Connect with us

News

SEE NAIRA Rates Against The USD, GBP, EURO Today May 10, 2024

Published

on

The Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.

Black Market Exchange Rates

Buying Rate

Selling Rate

Advertisement

Dollar to Naira 1450 1430
Pounds to Naira 1800 1760
Euro to Naira 1540 1500
Canadian Dollar to Naira 1360 1320
Rand to Naira 52 43
Dirham to Naira ‎0 0
Yuan to Naira 62 62
G.Cedi to Nair 119.19 119.19
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF) To Naira 0.74 0.74

Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Despite LG autonomy, Nigerian governor spends millions on vehicles for council officials

Published

on

Governor Bassey Otu of Cross River State has spent millions of naira to purchase brand new SUVs for chairpersons and vice-chairpersons of the state’s local government councils despite the July 2024 Supreme Court judgement affirming the financial autonomy of Nigeria’s 774 local governments.

On 13 November, Mr Otu, represented by the Deputy Governor of Cross River, Peter Odey, presented Coolray SUVs to 18 vice-chairpersons at the Government House Calabar.

Mr Odey was assisted by the Governor’s Chief of Staff, Emmanuel Ironbar.

A spokesperson to Governor Otu, Nsa Gill, in a press statement on 14 November, said the SUVs were meant to enhance productivity and efficiency at the local councils.

Advertisement

The statement said the Vice-Chairperson of the Obubra Local Government Council, Leonard Ogwa, who spoke on behalf of his colleagues, “expressed gratitude” to Mr Otu for the vehicles.

Mr Ogwa said the vehicles would “enhance the smooth and efficient operation of their offices”.

The statement quoted Mr Ogwa as assuring them they would work alongside their council chairpersons to “build on the governor’s achievements.”

Cost of SUVs

Advertisement

According to information available on the Internet, the retail price for a Coolray SUV is between N14,700,000 (Coolray SUV – Dynamic Plus), N13,900,000 (Coolray SUV – Dynamic) and N16,900,000 (Coolray SUV – Sport Plus).

At a unit price of N16,900,000, 18 Coolray SUV—Sport Plus would cost N304,200,000, but the Cross River State Government must have spent much more than that if that is the exact brand it bought for the officials. This is because of the characteristic opaque nature of government procurement processes in Nigeria, which makes them susceptible to prices of goods and services being inflated.

According to the statement, Governor Otu had earlier presented Ford SUVs to the chairpersons of the 18 local councils.

The governor may have spent at least a billion naira to purchase the vehicles for the council chairpersons and vice-chairpersons.

Advertisement

Where did the money come from?

PREMIUM TIMES asked Mr Otu’s spokesperson why the governor should give out vehicles to officials of local councils when the councils are expected to enjoy financial autonomy.

“The autonomy is still there, and the governor abides by the judgement of the Supreme Court, but you also know that even the (Nigerian) constitution also gives power to the House of Assembly to make laws for the administration of the local governments,” Mr Gill responded.

He said the governor’s giving out vehicles to the officials of the local councils does not diminish the regional government’s autonomy.

Advertisement

PREMIUM TIMES also asked Mr Gill where the money for purchasing the vehicles came from.

“You know, for sometimes, there was a joint account (between the state government and the local councils) operation, and there were some reserve funds, so to say, in the joint account.

“I can’t say that the fund came from there, but I know they may have come from there as well,” he responded.

Mr Gill, however, said Governor Otu will not operate the joint account.

Advertisement

He said there is some kind of partnership between the local and state governments to develop Cross River.

Our reporter asked Mr Gill about the possibility that vehicles for local officials may not have been a priority need of the councils.

“First, the chief executives of the councils need to be mobile. The departments in the councils will also need vehicles. And those vehicles (needed by the departments) will be bought directly by the councils,” he responded.

Background

Advertisement

Before the landmark Supreme Court judgement, local councils and their officials existed at the mercy of the governors of their respective states.

Many governors deliberately refused to conduct local elections for several years. They were comfortable appointing their allies to run the affairs of the councils and dictating to them how to use the councils’ funds.

In some cases, the governor arbitrarily dissolved the leadership of some councils and handpicked a new set of officials.

With the Supreme Court judgement, the joint account has been abolished. The Accountant General of the Federation has been mandated to pay funds that belong to the local government directly into a council’s bank account.

Advertisement

The Supreme Court also declared setting up a caretaker committee to run local councils illegal.

Continue Reading

News

Oil Marketers Join Dangote, Slash Petrol Price By 11.8%

Published

on

Oil marketers lifting Premium Motor Spirit (PMS), popularly known as petrol, from Dangote Petroleum Refinery have reduced the price from N1,060 to N939.50 per litre.

According to report, oil major marketers, including MRS, have adjusted their pump prices to reflect the reduction as of today.

A visit to MRS’s filling station in Ojota, Lagos, showed that the company is now selling petrol at N939.50 per litre.

Recall that this is coming after Dangote Petroleum Refinery cut its ex-pump price from N970 to N899.50 per litre.

Advertisement

This move, according to the refinery, aims to provide relief to Nigerians ahead of the holiday season.

In a statement, the Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, said:
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS.

From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.

“Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”

Advertisement

This price slash is expected to ease the financial burden on consumers as they prepare for the festive period.

Continue Reading

News

NIMC insists NIN enrolment is free, restates commitment to zero tolerance for extortion

Published

on

The National Identity Management Identity Commission [NIMC] on Friday night explained that it does not charge any fee for enrollment for the National Identification Number (NIN).

In a statement by its spokesman, Kayode Adegoke, the commission further stated that it has not authorised any staff or its Front End Partners (FEP) to charge applicants for the NIN enrolment.

“To this end, the Commission has directed security agencies to track any staff or FEPs caught extorting applicants for NIN enrollment. Anyone caught will be sanctioned appropriately in line with the provisions of the law, and the license of such FEP will be withdrawn”, the statement reads.

The full text of the statement is published below…

Advertisement

*NIMC RESTATES COMMITMENT TO ZERO TOLERANCE FOR EXTORTION*

The National Identity Management Commission (NIMC) wishes to inform the general public that enrollment for the National Identification Number (NIN) is free. The Commission does not charge nor authorise any Staff or its Front End Partners (FEP) to charge applicants for the NIN enrolment.

To this end, the Commission has directed security agencies to track any staff or FEPs caught extorting applicants for NIN enrollment. Anyone caught will be sanctioned appropriately in line with the provisions of the law, and the license of such FEP will be withdrawn.

Furthermore, the general public is advised to report any staff or FEP that demands money for enrollment through the following channels:
Email- [email protected]
Phone number-07002255646

Advertisement

The Commission assures of its utmost commitment to ensuring seamless enrollment services and pledges to stem the tide of extortion

Kayode Adegoke, PhD
Head, Corporate Communications.
National Identity Management Commission
20th December, 2024

Continue Reading

Trending

Copyright © 2024 Naija Blitz News