News

SEE Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today

Published

3 months ago

August 16, 2024

By Kayode Sanni-Arewa

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1596 and sell at N1600 on Thursday 15th August 2024, 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*

Dollar to Naira (USD to NGN)

Black Market
Exchange Rate Today

Buying Rate N1596

Selling Rate N1600

*Dollar to Naira CBN Rate Today*

Dollar to Naira (USD to NGN)

CBN Rate Today

Buying Rate N1579

Selling Rate N1580

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

News

Reps Quiz Health Minister Over Controversial Concession Agreements, PPPs

Published

22 mins ago

November 5, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has directed the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, to submit relevant documents including evidence of advertisement of Public Private Partnerships/concession/lease, expression of interest on leases made as well as specific achievements recorded by the Ministry.

The House Committee Committee on Public Assets and Special Duties also queried the BioVaccines Nigeria Limited, which is a joint venture between the federal government and May and Baker in 2007 and other partnerships by the Ministry.

Deputy Chairman of the Committee, Rep. Dabo Haruna, who initially was the presiding offier, gave the directive during an investigative hearing held in Abuja.

The Committee of the Chairman, Rep. Ademorin Kuye, who gave the directive also directed that the Minister provide the documents supporting the Ministry’s N10b equity contribution.

The Minister was also directed to provide relevant documents over the lease of land to May and Baker in Lagos and tender a document of transfer of shares to the Ministry of Finance Incorporated (MOFI).

He said, “I also want to bring to your notice that in the document, part of the document submitted, the equity contribution of the federal government. One is 10 billion Naira.

“We take it as part of the information and documents that will be submitted alongside with the pending documents. We want to know where that money is, the utilization of the funds, when the money is being released, where the money has been domiciled.

“Also part of the agreement, Government gave out a landed property in Lagos. We want to have comprehensive documents

of the agreement and document of the property, the landed property, to be submitted to this Honourable Committee as well.

“Finally, we want you to clarify to us in your next appearance the share capital of federal government and that of the partners, we want documents showing in detail how the shares have been domiciled, what is for the federal government and what is for the percentage that belongs to the federal government and that of the partners.”

In response, the Minister pleaded to be given till the next sitting to provide the relevant documents.

He said, “The ministry has taken due steps to try to collect the documents that are available, but there are still, I believe, important gaps.

“I would like to plead with the committee in order to be very thorough in terms of completeness of what you have requested that we be given more time to be able to come back to the committee with a fuller response that is vetted.

“I would like to personally vet all the documents before they are submitted to you and where they are not in existence to be able to come back to you. As you can understand, many of these were entered into years before we came into office and we’re dealing with the residue of some of those agreements which I believe have been shared with you but admittedly the information is incomplete.

“So Mr Chairman, I will not want to share information with you that is incomplete. And we are working very hard to ensure that we collect all the information that is required and come back to you with indication oof what we have and the gaps that exist in what we have inherited.

“I know that you’ve been patient with us but it’s quite challenging to gather all the documents that go years in the making and we were not here but we are responsible for ensuring that you get all the information that you need to conduct your due diligence.

“So in the context of this process, I plead with the committee to give us a bit more time and I will personally ensure that we compile them and with a tabulation of when the agreements were made,” he said.

The Committee gave the minister until November 19, 2024, to make the submissions and appear before the committee on 26

News

Reps Summon Ministers of Agriculture, Science, Budget, Union Bank Over $2bn Renewable Energy Grants

Published

43 mins ago

November 5, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has summoned the Ministers of Agriculture and Food Security, Abubakar Kyari, Science, Technology and Innovation, Uche Nnaji and Budget and Economic Planning, Atiku Bagudu to appear before its committee on Renewable Energy, on Wednesday November 6, 2024,

This was the resolution of the House Committee at an investigative hearing on the utilisation of “$2bn investment and grants for the development of renewable energy sources in Nigeria from 2015 till date”, on Tuesday at the National Assembly Complex in Abuja.

Chairman of the Committee, Rep. Afam Ogene, member representing Ogbaru Federal Constituency of Anambra State, lamented that despite the huge grants and investment in the sector, power supply in the country has continued to worsen.

Naijablitznews.com reports that investigative hearing scheduled for Tuesday and Wednesday, was sequel to the mandate given to the Committee on June 6, 2024, to investigate Ministries, Departments, and Agencies involved in investments, procurement, and receipt of grants for renewable energy sector development.

At the commencement of the investigative hearing on Tuesday, none of the Ministers were honoured the invitation of the committee but sent representatives who were sent back by the commitee.

Rep. Ogene who expressed displeasure at the turnout, urged the concerned Ministers and other government officials to appear before the Committee unfailingly on Wednesday.

He said, “Let me state this again that Section 81 (1) of the Constitution of the Federal Republic of Nigeria (As amended) provides that ‘Each House of the National Assembly shall have power by resolution published in its journal or in the official Gazette of the Government of the Federation to direct an investigation into any matter or thing with respect to which it has the power to make laws.

“This power includes probing into the conduct of affairs of any person, authourity, Ministry or government department charged, or intended to be charged, with the duty of or responsibility for executing or administering monies appropriated or to be appropriated by the National Assembly.”

At the commencement of the hearing, Ogene called on the Budget and Economic Planning to appear before the committee to make his presentation, but a Director in the Ministry, Felix Okonkwo appeared on behalf of the Minister.

When asked if he had the mandate of the Minister to speak, Okonkwo said, “I can take some responsibilities but not all.”

Not pleased with the remark, Ogene asked him to go back and inform his principal to physically appear on Wednesday.

“Tell your Minister to appear before this Committee on Wednesday. It is not meant to witch-hunt anybody. A situation where invitations are sent about three times to heads of MDAs and they would still not appear to make their presentations is not acceptable,” he said.

The story was no different when Deputy Director of the Ministry of Science and Technology, Suleiman Abubakar represented the Minister.

Asked if he was asked to speak for the Minister, Suleiman said his directorate mandated him to attend the investigative hearing.

In his ruling the Committee Chairman said, “You have no locus to stand in for the Minister. He should appear in person on Wednesday. We wrote to the Minister, not a directorate.”

Also expected at the investigative hearing on Wednesday are the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, Office of the Accountant General of the Federation, Union Bank of Nigeria, Niger Delta Power Holding Company and Union Bank of Nigeria Plc.

News

Tinubu promotes acting COAS Oluyede to Lieutenant General

Published

5 hours ago

November 5, 2024

Austin Ojomah

By Francesca Hangeior.

President Bola Tinubu on Tuesday decorated the acting Chief of Army Staff, Olufemi Oluyede, as Lieutenant General.

It was gathered that the short ceremony took place in the President’s office complex at the State House, Abuja.

“President Tinubu decorates acting Chief of Army Staff, Oluyede, as Lt. General,” a snippet from the president’s communications team read Tuesday.

Tinubu had appointed Oluyede as the acting Chief of Army Staff last Wednesday, even as his predecessor, Taoreed Lagbaja, remains indisposed for weeks.