News
NAIRA Bounces Back Against The USD, GBP EURO Today February 23, 2024

THE Nigerian Currency, Naira bounced back from N1,870 yesterday, February 22, 2024 to N1,700 against the USD today.
Naira also appreciated against other currencies like the GBP, EURO and others.
USD is being traded at ₦1,700 in Black Market (Lagos) today, Friday, February 23, 2024. USD has been traded at ₦1700 when Black Market opened this week on Monday, February 19, 2024. This makes it -16.99% decline for United States Dollar against Naira this week.
On this page, we are primarily focusing 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
Dollar to Naira 1700 1690
Pounds to Naira 2100 2030
Euro to Naira 1805 1790
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..
News
Court halts INEC from receiving petition to recall Natasha from Senate

The Federal High Court sitting in Lokoja, Kogi State, on Thursday, granted an interim injunction restraining the Independent National Electoral Commission (INEC) from receiving a petition to initiate a recall process against Senator Natasha Akpoti-Uduaghan from the Senate.
The Court also restricted INEC staff members, agents, privies or assigns from accepting or acting on any petition containing fictitious signatures of purported members of Kogi Central Senatorial District and conducting any referendum upon such pending the determination of the Motion on Notice to the same effect.
The court, according to the order paper made available to journalists on Friday morning, granted the application following an ex-parte application for interim injunction supported by an affidavit of wxtreme urgency together with other court processes sworn to by Anebe Jacob Ogirima for himself and four others who are registered voters and constituents of Kogi Central Senatorial District of Kogi state.
The application was moved by Smart Nwachimere, Esq of West-Idahosa, SAN & Co.
The case has been adjourned to May 6, 2025, for a report of service and further mention.
Reacting to the development, a pressure group, Action Collective, praised the judiciary for granting the order.
The group’s coordinator, Dr. Onimisi Ibrahim, said in his reaction that, “the order will further expose impunity of some sponsored individuals behind the failed plot to recall Senator Natasha.”
News
Direct Allocation Will Eradicate Poverty-ALGON

…hails Tinubu’s Emergency Rule in Rivers
The Federal Government has yet to commence direct allocation to Local Government Areas (LGAs) due to ongoing procedural processes, according to Hon. Odunayo Alegbere, Chairman of the Board of Trustees of the Association of Local Governments of Nigeria (ALGON).
Alegbere disclosed that LGAs have been instructed to open accounts with the Central Bank of Nigeria (CBN) to facilitate the implementation of direct allocation. While the process is still underway, he commended the Federal Government for its efforts, citing the Supreme Court’s ruling on financial autonomy for local governments.
He assured that direct allocation would help eliminate poverty at the grassroots by granting local governments greater control over their finances and projects.
Alegbere acknowledged that while the journey towards full financial autonomy is not yet complete, steady progress is being made. He also criticized the current system where state governments conduct local government elections, arguing that it often results in selections rather than genuine democratic processes. However, he assured that ongoing constitutional amendments by the National Assembly would soon address this issue.
“We are happy with the president, and though we have not yet reached our goal, we are making steady progress,” he stated.
The ALGON chairman emphasized that direct allocation to LGAs would help eradicate extreme poverty at the grassroots level.
“If you look at the grassroots level, the level of abject poverty is alarming. But with this new arrangement, we are confident that we will eradicate and stamp out poverty,” he said.
Alegbere also advocated for removing the State Independent Electoral Commission (SIEC) from the constitution and replacing it with a national body to oversee local government elections, ensuring a fairer process.
Alegbere linked Nigeria’s growing insecurity to the failure of the local government system. He argued that restoring local governments’ autonomy and involving traditional institutions in governance would significantly enhance security efforts.
“Unless and until we revisit the older system, addressing insecurity will remain a challenge,” he stressed.
He urged the government to integrate traditional rulers into the local government framework to strengthen grassroots security.
On the crisis in Rivers State, Alegbere commended President Bola Ahmed Tinubu for declaring a state of emergency in the state, stating that the intervention helped prevent a potential civil war.
Alegbere also addressed the claim of a fractional group to the ALGON Secretary-General position, warning that any such claimants are impostors. He reaffirmed that ALGON has a clear leadership structure and dismissed any disputes over its leadership.
He expressed optimism that the Federal Government would continue implementing the Supreme Court’s ruling and strengthening local government administration.
“We are the umbrella body of the 774 local governments in Nigeria, and we will continue to support the president in ensuring that the local government system functions effectively,” he concluded.
News
Pregnant women, infants rescued as police raid illegal maternity home in A’Ibom

By Francesca Hangeior
The Police Command in Akwa Ibom State says it has uncovered an illegal maternity home, allegedly involved in child trafficking, unlawful medical practice, and impersonation.
The state Police Public Relations Officer, Timfon John, made this known in a statement in Uyo, the state capital, on Friday.
John said that the illegal maternity home was uncovered in Usung Atiat, the Abak Local Government Area of the state.
She said the rescued women were under protective care, while investigations were ongoing to uncover other collaborators and ensure justice was served.
“Acting on credible intelligence, operatives of the command raided the premises and arrested a female, who was found harbouring seven pregnant women and five infants, aged between two weeks and one year.
“Further search led to the recovery of various medical supplies, including syringes, drip lines, herbs, and immunisation records, for which the suspect had no legal authorisation,” the PPRO said.
John reiterated the command’s commitment to dismantling illegal activities endangering vulnerable individuals.
She urged residents to remain vigilant and report suspicious activities to the nearest police station.
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