News
SEE Black Market Dollar To Naira Exchange Rate Today Sunday 19th May 2024

By Kayode Sanni-Arewa
Today Sunday 19th May 2024 Can Be Accessed Below.
NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…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.
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.
What is the dollar to naira exchange rate today?
The local currency (abokiFx) opened at ₦1,530 per $1 at the parallel market otherwise known as the black market, today, Sunday, 19th May 2024, in Lagos Nigeria, after it closed at ₦1,530.00 per $1 on Saturday, 18th May 2024.
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Buying Rate of $1 ₦1530
Selling Rate of $1 ₦1,550
How does the black market dollar-to-naira exchange rate compare to the official rate?
The official exchange rate of the US dollar to the Nigerian naira, as of today, 19th May 2024, is N1520.40 per US dollar.
This is the rate that the CBN uses for its transactions and interventions in the foreign exchange market. The official rate is also the basis for the exchange rates of other foreign currencies, such as the euro, the pound sterling, and the Chinese yuan.
The difference between the black market rate and the official rate is called the parallel market premium. The parallel market premium indicates the degree of divergence between the official and unofficial markets and reflects the level of confidence in the naira and the CBN’s policies.
Please NOTE! The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
News
BREAKING: PDP, NNPP Rep members abandon parties, lace boots with APC

Three opposition members of the House of Representatives on Thursday formally announced their defection to the ruling All Progressives Congress (APC) during plenary.
The Reps include Oluwole Oke from Osun State, who left the Peoples Democratic Party (PDP), and Kabiru Hassan Rumrum and Sani Abdullahi, both from Kano State, who defected from the New Nigeria Peoples Party (NNPP) to the APC.
Rumrum had earlier declared his resignation from the NNPP and his return to the APC during a meeting with the party’s National Chairman, Dr. Abdullahi Umar Ganduje.
Also, Oke had earlier announced his departure from the PDP in Osun State and his decision to join the APC.
Their defections were formally announced by Speaker Abbas Tajudeen at Thursday’s plenary, increasing the total number of lawmakers who have switched parties since the inauguration of the 10th National Assembly to 30.
Of the 30 defectors, 27 have joined the APC from the PDP, Labour Party, African Democratic Congress (ADC), and the NNPP.
News
FG to Seal Ijora-Marine Bridge for 21 Days Over Urgent Repairs

By Kayode Sanni-Arewa
The Federal Government has announced the temporary closure of the Ijora-Marine Bridge in Lagos for 21 days beginning Sunday, May 18, to allow for urgent repair works.
The Federal Controller of Works in Lagos, Mrs. Olukorede Kesha, disclosed this in a statement on Tuesday, noting that the closure will commence at 7:00 a.m. on Sunday.
According to the statement, sections of the bridge will be completely shut down, while others will experience partial closures throughout the repair period.
The maintenance works will include lifting the bridge deck to replace worn-out bearings, alongside other critical structural repairs,” Kesha said.
She explained that the repair project is aimed at ensuring the safety and comfort of both motorists and pedestrians who rely on the bridge.
“We understand the inconvenience this may cause, but this is a necessary step to keep the bridge in good condition and ensure the safety of all road users,” she said.
Kesha assured that traffic diversions had been carefully planned, with traffic officers deployed to manage flow and provide guidance to motorists.
She urged commuters, residents, and businesses in the area to adjust their schedules accordingly and cooperate with authorities during the repair period.
“Safety signs and traffic management tools will be put in place to minimize disruption. We sincerely apologise for the inconvenience and thank the public for their patience,” she added.
News
LASG moves to introduce monthly rent payment system to ease burden on tenants

By Kayode Sanni-Arewa
The Lagos State Government has announced plans to roll out monthly and quarterly rent payment options as part of broader efforts to ease the housing cost burden on residents, particularly those with low incomes.
Commissioner for Housing, Moruf Akinderu-Fatai, revealed this development last Tuesday during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s second term in office.
According to Akinderu-Fatai, this new approach continues the government’s commitment to improving access to affordable housing across the state.
He cited the earlier implementation of a rent-to-own initiative, which enables participants to make a five per cent initial deposit and pay off the remainder over a 10-year period.
That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
The commissioner highlighted that many residents struggle with annual rent obligations, and that the proposed flexible payment structure could provide much-needed relief.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.
Akinderu-Fatai noted that the government is currently engaging with stakeholders—including landlords, real estate developers, and other key actors—to address potential enforcement and logistical issues ahead of the policy’s introduction.
“Of course, there are issues to resolve — things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides,” he said.
He added that a pilot scheme will be launched in select locations across Lagos as part of the preliminary rollout.
This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” he stated.
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