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SEE Black Market Dollar To Naira Exchange Rate Today Monday 27 May 2024

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Bu Kayode Sanni-Arewa

You can access Monday 27 May 2024 rates Below:

IMPORTANT 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.

NewsRain Nigeria has obtained 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.

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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?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1515 and sell at N1520 on Sunday 26th May 2024, according to sources at Bureau De Change (BDC).

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Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)

Black Market Exchange Rate Today

Buying Rate N1515

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Selling Rate N1520

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)

CBN Rate Today

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Buying Rate N1481

Selling Rate N1482

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.

How does the black market dollar-to-naira exchange rate compare to the official rate?

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The official exchange rate of the US dollar to the Nigerian naira, as of today, 27 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 that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

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Disclaimer: NEWSRAIN NIGERIA does not set or determine forex rates. 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.

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I regret obtaining NDA form for Lagbaja, says family head

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The head of the late Chief of Army Staff (COAS), Lt. General Taoreed Lagbaja’s family, Pa Tajudeen Lagbaja, has expressed regret obtaining Nigerian Defence Academic (NDA) form for the deceased.

Pa Tajudeen, the younger brother of the late COAS’s father, stated that he would not have bought the form had he known it would lead to his death.

Some family members also alleged that Lt. General Lagbaja may have been killed through diabolical means due to a land dispute in his hometown.

According to TheNation, In 2023 a dispute arose in Ilobu, the headquarters of Irepodun Local Government Area in Osun State, when representatives of the Nigerian Army planned to establish a hospital in the community.

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Pa Tajudeen told TheNation that he initially obtained the NDA form for the late Lieutenant General.

“Everyone who is born must die. We give glory to God. The year that I obtained NDA form for him, if I had known that he would die before me, I would not have done so. I regret obtaining the form for him. But it is destiny.

“The death that killed Taoreed Lagbaja ought to take me. I took him as one of my children. We are greatly bereaved, we are sad. He constructed a borehole in his father’s compound and other places in the community.

“We can never forget him, his death is so shocking to us. I have accepted the fate, all the promises he made to me have hit a brick wall. He always gave us hope in the family, despite the sorrow, I give thanks to God,” the family head said.

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Tinubu Reappoints Prof Abdullahi Mustapha As DG Of Biotechnology Agency NBRDA

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President Bola Tinubu has reappointed  Prof. Abdullahi Mustapha as the Director-General of the National Biotechnology Research and Development Agency (NBRDA).

Prof. Abdullahi is expected to serve another second term of five years as the head of the research agency.

His appointment was announced in a press statement issued by the Press Secretary to the NBRDA Director-General, Toyin Omozuwa, in Abuja on Saturday.

According to the statement, Mustapha’s reappointment was conveyed in a letter signed by the Secretary to the

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Government, George Akume.

“Mustapha’s second term is effective from 31st October 2024 and is in line with the provisions of Sections 10 (1) and (3) of the National Biotechnology Development Agency (Establishment) Act, 2022,” the statement said.

Omozuwa stated that industry experts regard the reappointment as an expression of Tinubu’s confidence in Mustapha’s capability to drive innovation towards achieving food security.

He added that the reappointment would allow the Director-General to complete his work in enhancing pharmaceutical production, as well as positioning Nigeria at the forefront of the Fourth Industrial Revolution.

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Mustapha is a Professor of Bioinorganic Chemistry and hails from Dambatta Local Government Area of Kano State.

The National Biotechnology Development Agency (NABDA) is an agency established in 2001 under the Federal Ministry of Science and Technology, that implements policies, explores resources, conducts research, promotes, coordinates and develops biotechnology in Nigeria.

The NABDA also controls and supervises the introduction of genetically modified organisms into Nigeria.

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Legal Questions Arise Over Elon Musk’s Immigration History Amid Calls for Citizenship Revocation

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Elon Musk, a citizen of the United States could be at risk if it is proven that he misrepresented facts during his immigration process, according to legal experts. This debate comes I  the middle of calls for the revocation of his citizenship, fueled by Musk’s vocal support for Donald Trump and his controversial remarks on immigration.
Musk, originally from South Africa, moved to Canada before settling in the U.S., where he eventually became a naturalized citizen, but reports recently alleged that he may have worked in the U.S. without proper authorization in the 1990s.
According to ‘The Washington Post’, Musk was admitted to Stanford University in 1995 on a student visa but did not enroll, instead working on the startup that became Zip2. Court records and former associates cited by the “Post” suggested that he lacked proper work authorization during this period.
But Musk has debunked these claims, as he said that he was in the U.S. legally on a J-1 visa, which later transitioned to an H1-B visa. However, a 2005 email cited in a defamation case reportedly revealed Musk admitting that he applied to Stanford because he “had no legal right to stay in the country.”
Legal experts indicated that working without authorization and misrepresenting such actions during the immigration process could constitute grounds for revocation of citizenship under U.S. law.
The Legal Framework
The U.S. law permits the revocation of citizenship if it was obtained through “concealment of a material fact or willful misrepresentation.” Violations such as unauthorized work can be flagged during multiple stages of the immigration process, including green card and naturalization applications.
Amanda Frost, a professor of immigration law, explains that misrepresenting visa violations could lead to denaturalization. “If a person violated the terms of a visa and later failed to disclose that during the naturalization process, their citizenship could be deemed ‘illegally procured,’” she stated.
Stephen Yale-Loehr of Cornell Law School adds that while such cases are legally valid, they are rarely pursued unless the violations are deemed material.
Potential Outcomes and Implications
If evidence of wrongdoing were uncovered, Musk would not face immediate deportation but could be subjected to a lengthy legal process. Criminal penalties for making false statements during naturalization include up to five years in prison.
However, legal experts note that such cases often hinge on whether the alleged violations would have materially affected the individual’s eligibility for a green card or citizenship. Immigration attorney Greg Siskind believes it’s unlikely that Musk’s actions, if proven, would have prevented his eventual naturalization.
Political and Public Backlash
The controversy has reignited debates about immigration enforcement and denaturalization. Under the Trump administration, efforts to revoke citizenship increased significantly, with thousands of cases investigated and dozens referred for deportation.
Musk, a high-profile immigrant, has faced criticism for his frequent comments on immigration issues, with many accusing him of promoting divisive narratives. His extensive ties to government contracts and national security projects also add a layer of scrutiny to his case.
Calls for Musk to release his immigration records under the Freedom of Information Act remain unanswered. Meanwhile, legal analysts emphasize that any action against Musk would depend on clear evidence and prosecutorial discretion.
This unfolding situation underscores the complexities of immigration enforcement and the potential implications for high-profile figures.
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