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SEE Black Market Dollar To Naira Black Exchange Rate Today 12th August 2024

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By Kayode Sanni-Arewa

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 remember that the rate can shift (either upwards or downwards) within hours.

What is the Dollar to Naira Exchange rate at the black market?

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The local currency (abokiFx) opened at ₦1,610.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 12 August 2024, in Lagos Nigeria, after it closed at ₦1,600.00 per $1 on Sunday, 11 August 2024.

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate ₦1,600
Selling Rate ₦1,610
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, 12 August 2024, is ₦ 1,560 per US dollar.

1 USD = 1560.2985 NGN
1 Dollars = 1560.2985 Nigerian Naira
The USDNGN rate as of 12 Aug 2024
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.

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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 confidence level in the naira and the CBN’s policies.

NOTE: We do not set or determine forex rates. 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 differ from what is captured in this article.

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First Lady denies leading national prayer

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The First Lady, Mrs Oluremi Tinubu, on Saturday, refuted reports that she will be leading a seven-day national prayer for Nigeria.

This followed a report last week that Mrs Tinubu and the National Security Adviser, Mrs Nuhu Ribadu, will spearhead a national prayer session to tackle the country’s numerous challenges.

The reports quoted the Director-General of the National Prayer Forum, Segun Afolorunikan, announcing the event in Abuja.

Afolorunikan had said the initiative, coordinated with Christian and Muslim religious leaders, intends to seek divine intervention for the country’s socio-economic and security issues, under the theme ‘Seeking the Intervention of God in Nigeria’s Affairs.’

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“Christians will meet at the National Ecumenical Centre for a week of intense prayer, with prayer warriors from various denominations focusing their efforts on the nation’s adversities,” said the convener.

However, the First Lady has denied knowing any such arrangement saying a call for prayer must be done “willingly, conscientiously and correctly.”

Mrs Tinubu’s Senior Special Assistant on Media, Mrs Busola Kukoyi, conveyed this in a statement she signed Saturday titled ‘First Lady of Nigeria Oluremi Tinubu, CON refutes organising national prayer.’

It read, “This is to clarify and inform the general public that the First Lady of Nigeria is not organising a national prayer.

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“The news making rounds in some conventional and social media platforms is unfounded and misleading.

“Consequently, anyone who might have come across the purported news of the joint National Prayer for Nigeria should disregard it as false.”

Kukoyi said the First Lady, a Christian and strong advocate of prayer and praying for Nigeria, believes that prayer is an act that must be done willingly, conscientiously and correctly.

“She also believes that praying for Nigeria is the responsibility of every Nigerian, irrespective of religious belief, political affiliation, tribe or tongue.

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“Members of the public are advised to verify the authenticity of any news or event involving the First Lady of Nigeria or her office through official channels,” the statement concluded.

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25 Shops destroyed as fire guts building in Ilorin

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A building of 25 shops has been gutted by fire in the early hours of Saturday in Ilorin, the Kwara state capital.

According to the state fire service, the incident occurred at Adeta roundabout at about 02.39 hours.

A statement in Ilorin on Saturday by the spokesman of the service, Hassan Adekunle, said the firefighters, upon arrival, found a block of about 25 shops engulfed in flames.

“Thanks to the swift action and bravery of the Kwara State fire service officers, only three shops suffered damage, including a soft drinks and alcohol shop.

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“Preliminary investigations indicated that the fire was caused by a power surge,” the statement disclosed.

The Director of the State Fire Service, Prince John Falade Olumuyiwa, expressed sympathy for the affected shop owners, offering prayers for the restoration of their losses.

He also urged the public to prioritize safety and ensure all electrical appliances are unplugged when not in use.

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New terror group Lakurawa offers N1m incentives to recruit Sokoto youths + Video

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The newly emerged terror group known as Lakurawa, is reportedly offering as much as one million naira to young men in exchange for their allegiance.

This was made known on Saturday by Zagazola Makama, a Lake Chad Basin counterterrorism and insurgency expert, in a post on his X handle.

Makama disclosed that an impeccable source informed him that Lakurawa, allegedly composed of individuals from Mali, Chad, Libya, Niger, and Burkina Faso, was actively recruiting local youths in Sokoto through substantial financial incentives.

He stated that according to witnesses’ accounts, the financial lure is part of an aggressive recruitment campaign aimed at attracting followers to their cause.

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The security expert said that Lakurawa, unlike traditional criminal gangs, reportedly adhere to extremist ideologies linked to the Khawarij sect, similar to the beliefs of Boko Haram.

Makama added: “Local sources suggest that they employ a combination of financial incentives and ideological influence to gain support among vulnerable communities.

“Beyond the recruitment, the Lakurawa reportedly confront and expel bandits and confiscate their cattle in areas under their control.

Watch video below:

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https://twitter.com/ZagazOlaMakama/status/1855319733282758848?ref_src=twsrc%5Etfw

 

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