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SEE 100 Dollars To Naira Black Market Rate Today 26 March 2024
100 dollars to naira black market rate today 26 March 2024 can be accessed below.
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.
How much is 100 dollars to naira black market today 26 March 2024? = ₦144,000
The local currency (abokiFx) opened at ₦1,440.00 per $1 at the parallel market otherwise known as the black market, today, so 100 dollars to naira black market today is ₦144,000.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate of $1 ₦1,430
Selling Rate of $1 ₦1,440
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.
Factors Influencing Foreign Exchange Rates
Here are some of the causes of the dwindling dollar-to-naira exchange rate.
Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.
Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.
Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.
Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.
Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.
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: Tension in Delta as soldiers invade another community
Fear grips Okpare-Olomu town, located in the Olomu Kingdom of Ughelli South Local Government Area in Delta State, after Nigerian military personnel invaded the community with three Hilux vehicles.
The incident, which occurred on Thursday morning around 7:30am, has left residents on edge, with reports indicating that the soldiers took control of the community town hall by force. It was learnt that locals are concerned about the military’s presence in their community.
It was gathered that the military stormed the community in search of some of the community’s leaders, especially its President-General, Okiemute Otoka.
The sudden appearance of the military in Okpare-Olomu community sparked widespread panic, with residents fleeing in all directions, while women and children ran for safety to avoid a repeat of a similar incident in Okuama community.
According to Otoka, Okpare-Olomu community President-General, the military’s true intention was to disrupt the community’s annual conference, scheduled for Thursday, where crucial decisions on growth and development were to be made.
Otoka’s allegations suggest that the military’s presence was not just a coincidence, but a deliberate attempt to interfere with the community’s affairs.
Otoka further accused some elders and leaders of the community of unlawfully selling communal land without the approval of the annual conference as those behind the invasion of the community by the military.
Meanwhile, at the time of filing this report, there was apprehension in the community as the invading military personnel were still in the community.
Source: Saharareporter
News
Sad! Ex- Kwara Commissioner Abdulraheem Adisa Is Dead
Ex-Kwara State Commissioner and prominent member of the Peoples Democratic Party (PDP), Abdulraheem Adisa, has passed away at the age of 91.
He died in the early hours of Thursday, according to sources in Ilorin, the state capital.
Adisa, a loyal figure in the Saraki political dynasty, had an extensive career in journalism and public service.
He served as the Editor of the News Agency of Nigeria (NAN), the General Manager of The Herald Newspapers, and as the Commissioner for Information in Kwara State. He also held the position of Chairman of Moro Local Government Area in the state.
The burial arrangements are currently underway, with the funeral scheduled for 10 a.m. at the Muslim Public Cemetery in Ilorin.
News
Stop Managing Nigeria Like Your Personal Business – Edwin Clark Blasts Tinubu
Elder statesman Edwin Clark has cautioned President Bola Ahmed Tinubu, urging him to refrain from treating Nigeria as if it were his personal outfit.
Speaking during a press conference in Abuja, Clark, a prominent Ijaw leader and elder in Nigerian politics, emphasized that the nation’s leadership must be grounded in transparency, inclusivity, and respect for democratic principles.
Clark, who has long been an influential figure in Nigerian politics, expressed deep concerns over recent policies and actions he believes favor narrow interests over the collective good. He cited the President’s economic decisions and appointments as examples of a tendency to prioritize personal or regional advantage, rather than acting in the best interests of all Nigerians.
“Nigeria is not a personal business where one person’s decisions rule unchecked,” Clark declared. “We have a democratic system in place, and the people of Nigeria expect the President to be accountable to them, not to his personal interests or those of his inner circle.”
The 86-year-old statesman also called on President Tinubu to embrace a more inclusive governance model, one that listens to the voices of all Nigerians, including opposition groups and civil society organizations. “This is not about personal power,” Clark said. “It’s about national unity, prosperity, and the future of our children.”
The call comes at a time of heightened political tension in the country, as debates over the President’s economic reforms, security strategies, and appointments continue to dominate public discourse. Critics argue that some of the administration’s policies have disproportionately benefited certain groups while leaving others behind, exacerbating existing inequalities.
In response to Clark’s comments, government officials have yet to release a statement, but supporters of the President have dismissed the remarks as part of a broader political attack aimed at undermining the administration’s legitimacy. They argue that the President’s actions are driven by a desire to modernize the economy and stabilize the nation, especially in the wake of mounting challenges such as security concerns and a faltering economy.
Despite the differing views, Clark’s warning resonates with many Nigerians who feel that their country is at a crossroads, and that leadership must be more than just a pursuit of personal power. As the nation prepares for the years ahead, calls for a government that serves all citizens, rather than a select few, continue to echo across political and social platforms.
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