News
SEE Dollar to Naira Exchange Rate at Black Market ( July 3, 2024: USD to NGN CBN Rate

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx) Today July 3, 2024?
Many Nigerians, especially those engaged in foreign trade, travel, and investment, have always been very interested in and concerned about the exchange rate between the US dollar and the Nigerian naira.
The parallel market, also known as the black market or Aboki FX, often offers a different rate from the official Central Bank of Nigeria (CBN) rates.
For many, this is a critical source of foreign exchange. See the black market Dollar to Naira exchange rate for July 3, 2024, below. At these rates, you can exchange your dollar for Naira.
How much is a dollar to naira today in the black market? Dollar to naira exchange rate at black market Yesterday (Aboki dollar rate): The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market), yesterday, July 2, 2024, players buy a dollar for N1500 and sell at N1505 according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks. Dollar to Naira Black Market Rate Today July 3, 2024 Dollar to Naira (USD to NGN) Black Market Exchange Rate Today Buying Rate N1510 Selling Rate N1515 Dollar to Naira CBN Exchange Rate The Central Bank of Nigeria sets the official exchange rates, providing stability through government regulation. As of now, the rates are: Dollar to Naira CBN Rate Today Dollar to Naira (USD to NGN) CBN Rate Today Buying Rate N1548 Selling Rate N1549
These rates reflect government policies aimed at stabilizing the naira and managing foreign exchange reserves. Businesses and individuals that prefer regulated transactions frequently rely on these rates. Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary. Dollar to Naira Exchange Rate at Black Market (Aboki FX) July 2, 2024: USD to NGN CBN Rate
Pounds and Euro to Naira Exchange Rates For those dealing with currencies other than the US dollar, here are the latest rates: Pounds to Naira (CBN Rates) Buying Rate: ₦1,963 Selling Rate: ₦1,963 Euro to Naira (Black Market Rates) Buying Rate: ₦1,662 Selling Rate: ₦1,665 These rates are also subject to market conditions and economic policies. Geegpay and Grey: online Exchange Platforms
Digital platforms like Geegpay and Grey offer convenient and secure options for currency exchange, providing competitive rates. Geegpay Dollar to Naira Rates EUR (€): Buying at ₦1,690.03, Selling at ₦1,695.55 GBP (£): Buying at ₦1,950, Selling at ₦1,965 USD ($): Buying at ₦1,480, Selling at ₦1,550 Grey Dollar to Naira Rates EUR (€): Buying at ₦1,640.03, Selling at ₦1,719 GBP (£): Buying at ₦1,902, Selling at ₦2,015 USD ($): Buying at ₦1,460, Selling at ₦1,500 These platforms have gained popularity due to their ease of use, transparency, and security, making them viable alternatives to traditional methods. Factors Influencing Black Market Rates Understanding the factors that influence the dollar to naira exchange rate in the black market can help anticipate changes and make better financial decisions.
Economic Policies Government policies significantly impact exchange rates. Decisions on interest rates, inflation control, and foreign exchange regulations by the Central Bank of Nigeria (CBN) directly affect the naira’s value. For instance, when the CBN adjusts policies to manage inflation or stabilize the naira, it impacts the exchange rate. Supply and Demand The availability of foreign currency versus the demand for it plays a crucial role. When foreign currency is scarce or demand is high, the naira depreciates, leading to higher exchange rates. Conversely, an abundant supply of dollars can lead to lower rates.
Political Stability Geopolitical events and internal political stability affect investor confidence. Political unrest or uncertainty can cause the naira to depreciate as investors move towards safer assets. Stability and positive political developments, on the other hand, can strengthen the naira. Global Economic Conditions Global market conditions, such as shifts in oil prices (a major export for Nigeria), international economic trends, and global inflation rates, influence the naira’s value. For example, a significant drop in oil prices can negatively impact Nigeria’s economy and the naira. Comparing Official and Black Market Rates There is a significant disparity between official and black market rates. The black market offers higher rates, but with substantial risks such as fraud and legal issues. The CBN advises using official channels to avoid these risks. Official rates are stable and reliable, making them suitable for the majority of transactions.
Why the Disparity Between Official and Black Market Rates? The disparity between the official CBN rates and the black market rates is influenced by several factors: Supply and Demand: The availability of foreign currency in the official market is often limited, leading individuals and businesses to seek forex in the black market where demand drives up prices.
Regulatory Restrictions: The CBN imposes restrictions on the amount of forex available for personal and business use, making it difficult for many to meet their needs through official channels. Economic Instability: Fluctuations in oil prices, inflation, and economic policies can create uncertainty, prompting people to turn to the parallel market for more favorable rates. Impact of Black Market Rates on the Economy
The high exchange rates in the black market can have various implications for the Nigerian economy: Inflation: Higher costs for imported goods can drive up prices locally, contributing to inflation. Investment: Unfavorable exchange rates can deter foreign investment as investors seek more stable economic environments. Trade: Exporters may benefit from higher naira values per dollar, while importers face increased costs, potentially leading to trade imbalances. How to use the parallel market For those needing to engage in forex transactions through the black market, safety and caution are paramount. Here are some tips:
Verify Rates: Always check the latest rates from reliable sources like Aboki FX to ensure you get the best deal. Deal with Reputable Dealers: Engage with well-known and trusted Bureau De Change operators to avoid scams. Stay Informed: Keep abreast of economic news and CBN policies that could affect exchange rates. FAQs on dollar naira exchange rate black market How much is a dollar to naira today in the black market? The buying rate is N1495, and the selling rate is N1500 as of June 23rd, 2024. Why does the black market offer higher rates than the CBN? The black market rates are driven by supply and demand dynamics, regulatory restrictions, and economic instability. Is it legal to trade forex in the black market? While the CBN discourages it, many engage in the black market due to the unavailability of sufficient forex through official channels. What are the risks of trading in the black market? Risks include fluctuating rates, potential scams, and the legal gray area of such transactions. Can the CBN influence black market rates? The CBN can influence these rates through monetary policy, forex interventions, and regulatory measures, but direct control is limited. How often do black market rates change? Rates can change on a daily or even multiple times per day, depending on market conditions and economic news. Conclusion on the Dollar-Naira Exchange Rate Black Market
The dollar to naira exchange rate at the black market reflects a complex interplay of economic factors, regulatory frameworks, and market dynamics. While it offers a critical alternative for many Nigerians seeking forex, it also underscores the challenges and opportunities within Nigeria’s broader economic landscape. Staying informed and cautious can help navigate this often volatile market effectively. Non-Bank Transactions Surge Threatens West Africa’s Financial Stability – Cardoso Yemi Cardoso, Governor of the Central Bank of Nigeria, has raised alarms about the rising volume of transactions by non-bank and Other Financial Institutions (OFIs), warning that this trend threatens West Africa’s financial stability. Speaking at the 10th meeting of the College of Supervisors for Non-Bank Financial Institutions in Abuja, Cardoso emphasized the vital role of non-bank financial institutions in promoting financial growth and inclusion in the West African Monetary Zone (WAMZ). Non-bank financial institutions provide essential services to underserved populations, including SMEs, without accepting deposits like commercial banks. Cardoso praised the adoption of the Model Act for Non-Bank Financial Institutions, a legislative milestone aimed at harmonizing supervisory practices across the WAMZ. Highlighting fintech innovations, Cardoso noted the rise in fintech loans, crypto, and stablecoin assets. He stressed the importance of monitoring these trends, as their increasing volumes pose significant risks to financial stability. Cardoso urged supervisors to bolster cybersecurity frameworks and adopt risk-based supervisory approaches to mitigate these risks. Yaw Sapong, Chairman of the College, highlighted the role of non-bank financial institutions in fostering financial inclusion and economic growth, calling for coordinated policy responses to current challenges. Dr. Olorunsola Olowofeso, Director General of WAMI, emphasized the need for resilience in the financial sector against emerging risks such as cyber threats and climate-related issues
The CSNBFI meeting aims to review progress in the NBFI sector and strategize on addressing current challenges, focusing on regulatory harmonization, cybersecurity, and the impact of digital innovations on financial services.
News
World Athletics Relay: China Denies Blame in Nigerian Athletes’ Withdrawal Over Visa Issues

By Kayode Sanni-Arewa
The Embassy of China in Nigeria has pushed back against claims that visa delays were responsible for Nigerian athletes’ withdrawal from the upcoming World Athletics Relays in Guangzhou, China.
In response to reports and a public statement by the Athletics Federation of Nigeria (AFN), which cited delays in visa processing as the reason for the country’s withdrawal from the event scheduled for May 10–11, the Chinese Embassy released a detailed clarification asserting that it acted swiftly and professionally to facilitate the process.
According to the Embassy, it received a formal request for visa support from Nigeria’s National Sports Commission on April 24—two weeks before the competition—following a letter dated April 22. The embassy stated that it immediately communicated with the Commission and provided guidance on required documentation.
The visa application materials were submitted to the China Visa Application Centre on May 6, the embassy noted. In response, it activated expedited procedures and completed visa issuance by May 8, just two days later.
“The Embassy of China in Nigeria has always actively supported people-to-people and sports cooperation between the two countries,” the statement read. “We have consistently assisted Nigerian citizens in visa applications in an efficient and professional manner.”
The Embassy also underscored that visa issuance is a matter of national sovereignty and requires applicants to follow standard procedures and timelines. It described the AFN’s statement as “clearly inconsistent with the facts.”
News
New NUJ FCT Officers Urged to Uphold Welfare, Integrity and Transparency

By Gloria Ikibah
Chairman of the Nigeria Union of Journalists (NUJ) in the Federal Capital Territory (FCT), Comrade Grace Ike, has charged newly elected executive members to prioritise journalists’ welfare and uphold values of accountability, integrity, and professionalism.
Speaking after the swearing-in of the new officers on Saturday, Comrade Ike reminded them that service in the union demands unity, transparency, and a firm commitment to ethical journalism.
“This union stands on the pillars of welfare, integrity and professionalism. You have been chosen to serve, not to be served,” she said.
The by-election, held to fill three vacant positions unoccupied since the last NUJ-FCT elections on December 4, 2024, saw 54 accredited members cast their votes in a peaceful atmosphere.
Comrade Sharon Emephia of the Correspondents Chapel emerged as Assistant Secretary with 52 votes, while Comrade Daniel Henry Abimiku from the Information Chapel secured the Financial Secretary position with 52 votes as well, and Comrade Ukoko-Tega of Aso Radio/TV Chapel was elected Internal Auditor, also polling 52 votes. A few ballots were declared invalid in each category.
Chairperson of the election committee and Chairman of the National Association of Women Journalists (NAWOJ), Comrade Bassey Ita Ikpang, announced the results alongside committee members Comrade Tony Akowe and Comrade Nkechi Onyeneke. The winners were administered the oath of office by Barrister Ehidiamen Isibor and issued certificates of return.
Comrade Ike commended the electoral committee for conducting a transparent process and thanked union members for their active participation. She officially dissolved the committee following the successful completion of its assignment.
The current leadership of the NUJ-FCT also includes Vice Chairman Comrade Ndambabo Yahaya, Secretary Comrade Jide Oyekunle, Treasurer Mrs. Sandra Udeike, and Ex-Officio member Comrade Ebriku John Friday.
News
Trouble brewing as Trump’s supporters move against Pope Leo, give reason

Catholicism has rarely been more prominent in US politics as the Trump administration openly embraces advisers and officials who proudly say faith has shaped their politics.
But any jubilation on the American Make America Great Again right about the new Pope this week quickly dissipated as key voices from Donald Trump’s Maga movement came to a disappointed conclusion: the first American Pope does not appear to be “America first”.
Little is known about the political leanings of Pope Leo XIV, born Robert Francis Prevost in Chicago.
He has voiced concerns for the poor and immigrants, chosen a name that may reference more liberal church leadership, and he appears to have both supported the liberal-leaning Pope Francis and criticised the US president’s policies on social media.
But the president so far has said only that Leo’s election was a “great honour” for the US. Still, some of Trump’s most prominent supporters were quick to attack Pope Leo, lambasting him as a possible challenge to Trump and on the perception that he will follow Pope Francis in areas like immigration.
“I mean it’s kind of jaw-dropping,” Trump’s former chief strategist Steve Bannon told the BBC on Friday, speaking of Leo’s election.
“It is shocking to me that a guy could be selected to be the Pope that had had the Twitter feed and the statements he’s had against American senior politicians,” said Bannon, a hard-right Trump loyalist, practising Catholic and former altar boy.
And he predicted that there’s “definitely going to be friction” between Leo and Trump.
The Pope’s brother, John Prevost, told The New York Times that he thinks his brother would voice his disagreements with the president.
“I know he’s not happy with what’s going on with immigration,” he said. “I know that for a fact. How far he’ll go with it is only one’s guess, but he won’t just sit back. I don’t think he’ll be the silent one.”
Recent survey data shows that about 20% of Americans identify as Catholic, according to the non-partisan Pew Research Center.
About 53% identify with or lean towards the Republican Party, though there’s plenty of nuance, too: America’s two Catholic presidents, John F Kennedy and Joe Biden, were both Democrats. And nearly two-thirds of US Catholics believe abortion should be legal in all or most circumstances – a departure from the Church’s current stance.
US Catholics also broadly supported Pope Francis: 78% of those surveyed in February viewed him favorably, including a majority of Catholic Republicans.
A number of Catholics In the new Pope’s home city of Chicago, on Thursday, aired disappointment with President Trump and said they hoped Pope Leo XIV would follow the path of his predecessor.
“We hope he’ll continue with Francis’s agenda going forward,” said Rick Stevens, a Catholic deacon from New Jersey who happened to be visiting Chicago when he heard the news.
The US Conference of Catholic Bishops, which leads and coordinates US Catholic activities, celebrated Pope Leo’s election and the message it sends.
“Certainly, we rejoice that a son of this nation has been chosen by the cardinals, but we recognise that he now belongs to all Catholics and to all people of good will,” the conference said in a statement. “His words advocating peace, unity, and missionary activity already indicate a path forward.”
Though Maga supporters represent a small subset of US Catholics, it’s one with outsized access to conservative media and Trump’s ear.
On Bannon’s War Room podcast – known for its hard-right, pro-Trump bent – one guest after another heaped criticism on the new Pope.
“This guy has been massively embraced by the liberals and the progressives,” said Ben Harnwell, a journalist who led Bannon’s efforts to establish what he calls a “gladiator school” for the “Judeo-Christian West” outside of Rome.
“He is one of their own… he has [Pope] Francis’s DNA in him,” Harnwell said.
Jack Posobiec, another Maga commentator dialing in from Rome, was blunt: “This choice of the American cardinal was done as a response, as a message to President Trump.”
The full picture of what led to Pope Leo’s selection on Thursday is still emerging and church decisions don’t map neatly onto US politics. Still, watchers around the world have pored over Pope Leo’s social media profiles in search of clues about his leanings and beliefs.
An X account under his name, with tweets going as far back as 2015, shares links to criticism of Trump’s approach to immigration and hints at other political views, such as stricter gun control.
In February, the account sharply rebuked the US vice-president by posting a link to an opinion piece titled “JD Vance is wrong: Jesus doesn’t ask us to rank our love for others”.
The account also posted a link to a letter from Pope Francis after he clashed with Vance over church doctrine and immigration. Vance – a Catholic convert – had given an interview in defence of the Trump administration’s immigration policies.
Vance has routinely invoked his faith in defense of the administration, particularly immigration policies, which the White House has said put “America first”.
“There is a Christian concept that you love your family and then you love your neighbour, and then you love your community, and then you love your fellow citizens, and then after that, prioritise the rest of the world. A lot of the far left has completely inverted that,” Vance told Fox News.
But US Democrats were not spared either on the account, which has more than a decade of posts. They appear to support Catholic employers who refuse to pay for contraceptives via employee health plans, and following the 2016 US presidential election, one post links to an article accusing Democrat Hillary Clinton of ignoring pro-life Catholic voters.
The BBC asked the Vatican to confirm the account was Leo’s, but did not receive a response.
Vice-President Vance told conservative broadcaster Hugh Hewitt on Friday: “I try not to play the politicisation of the Pope game.
“I’m sure he’s going to say a lot of things that I love. I’m sure he’ll say some things that I disagree with, but I’ll continue to pray for him and the Church despite it all and through it all, and that’ll be the way that I handle it.”
The new Pope’s LGBTQ views are also unclear, but some groups, including the conservative College of Cardinals, believe he may be less supportive than Pope Francis.
Matt Walsh, a commentator with the conservative Daily Wire, wrote: “There are some good signs and bad signs with this new Pope. I want to see what he actually does with his papacy before I pass any kind of judgment.”
But some of the most dedicated Maga supporters already have made up their minds.
Laura Loomer, a far-right influencer who has Trump’s ear, swaying the president on top personnel decisions, called the new Pope “anti-Trump, anti-Maga, pro-open Borders, and a total Marxist like Pope Francis”.
Bannon, who had suggested Leo as a dark horse for the papacy, predicted tensions between the White House and Vatican – and said they could even tear apart American Catholics.
“Remember, President Trump was not shy about taking a shot at Pope Francis,” he said.
“So if this Pope – which he will do – tries to come between President Trump and his implementation of the mass deportation programme, I would stand by.” BBC
-
News15 hours ago
Defections: It’s a massive betrayal against NNPP -Kwankwaso cries out
-
Education17 hours ago
Teenage girl drag JAMB to court over alleged hijab ban during UTME
-
News20 hours ago
TInubu admits taking tough decisions to enable Nigeria grow
-
News11 hours ago
How doctor stole one of my twins during birth, Abuja housewife narrates nasty experience
-
News20 hours ago
Court orders blood transfusion for two-year-old girl despite her parents’ objections
-
News19 hours ago
Introducing Ebule Oritsemeyiwa, a 16-yr-old who scored 334 in 2025 UTME
-
News8 hours ago
Trouble brewing as Trump’s supporters move against Pope Leo, give reason
-
News21 hours ago
Why I Issued ‘Mock’ Apology To Akpabio – Natasha