News
SEE Dollar To Naira Exchange Rate For Today January 3rd 2025

By Kayode Sanni-Arewa
-As of January 3, 2025, the Nigerian Naira (NGN) has continued to experience some level of volatility against the US Dollar (USD), while this has been the norm for decades now, this largely to some extent reflects the ongoing economic challenges.
See the Naira performance across various currencies
A quick check at the parallel market at Abuja Zone 4 market,as at January 3, 2025 , the black market exchange rate stands firmly at approximately ₦1,660 per USD. This means if you want to buy a dollar now, it is ₦1,660 while if you want to sell it is approximately ₦1,640.
Please be aware that the parallel market or the black market rates are mostly and notably higher compared with what you get from the official market or CBN rate
For individuals and businesses that often or solemnly engaged in currency exchange or international trade, we have peomised to keep you all updated because staying informed about these fluctuations and daily changes is crucial for business.
Please be rest assured that our sources remain reliable and dependable as we remain committed to providing real-time data to help you make informed financial decisions in your everyday transaction.
Over the past year, the Naira has been on a free fall. This continue decline has been attributed to several factors, obe of such factors is the fluctuating oil prices which the Nigerian Government depend on, other factor are inflation, huge debt services and declining foreign exchange reserves.
The huge disparity between official market or CBN rate and the rate gotten at black market underscores the underlying complexities within Nigeria’s foreign exchange landscape.
News
FRESH TWIST! Obasa Drags Meranda To Court Over N5BN SUV Purchase

…insists on spending N7BN he had budgeted for the SUV before removal
A fresh palaver has erupted in the Lagos State House of Assembly as Speaker Mudashiru Obasa has taken legal action against his former deputy, Mojisola Meranda, over her approval of N5 billion for the purchase of 40 luxury SUVs for lawmakers during her brief tenure as Speaker.
Before his impeachment, Mr. Obasa had reportedly planned a N7 billion budget for 45 Toyota Fortuner SUVs—40 for lawmakers, one for the house clerk, and four for himself and his two wives.
However, Ms. Meranda’s decision to approve the purchase of Land Cruisers instead of Fortuner SUVs disrupted his original plan, leading to mounting tensions in the assembly.
“Obasa had his own plans for purchasing vehicles before his removal,” a source revealed. “Now that he’s back, he wants the ₦5 billion returned so he can execute his initial plan, but the lawmakers are refusing to give up their newly acquired SUVs.”
The development has triggered resistance among lawmakers, many of whom opposed Mr. Obasa’s return as Speaker.
They are reportedly standing firm against his demand to return the Land Cruisers in exchange for the Fortuner SUVs he initially intended to buy.
“Mr. Speaker is not letting this matter go and has ordered Meranda and the lawmakers to return the Land Cruisers,” another source stated. “But they are all refusing because they prefer the latest model over the 2020 Fortuner SUVs Obasa had planned to buy.”
As the legal battle unfolds, the Lagos State House of Assembly remains embroiled in controversy, raising concerns about leadership disputes and financial accountability within the legislative body.
Lagos Reporters will continue to provide updates on this unfolding political drama.
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News
Video: WATCH tearful Senator Natasha reporting Akpabio to IPU

A video clip trending on the social media network shows tearful Senator Natasha Akpoti-Uduaghan reporting the Nigerian Senate over her unusual suspension.
It’s the first of its kind in the Nigerian legislature where the voice of a whole constituency will be silenced for six months.
Akpabio and his men used a sledgehammer to kill a fly.
WATCH
News
Alleged Terrorism: Judge to issue hearing notice on Nnamdi Kanu case

The new judge of the Federal High Court in Abuja who is to handle the treason trial of self-acclaimed leader of proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, may issue hearing notices to the parties in the case before the week runs out.
The Nation learnt that the case has now been re-assigned by the Chief Judge of the court, Justice John Tsoho, from Justice Binta Nyako to Justice James Omotosho.
It was not clear last night if the case file had been transmitted to the new judge’s court.
Hearing notices and other relevant information could only be communicated to the parties after the new court would have received the case file, a source told our correspondent.
Also, the court’s Chief Registrar, Sulaiman Hassan, has faulted reports that the new judge, to whom Kanu’s trial has been assigned, has withdrawn from handling it.
In a statement yesterday, Hassan described the report as false and misleading.
The statement reads: “The court unequivocally refutes the false and misleading report, alleging that the Honourable the Chief Judge, the Hon. Justice John T. Tsoho, has stepped down from Nnamdi Kanu’s case and made statements regarding the legality of his arrest.
“This claim is entirely unfounded, fictitious, grossly mischievous, damaging in intent and should be disregarded in its entirety.
“The true position is that the Honourable Justice Tsoho, in his capacity as the Chief Judge, has reassigned Nnamdi Kanu’s case from Honourable Justice Binta Nyako to another (‘new’) judge.
“The report referred to is, therefore, totally spurious.
“The defence team should hence prepare to receive instructions regarding the case, as may be issued by the new judge.
“The Federal High Court strongly cautions against deliberate misinformation to mislead the public and erode confidence in the judicial system.
“We urge the general public to be wary and rely only on verified information from official court sources.
“The court remains steadfast in upholding justice through due process of the law.
“Any further enquiries should be directed to the court’s Information Department.”
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