2024. If you’re looking to exchange your dollars for naira, these are the rates you’ll likely encounter.
Dollar to Naira Exchange Rate Today (Black Market – Aboki Rate):
On Sunday, September 29th, 2024, at the Lagos Parallel Market (Black Market), sources from Bureau De Change (BDC) report that a dollar is bought for N1679 and sold for N1690.
Please be aware that the Central Bank of Nigeria (CBN) does not officially recognize the black market (parallel market) and advises individuals seeking foreign exchange to visit their respective banks.
Black Market Dollar to Naira Rate Today:
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1679
Selling Rate N1690
CBN Dollar to Naira Rate Today:
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1637
Selling Rate N1638
Please note that exchange rates may vary from those provided in this article, as rates can fluctuate across different Forex sources.
Oil Companies Owe Nigeria $6.17 Billion in Unpaid Royalties and Taxes – Report
A recent audit report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that oil companies owe the Federal Government a total of $6.175 billion in unpaid royalties and taxes.
As of August 31, 2024, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was owed $6.071 billion and ₦66.4 billion in outstanding royalties and gas flare penalties. Additionally, the Federal Inland Revenue Service (FIRS) is owed $21.926 million and ₦492.8 million in unpaid petroleum profit taxes, company income taxes, withholding taxes, and VAT as of June 2024.
The NEITI report also highlighted a 9% decline in revenue from the petroleum industry in 2023, down to $16.467 billion from $18.106 billion in 2022. Furthermore, the report noted a total loss of 7.68 million barrels of crude oil in 2023 due to theft and measurement inaccuracies—a sharp 79% drop from the 36.69 million barrels lost in 2022.
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NNPC slashes petrol price twice within four days
The Nigerian National Petroleum Company Limited, NNPCL, has slashed its fuel pump price for the second time within four days.
A market survey on Saturday by DAILY POST showed that NNPCL retail outlets around Airport Junction and Wuse Zone 6 (Berger) in Abuja have reduced their petrol price to N1210 per litre, down from N1260.
This means that the state-owned oil firm slashed the petrol price by N50 per litre.
This comes barely two days after Dangote Refinery reduced its petrol gantry price by N50 to N1,125 per litre.
Recall that four days ago, NNPCL had adjusted its fuel price pump by N75 per litre to N1260.
With the latest drop by NNPCL retail outlets, petrol prices stand between N1210 per litre and N1305 per litre in Abuja and its environs.
The reduction in domestic fuel comes amid falling crude oil prices, which stand at $69 per barrel and $71 per barrel for West Texas Intermediate and Brent crude, respectively, following the easing of the conflict in the Middle East.
Recall that President Bola Tinubu has kept mum amid the clamour by Nigerians for a commensurate drop in domestic fuel pump prices due to the significant reduction in crude oil prices.
News
Lokoja Court order: INEC speaks on NDC, says it’s yet to receive CTC
The Independent National Electoral Commission, INEC, has said it is yet to receive the Certified True Copy, CTC, of the Federal High Court judgment that set aside an earlier order directing it to register the Nigeria Democratic Congress, NDC, as a political party.
INEC revealed this in a statement issued on Saturday by its Chief Press Secretary and Media Adviser to the Chairman, Adedayo Oketola.
According to the commission, although it is aware of media reports on the judgment delivered by the Federal High Court sitting in Lokoja on June 26, it cannot comment on the ruling until it obtains and reviews the certified copy.
The Independent National Electoral Commission, INEC, is aware of reports circulating in the media regarding the judgment delivered on Friday, June 26, 2026, by the Federal High Court sitting in Lokoja, which set aside an earlier order concerning the registration of the Nigeria Democratic Congress.
“However, as of this moment, the Commission has not yet received the Certified True Copy, CTC, of the court’s order,” the statement said.
INEC stated that its legal department would study the judgment upon receipt of the CTC before advising the commission on the next course of action.
“Once the Commission’s legal department receives and thoroughly studies the CTC of the judgment, INEC will take an informed, lawful decision in line with the court’s directives.
“Until then, we cannot comment on the specifics of the ruling, and the public is urged to await the Commission’s formal position on the matter,” Oketola added.
Justice Isah Dashen of the Federal High Court in Lokoja had on Friday set aside the court’s December 10, 2025, judgment directing INEC to register the NDC as a political party.
The court held that the rights of the Peace Movement Party were affected by the earlier judgment because it was not joined in the suit despite claiming ownership of the logo relied upon in securing the registration order.
Justice Dashen consequently ordered that all parties be restored to the positions they occupied before the December 2025 judgment and directed that the substantive suit be heard afresh with all necessary parties joined.
The NDC has rejected the ruling and announced plans to appeal the decision. Its National Chairman, Senator Moses Cleopas, maintained that the party had not been deregistered and argued that the trial court lacked jurisdiction to revisit a matter on which it had already delivered a final judgment.
The ruling has also attracted reactions from opposition figures, including the NDC’s presidential candidate, Peter Obi, the party’s National Leader, Senator Henry Dickson, and other stakeholders, who described the decision as a threat to Nigeria’s multiparty democracy and vowed to challenge it through all available legal channels.
INEC, however, maintained that it would reserve its position on the judgment until it receives and reviews the Certified True Copy.
News
Just in: Police rescue five abductees in Ogun
A joint police operation rescued five victims abducted near Ogbere Forest in Ogun state on Wednesday.
They were rescued within 25 hours by the Lagos and Ogun Police Commands, which were part of a joint operation codenamed KOSAYE, meaning “No Space” in Yoruba.
The woman was among the victims who were shot in the incident. Her daughter and sister were among those rescued by the police on Thursday.
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