Connect with us

News

See Dollar to Naira exchange rate today, August 17, 2026

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

The Nigerian naira opened the week relatively strong against the United States dollar, with the local currency trading around N1,357.61 per dollar at the official Nigerian Foreign Exchange Market (NFEM) window and about N1,420 per dollar at the parallel market.

Data from the Central Bank of Nigeria (CBN) showed that the NFEM rate stood at N1,357.61 per US dollar as of the latest available official market data. The rate is based on the volume-weighted average of transactions in the official foreign exchange market.

The parallel market, meanwhile, continued to quote the dollar at around N1,420, leaving a gap of approximately N62.39 between the two markets. Proshare reported that the naira had appreciated by 59 basis points at the official market to N1,357.61/$, while the parallel-market rate remained at N1,420/$.

Advertisement

The latest official rate represents an improvement for the naira compared with the previous week’s N1,365.69 per dollar. The appreciation has been linked to improved foreign exchange liquidity and supply conditions in the official market.

More recent market indicators also point to continued stability in the naira-dollar exchange rate. A live USD/NGN rate source put the dollar at about N1,358.30 as of the early hours of August 17, while other market data placed the currency around the N1,358 level.

The naira’s performance comes amid stronger external reserves and recent changes by the CBN aimed at improving liquidity and efficiency in Nigeria’s financial markets. Nigeria’s external reserves rose to $52.19 billion as of August 12, 2026, their highest level in 17 years, according to recent reports.

For Nigerians buying or selling dollars outside the official market, the parallel-market rate remains higher than the NFEM rate. The difference reflects continued segmentation between the two foreign exchange channels, although the spread remains relatively contained compared with periods of severe market volatility.

Advertisement

As trading progresses on Monday, August 17, the official NFEM rate and parallel-market quotations could change depending on dollar supply, demand from importers and other FX users, CBN interventions and broader global currency movements.

News

Nigerian lands in Accra Court for attempting to rob three Ghanaian banks

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

A Nigerian man, Augustine Okechuku Maazi, has appeared before Accra Circuit Court 8 in Ghana over an alleged plot to rob three banks in the Labone area of Accra.

Maazi was arrested on Thursday, August 13, 2026, after Ghanaian police reportedly foiled the alleged robbery operation. Two other suspects were reportedly killed in a shootout with police, while another suspect escaped.

The development comes amid growing questions over the circumstances surrounding the incident, following a denial by GCB Bank that any robbery or attempted robbery took place at its Labone branch.

Advertisement

The Ghana Police Service had said it received intelligence at about 10:45 a.m. on August 13 that a gang was preparing to attack GCB Bank, Ecobank and Zenith Bank, all located in the Labone area.

According to the police, officers deployed to the area spotted suspected members of the gang in vehicles parked near the banks.
Upon sighting the police, one of the vehicles sped off in an attempt to escape,” the police said.

Officers reportedly pursued the vehicle and arrested Maazi, while another occupant escaped.

The police said occupants of a second vehicle also attempted to flee while firing at officers, leading to a shootout.

Advertisement

“The police engaged them in a shoot-out resulting in the death of two suspects,” the Service said.

The police said two vehicles were recovered from the suspects, a Toyota Highlander with registration number GS-1434-18 and a Hyundai Tucson with registration number GS 7915-17. A blow pistol was also reportedly recovered.

However, GCB Bank subsequently denied that its Labone branch was attacked or targeted in an attempted robbery.

“GCB Bank wishes to clarify that no robbery or attempted robbery took place at our Labone Branch or on the Bank’s premises,” the bank said.

Advertisement

The bank added: “At no point was the branch breached, and no customer, member of staff, funds or property of the Bank was affected.”

The conflicting accounts have raised questions about the precise nature of the incident and whether the suspects were actually preparing to rob the banks as alleged by the police.

Further questions emerged after checks revealed that the Toyota Highlander bearing registration number GS 1434 18, which police identified as one of the vehicles recovered from the suspects, had been listed by Ghanaian authorities as having been impounded in 2019.

The apparent reuse of the same registration number has raised questions about the vehicle’s history and the police account of the incident.

Advertisement

The controversy also prompted the Nigerian High Commission in Ghana to intervene. The President of All Nigerian Communities in Ghana was reportedly sent to Ghana Police Headquarters to seek clarification over the circumstances surrounding Maazi’s arrest and the deaths of the two other suspects.

Destiny Austine Omon, media coordinator of the Nigerian High Commission in Ghana, also questioned aspects of the police account, including the location of the alleged robbery, the weapon reportedly recovered and the vehicles allegedly used by the suspects.

“The environment where the robbery took place is one of the safest environments in Ghana. It is close to 37 Military Base, the Ghanian Presidency, police headquarters and cantonment.

He added: “It does not add up for armed robbers wanting to do that scale of attack to be arrested with only a pistol.”

Advertisement

The Ghana Police Service has maintained that its officers foiled a planned attack on the three banks, while investigations continue to establish the identities and roles of the two deceased suspects, trace the escaped suspect and determine the circumstances surrounding the alleged robbery plot.

Sahara Reporters

Continue Reading

News

Osun Poll: Davido’s Father Alleges APC Spent N60bn on Vote Buying

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

Adedeji Adeleke, father of singer David Adeleke, popularly known as Davido, has alleged that the All Progressives Congress (APC) spent about N60 billion to influence voters during the Osun State governorship election.

Adeleke made the allegation in a viral video while speaking about the election, which saw his younger brother, Governor Ademola Adeleke, secure re-election for a second term.

The businessman claimed that voters in some areas were allegedly offered as much as N50,000 for their votes.

Advertisement

According to him, reports of the alleged spending prompted him to retreat to his room and pray for his brother’s victory.

He maintained that the Adeleke family did not spend money to influence voters on election day, insisting that Governor Adeleke’s victory reflected the choice of the electorate.

“The only reason why we defeated Oyetola is not that we are bigger or that we spent more money than him. On election day, we didn’t spend any money.

“They spent N60 billion, as we heard. In some places, they bought most votes for as high as N50,000 for a single vote.

Advertisement

“On the day of the election, when I heard the kind of money they were spending, I went back to my little corner in my room, and I knelt down and prayed to God.
“I said, ‘God Almighty, let people collect their money, but let them still vote for Ademola Adeleke.’”

Adeleke attributed his confidence during the election to his strong Christian faith, saying he regularly turns to the Bible for strength and guidance.

He specifically cited Isaiah 41:10, saying his faith had made him fearless and less reliant on influential individuals.

“When I need God to pray every day, I have some Bible passages and verses that I read and that I pray with. And this is part of my testimony,” he said.

Advertisement

He added that his strong belief in God had discouraged him from seeking patronage from powerful figures.

“That’s why you don’t see me running after people in high places or competing with people to go and visit anyone. I would rather do it in my little corner. I would rather ask God Almighty to help me,” he said.

Adeleke’s allegation has not been independently verified, and the APC has not, in the remarks provided, responded to the claim.

The comments came after the Independent National Electoral Commission (INEC) declared Governor Ademola Adeleke the winner of the Osun governorship election at about 7:24 a.m. on Sunday.

Advertisement
Continue Reading

News

Edo new speaker reveals why speaker was flushed out

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

The newly elected Speaker of the Edo State House of Assembly, Yekini Idiaye, has revealed why his predecessor, Blessing Agbebaku, was flushed out by lawmakers over alleged poor leadership and corruption.

Idiaye, who represents Akoko-Edo Constituency I and is a third-term lawmaker, emerged as Speaker on Monday following Agbebaku’s resignation amid moves by lawmakers to impeach him.

Addressing journalists after Monday’s plenary, Idiaye accused Agbebaku of poor leadership, alleging that his tenure was characterised by corruption and prolonged adjournments.

Advertisement

He said, “The House was inaugurated on the 16th of June, 2023 under the leadership of Agbebaku, and since then we have been passing through a lot of challenges, corruption here and there, adjournment here and there, sometimes for 30 days without a cause. We are not happy with his leadership style. His leadership is poor, and it has been drawing the work of the government backwards.”

Idiaye added, “That is why we removed him. We must encourage our performing governor. He is doing well, anything that will derail or stop our performing governor, we must stop it. That is why we changed him. I can assure all of you that we will do everything possible to support Governor Monday Okpebholo to move this state forward.”

He said, “The House was inaugurated on the 16th of June, 2023 under the leadership of Agbebaku, and since then we have been passing through a lot of challenges, corruption here and there, adjournment here and there, sometimes for 30 days without a cause. We are not happy with his leadership style. His leadership is poor, and it has been drawing the work of the government backwards.”

Idiaye added, “That is why we removed him. We must encourage our performing governor. He is doing well, anything that will derail or stop our performing governor, we must stop it. That is why we changed him. I can assure all of you that we will do everything possible to support Governor Monday Okpebholo to move this state forward.”

Advertisement

Idiaye’s emergence was also said to have followed the Assembly’s zoning arrangement, which provides that when the governor is from Edo Central Senatorial District, the Speaker should come from Edo North.

Idiaye, being the oldest member from Edo North, was subsequently elected Speaker.

Continue Reading

Trending

Copyright © 2024 Naija Blitz News