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SEE Black Market Exchange Rate For Dollar To Naira Today: April 26th, 2024

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SEE Black Market Exchange Rate For Dollar To Naira Today: April 26th, 2024

In the quest for the latest updates on the Dollar to Naira exchange rate, seekers often turn their attention to the black market, also known as the parallel market. But what’s the story for today, April 26th, 2024?

For those curious about the current dollar to naira exchange rate in the black market, commonly referred to as “Aboki fx,” here’s the scoop. Take a look at the black market Dollar to Naira exchange rate for April 25th:

How Much is a Dollar to Naira Today in the Black Market? Diving into specifics, at the Lagos Parallel Market (Black Market), players purchased a dollar for N1380 and sold it at N1420 on Thursday, April 25th, 2024, as confirmed by sources at the Bureau De Change (BDC).

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It’s essential to remember that while the black market remains a significant player in currency exchange, the Central Bank of Nigeria (CBN) does not officially recognize it. Instead, the CBN directs individuals seeking forex transactions to approach their respective banks.

 

Current Black Market Exchange Rates:

Buying Rate: N1380
Selling Rate: N1420
Meanwhile, it’s worth noting the CBN’s rates for comparison:

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CBN Buying Rate: N1329
CBN Selling Rate: N1330
Be mindful that the rates for buying or selling forex can fluctuate, so the figures presented here might not precisely reflect the current market rates.

In another development, the CBN has initiated the sale of fresh dollars to Bureau De Change (BDC) operators at ₦1,021/$1. This marks the second sale this month and the fourth this year, emphasizing the CBN’s efforts to address retail-end market needs, such as travel allowances, tuition fees, and medical payments.

Under this policy, eligible BDCs can access a total of $10,000 each, ensuring a maximum markup of 1.5% over the buying price. This measure aims to prevent price gouging and ensure that consumers reap the benefits of the discounted rate for their personal forex transactions.

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Minimum Wage: Nigeria Labour Congress In Enugu, Oyo, Kaduna, 11 Other States To Commence Indefinite Strike

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President Bola Tinubu in July signed the new Minimum Wage Act into law to increase the minimum monthly salary in the country from N30,000 to N70,000.

The leadership of the Nigerian Labour Congress(NLC) has directed workers in 14 states to embark on an indefinite strike from Monday over the non-implementation of the new minimum wages and the payment of old salaries.

This was after the government, the organised labour and the private sector concluded months-long negotiations on the minimum wage when Tinubu haggled down labour’s N250,000/month demand to N70,000/month.

Since the enactment of the new law barely six months ago, only 23 states, excluding Federal Capital Territory(Abuja), have domesticated the law.

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In a press statement issued on Friday, NLC said: “Recall that the NEC of 8th November 2024 in Portharcourt directed that industrial action to compel implementation of the new national minimum wage should commence in any state that has not complied by the end of November 2024. This position was reinforced by the CWC in Kano on the 27th of November 2024.

“Flowing from the above it is our information that some states have not commenced the said implementation as workers are still being paid on the old structure and there is no subsisting agreement to show a date of commencement of implementations They are as follows: Abia, Akwa Ibom, Ebonyi, Ekiti, Enugu, Federal Capital Territory, Imo, Nasarawa, Kaduna, Katsina, Oyo, Sokoto, Yobe and Zamfara states.

“We therefore request that you direct your state councils in the following states to proceed on the said needed actions to compel the implementation as resolved by the NEC & CWC.

“Please do oblige us with copies of your letters to your state councils in this regard for effective mobilisation.”

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Race To Presidency Of AfDB Hots Up As Amadou Hott’s Candidacy Is Officially Announced

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The race to the presidency of the African Development Bank (AfDB) has began in earnest as the Government of Senegal, through the Ministry of African Integration and Foreign Affairs, on Thursday, announced the official launch of the candidacy of Mr. Amadou Hott for the presidency of the bank.

BIGPEN NIGERIA (https://bigpenngr.com) reports that this official launch ceremony, which marks a major milestone for Senegal’s commitment to pan-African development, was held on Thursday, November 28, 2024, at 4 p.m., at the Terrou-Bi Hotel, under the effective leadership of Her Excellency Mrs. Yassine Fall, Minister of African Integration and Foreign Affairs.

After 60 years of remarkable progress, the African Development Bank has established itself as Africa’s leading development finance institution, thanks to the visionary leadership of its successive presidents.

The current presidency, Dr. Akinwumi Adesina, has also achieved unprecedented results in development impact and capital growth.

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Mr. Amadou Hott strongly contributed to this success under the guidance of Dr. Adesina, first as inaugural vice president of the Power, Energy, Climate Change and Green Growth Complex (2016-2019), and then as Special Presidential Envoy for the Alliance for Green Infrastructure in Africa (2022-2024).

With over 25 years of strong and diverse experience, combining investment banking, development banking, sovereign wealth fund management and public policy, Mr. Hott embodies a bold and inclusive vision to address the current and future challenges of the African continent. Former Minister of Economy, Planning and Cooperation of Senegal (2019-2022), he is a well renowned economist and financial expert with a deep understanding of the issues facing stakeholders, including governments and the private sector.

Through this nomination, Senegal seeks to contribute to the institution’s mission by proposing a competent, visionary and pragmatic leader who can help accelerate the implementation of Africa’s transformative projects and programs. This initiative further aims to enhance African integration, fostering sustainable and inclusive growth that generates employment while creating broader economic opportunities, with a particular focus on youth and women.

According to the statement, the official launch is tailored to inform the public about the candidacy of Mr. Amadou Hott and the support of the Government of Senegal, enhance the candidate’s assets and vision for the Bank as well as mobilize national and international support for this major bid’

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The statement said that “with this candidacy, Senegal expresses its commitment to actively contribute to Africa’s economic and social transformation while enhancing the African Development Bank’s capacity for driving sustainable prosperity for Africa. The government therefore invites all African and international partners to join in this shared vision of building a strong, united and prosperous continent for current and future generations”.

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WAR against scam: FG arraigns 130 foreigners, others for alleged cybercrime

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The Federal Government will on Friday arraign 130 suspects comprising 113 foreign nationals (87 males and 26 females), predominantly of Chinese and Malaysian origin, and their 17 Nigerian collaborators (4 males and 13 females) for their alleged involvement in high-level cybercrimes, hacking, and activities that threaten national security.

The Nigeria Police Force had arrested the suspects in an operation that was conducted through a coordinated raid on a building at the Next Cash and Carry area of Jahi, Abuja, reports Channels TV.

The suspects were reportedly using computers and other sophisticated devices to facilitate criminal activities.

The operation which was led by the Assistant Inspector-General of Police for Zone 7 Headquarters, Abuja, AIG Benneth Igweh, on Saturday, 3rd November 2024, comprised officers of the Nigeria Police Force Zone 7 Command Abuja and the National Cyber Crime Centre (NPF-NCCC).

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The suspects are to be arraigned before Justice Ekerete Akpan of the Federal High Court.

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