News

Black Market Dollar To Naira Exchange Rate Today Sunday 16 June 2024

Published

5 months ago

June 16, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

SEE Black Market Dollar To Naira Exchange Rate Today Sunday 16 June 2024 Can Be Accessed Below.

NOTE PL: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at a certain rate and the price can change (high or low) within hours.

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.

What is the dollar to naira exchange rate today?

The local currency (abokiFx) opened at ₦1,550 per $1 at the parallel market otherwise known as the black market, today, Sunday, 16 June 2024, in Lagos Nigeria, after it closed at ₦1,530.00 per $1 on Saturday, 15 June 2024.

Dollar to Naira (USD to NGN)

Black Market

Exchange Rate Today

Buying Rate of $1 ₦1500

Selling Rate of $1 ₦1,550

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, 16 June 2024, is N1500 per US dollar.

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.

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.

Disclaimer: 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

HoR to Hold Interactive Session on Executive Tax Return Bills

Published

4 hours ago

November 17, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives is set to host an internal Interactive Session on the four Executive Tax Reform Bills currently before the National Assembly, on Monday, November 18, 2024, in Abuja.

This was contained in a statement by the House Spokesman, Rep. Akin Rotimi, on Sunday in Abuja.

According to him, this initiative, championed by the House Leadership, underscores our commitment to ensuring robust engagement and informed legislative action on critical policy reforms.

The statement reads in part: “It aims to provide Members of the House with a platform to engage directly with the principal promoters of the tax reform bills from the Executive arm of government.

“Thus, this engagement will enable Honourable Members seek clarifications, pose critical questions, and gain deeper insights into the proposed reforms. Such understanding is vital to strengthening the legislative process and enhancing Members’ contributions to the deliberations on these bills.

“Recognising the national significance of the proposed reforms and their implications for fiscal policy and governance.

“The 10th House of Representatives remains committed to its mandate of advancing the nation’s development through transparent, inclusive, and informed legislative processes.

“The public is invited to note that while this is an internal interactive session, it does not foreclose the customary public hearing—a crucial step in the lawmaking process. At such hearings, members of the public are provided with an opportunity to gain deeper insights into legislative proposals and make meaningful inputs aimed at shaping effective reforms”, Rotimi stated.

News

FG Commends Governor Bago For Intervention In Federal Road Projects Across The State

Published

4 hours ago

November 17, 2024

Gloria Ikibah

By Gloria Ikibah

The Federal Government has commended Niger State Governor, Mohammed Umaru Bago, for his intervention in several federal road projects across the state.

Minister of Works, Senator David Umahi, gave the commendation during an interactive session in Abuja with Niger State Government, and contractors handling various federal road projects in the state, to reviewed ongoing federal road projects in Niger with the goal of addressing outstanding issues.

Umahi praised the Governor’s efforts, calling them “unprecedented,” and acknowledged his exemplary leadership in personally leading the state delegation to the meeting, this is even as he urged other state governors to follow the example set by Governor Bago, emphasizing the importance of effective and continuous project supervision.

The Minister also stressed the need for improved collaboration between federal legislators and the Ministry to ensure sufficient funding for the execution of these projects, and warned contractors to adhere strictly to project specifications, stating that failure to do so would result in contract termination.

The Minister of State for Works, Bello Goronyo, who also lauded Governor Bago, described him as a hardworking and passionate leader, and highlighted that the Governor’s people-oriented programs reflect his deep commitment to the wellbeing of his constituents.

In his remarks the Niger Governor revealed that the state government is intervening in 18 federal road projects, aimed at complementing President Bola Ahmed Tinubu’s Renewed Hope agenda.

Bago suggested that such peer reviews should occur quarterly and encouraged his fellow governors to participate, as it would motivate the Federal Government to further support the people.

The Governor also applauded the Minister of Works for his courage, capacity, and competence in managing his responsibilities.

News

#OndoDecides2024: APC congratulates Aiyedatiwa, applauds Ondo electorate

Published

9 hours ago

November 17, 2024

Naijablitznews

By Francesca Hangeior

The All Progressives Congress has congratulated the Ondo State Governor, Lucky Orimisan Aiyedatiwa, on his re-election in the just-concluded governorship election.

Aiyedatiwa won the election, having polled a total of 366,781 votes across all 18 Local Government Areas of the state.

He defeated his closest rival — Agboola Ajayi of the Peoples Democratic Party, who got 117,845 votes.

In a statement issued by the APC National Publicity Secretary, Felix Morka, on Sunday, and made available to PUNCH Online, the party described Aiyedatiwa as a “clear attestation” that his administration’s policies “resonated deeply with the electorate.”

The statement read, “The All Progressives Congress (APC) heartily congratulates the Governor of Ondo State, His Excellency, Lucky Orimisan Aiyedatiwa, on his re-election.

“Your Excellency’s resounding victory in the just-concluded Ondo State gubernatorial election is a clear attestation that your administration’s policies and programmes and campaign message of hope and consolidation have resonated deeply with the electorate.