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SEE Black Market Dollar To Naira Black Exchange Rate Today 12th August 2024

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By Kayode Sanni-Arewa

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 remember that the rate can shift (either upwards or downwards) within hours.

What is the Dollar to Naira Exchange rate at the black market?

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The local currency (abokiFx) opened at ₦1,610.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 12 August 2024, in Lagos Nigeria, after it closed at ₦1,600.00 per $1 on Sunday, 11 August 2024.

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate ₦1,600
Selling Rate ₦1,610
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, 12 August 2024, is ₦ 1,560 per US dollar.

1 USD = 1560.2985 NGN
1 Dollars = 1560.2985 Nigerian Naira
The USDNGN rate as of 12 Aug 2024
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.

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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 confidence level in the naira and the CBN’s policies.

NOTE: We do 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 differ from what is captured in this article.

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Friends of Hilary urges Delta North to move beyond Nwoko’s failed suit

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The Friends of Hiliary (FOH), has urged constituents in Delta North to put behind them the recent court ruling that struck out Senator Ned Nwoko’s suit challenging the victory of Senator Ifeanyi Okowa in the All Progressives Congress (APC) senatorial primary, saying the district has more pressing issues demanding attention.

The group said the Federal High Court’s decision, which reportedly described the suit as incompetent, should bring an end to the legal dispute and allow political actors and the electorate to focus on the task of rebuilding Delta North.

In a statement issued on Tuesday, FOH maintained that the people of the district stand to gain more by concentrating on development and effective representation rather than prolonged political contests.

According to the group, Delta North has lost valuable time over the past three years and now requires a united effort to recover missed opportunities and reposition the senatorial district for sustainable progress.

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“The issues confronting our people are far too serious for us to continue dwelling on a suit that has already been struck out by the court,” the statement said.
FOH urged constituents to look beyond partisan disagreements and embrace what it described as the bigger picture of restoring quality representation, attracting development projects and ensuring that the interests of Delta North occupy the front burner of national discourse.

The group also called on political stakeholders across party lines to avoid actions capable of deepening divisions within the district, insisting that the welfare of the people should take precedence over personal political ambitions.

It said the court’s ruling should serve as an opportunity to close the chapter on the primary election dispute and redirect energy toward initiatives that would improve the lives of the people.
FOH reaffirmed its support for Senator Okowa, expressing confidence in his capacity to provide purposeful leadership and work with all stakeholders to advance the interests of Delta North.

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PDP Rebuilding, Will Come Out Stronger, BoT Assures Party Supporters

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The Board of Trustees (BoT) of the Peoples Democratic Party has reiterated that the party has moved past the period of uncertainty over persistent litigation, adding that the party is now rebuilding and will come out stronger and better.

The BoT Chairman, Senator Mao Ohuabunwa, in a statement on Tuesday, said the last week Friday’s judgment of the Federal High Court should be enough for those who are yet to accept the reality of a new PDP to beat a retreat.

Senator Ohuabunwa, while hailing the Federal High Court judgment, said it was in line with earlier judgement of the Supreme Court.

He said, as the conscience and the moral compass of the party, the BOT fully respects and accepts the Federal High Court judgment and will continue to respect the rule of law.

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The PDP BoT Chairman described any other person parading himself as the Chairman of the PDP BoT as criminal impersonator that will be made to face the full wrath of the law soon.

Senator Ohuabunwa urged party leaders to embrace reconciliation and collective responsibility, stressing that the PDP must remain focused on strengthening its internal structures so as to emerge victorious in the 2027 general elections.

He assured that necessary steps will be taken to further strengthen the Party’s unity, stability, and preparedness for upcoming electoral engagements.

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Ganduje to Kwankwaso: Negotiating with bandits’ll enrich them, not good strategy

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Former National Chairman of the All Progressives Congress, APC, Abdullahi Ganduje, has declared that sitting with bandits to negotiate is not a good strategy.

He cautioned that negotiating with bandits would further enrich the terrorists, thereby worsening insecurity in the country.

He made the remark at a press conference on Tuesday in response to claims by the vice-presidential candidate of the Nigeria Democratic Congress, NDC, Rabiu Kwankwaso, that he and the party’s presidential candidate, Peter Obi, would hold talks with terrorists if elected into office in 2027.

According to Ganduje:, the role of the security agencies depends on the strategies that have been adopted. The Air Force helps to do its own due diligence, alongside the Army, Navy, the police, and the DSS. So, the issue of sitting with bandits to negotiate with them personally, I don’t appreciate that.

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“Because, in Nigeria, having a gun without approval is illegal. How do you expect hundreds of bandits to come from the forests with their guns to sit down with local chiefs, chairmen of local governments, traditional rulers, or even the police and start negotiating? I think that system has failed, and it will continue to fail.

“This is because we are giving room to the bandits; we are arming them because the negotiation is that they should be allowed to operate here and there, they should be given money, transportation, motorcycles, and money for logistics. So, in a way, we are giving them an enabling environment to operate.

“And by so doing, they would enrich themselves through kidnapping, as that would give them more financial power to purchase weapons, which would be used against us to cause panic and then call them for negotiation. I don’t think that is a good strategy.”

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