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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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Rupture In PDP Governors’ Forum deepens

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By Ojomah Austin.

 

The evolving fall-out, which comes barely days to the contentious National Executive Committee (NEC) of PDP, followed a back and forth between the Federal Capital Territory (FCT) Minister, Nyesom Wike and the Governors forum, who declared support for Rivers State governor, Siminalayi Fubara to be made leader of the party in the state.

After a meeting with some members of the party’s National Working Committee (NWC) in Bauchi on Wednesday, Governor Mohammed, said “According to our party’s constitution, any leadership vacancy should be filled by someone from the region where it originated,” stressing that Damagum would be replaced soon considering that he hails from North East and not the North Central.

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Same day, Makinde, during the groundbreaking of the upgrading of Ladoke Akintola Airport, Ibadan, to an international airport, which was attended by another set of NWC members, led by Damagum, said he would support whatever decision the Damagum-led NWC would take to reposition the party.

Damagum, who is considered a close ally of Nyesom Wike, the Federal Capital Territory (FCT) Minister, was appointed acting national chairman after the removal of Iyorchia Ayu in June 2023.

Meanwhile, the Board of Trustees (BoT) of the PDP led by Senator Adolph Wabara, met with members of the National Assembly caucus in Abuja.

The close door meeting comes barely hours after the BoT met with Wike in Abuja.

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While Wabara refused to comment on the essence of the meeting with the lawmakers, it was noticed that most of the lawmakers didn’t honour the invitation.

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Tears As Man Takes Own Life Over Tinubu’s Govt Hardship

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By Mario Deepromoter

Sad development in Marika village, Kiyawa Local Government, Jigawa, where a 40-year-old man, Jibrin Adamu, committed suicide by hanging himself.

According to eyewitnesses, Adamu’s lifeless body was discovered in a classroom at Miftahul Khairat Islamiyya and Primary School Gurdiba on Thursday.

Police spokesperson DSP Lawan Shiisu Adam confirmed the incident, stating that preliminary investigations revealed Adamu had struggled with mental health issues.

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“Police received a report on Thursday that at about 1830hrs, a tragic incident was reported at the Command headquarters that one Jibrin Adamu ‘m’ age 40yrs of Jigawar Maroka village, Kiyawa LGA has committed suicide by hanging himself over the ceiling at Islamiyya school,” the Police spokesperson told Daily Post.

The Jigawa State Commissioner of Police, CP AT Abdullahi, has instructed officers to conduct a thorough investigation into the incident.

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Just in: Dangote Petrol Now Available at N765.99 Per Litre

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By Mario Deepromoter

11plc, Total Energies, AA Rano, and other marketers have begun lifting Dangote Petrol through Nigerian National Company (NNPC) Trading Limited for N765.99 to retail outlets nationwide.

Findings showed some petroleum marketers who were able to complete their payment process on the NNPC trading payment portal commenced the lifting of petrol earlier this week under the existing agreement between marketers and the refinery.

Tunji Oyebanji, managing director, 11Plc confirmed to BusinessDay on Thursday evening that some marketers have started lifting the products at N765.99 from Dangote Refinery through NNPC who remain the sole off-taker of product.

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“We were among the first marketers to complete the payment on the NNPC portal. We have no direct arrangement with the refinery,” Oyebanji said.

It was gathered that NNPC Retail, 11plc, Total Energies, A.A Rano are among the marketers that have picked up products from the refinery.

He added, “We don’t know the contractual financial arrangement between NNPC and the refinery but what I can confirm is we are buying at N765.99 from NNPC to lift Dangote petrol”.

Efforts to get the Independent Petroleum Marketers Association of Nigeria (IPMAN) to confirm if its members have picked up products at the Dangote Refinery proved abortive at the time of writing this report.

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See also Nigeria’s Petrol Landing Cost Revealed
Adedapo Segun, executive vice-president, downstream at NNPC said marketers cannot purchase petrol directly from the refinery because the product is still sold at a subsidised rate.

“That is the same thing happening with Dangote. I said earlier that Dangote is a company and it is going to sell at market price,” he told Journalists.

According to Segun, “The market value of PMS is still higher than what N766 or N765 or N799 that NNPC is selling.

“The situation has not changed there. So, NNPC’s off-taking is only because the others would not buy at the price Dangote will be willing to sell, which is reasonable.

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“As soon as the price allows for it, you will see the marketers go to Dangote and buy.”

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