Economy
Customs exceeds 2024 target, rakes in N71.6bn
The Nigeria Customs Service, NCS, Murtala Muhammed International Airport Command, says it surpassed its revenue target for 2024, raking in a total of N71.6 billion.
The Customs Area Controller, CAC, Effiong Harrison, disclosed this in a statement on Friday, saying that its target for 2024 was N56.861 billion.
Harrison expressed delight over the record-breaking revenue achieved by the command.
The Customs Area Controller described the 2024 revenue as unprecedented, noting that it was the highest-ever generated in the history of the command.
“A detailed breakdown of the revenue underscores the remarkable achievement of the command in revenue generation.
“During a meeting with his management team, the area controller revealed that the command had exceeded its annual revenue target of N56,861,094,269.07 by generating N71,633,687,108.84.
“This represents a 20 per cent increase, amounting to N14,772,592,839.27,” he said.
According to him, July 2024, in particular, was a standout month, with the command recording its highest-ever monthly revenue of N12 billion.
Harrison, while comparing the command’s performance in 2023 and 2024, noted a significant revenue increase of N41.1 billion in 2024 when compared to the N30.5 billion generated in 2023, reflecting a 135 per cent growth.
He expressed profound gratitude to the Comptroller-General of Customs, Bashir Adeniyi, and his management team for their unwavering support to the command.
Harrison extended appreciation to critical stakeholders and other government agencies, acknowledging them as invaluable partners in the command’s success in 2024.
He expressed optimism that the command would achieve even greater milestones in fulfilling its core mandates in 2025.
TikTok has officially announced plans to cease its operations in the United States by January 19, 2025.
“Absent such relief, the Act will take effect on January 19, 2025,” TikTok said in a Dec. 9 legal filing. “That would shut down TikTok—one of the Nation’s most popular speech platforms for its more than 170 million domestic monthly users on the eve of a presidential inauguration.”
Last year, President Joe Biden signed into law, a legislation to remove TikTok from U.S. app stores and prohibit internet providers across the nation from allowing access to the platform if ByteDance cannot sell to an American company by Jan. 19.
The legislation was put in place amid concerns of China possibly using TikTok to spy on U.S. residents.
In response, TikTok filed an emergency motion for an injunction to stop the ban from taking effect, arguing that it violates the First Amendment and will generate “substantial losses,” per legal documents.
The Supreme Court is slated to hear oral arguments on Jan. 10 over whether or not the law should be upheld.
Meanwhile, several entrepreneurs have launched a bid to purchase TikTok, including Shark Tank’s Kevin O’Leary.
“This isn’t just about buying TikTok’s U.S. assets,” he wrote in a Jan. 6 message on X, formerly Twitter. “It’s about something much bigger: protecting the privacy of 170 million American users.”
O’Leary continued, “It’s about empowering creators and small businesses. And it’s about building a platform that prioritizes PEOPLE over algorithms. TikTok has immense potential, not just as a tool for creators but as a driver of meaningful economic and social impact.”
However, O’Leary said he’ll likely need an assist from President-elect Donald Trump, who will be sworn into office on Jan. 20.
“Trump will be who we have to work with to close the deal in the months ahead,” he explained during a Jan. 6 appearance on Fox News’ The Story with Martha MacCallum, per The Wrap. “So, I wanted to let him know—as well as others in his cabinet—that we’re doing this, and we’re going to need their help.”
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’s the dollar to naira black market today 9 January 2025?
The local currency (abokiFx) opened at ₦1,655.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 10 January 2025, in Lagos Nigeria, after it closed at ₦1,645.00 per $1 on Thursday, 9 January 2025.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate ₦1,645
Selling Rate ₦1,655
Please note that Nigeria’s black market dollar-to-naira exchange rate is typically higher than the official exchange rate because the Federal Government does not regulate it. The rates you buy or sell forex may differ from what is captured in this article because prices vary.
What’s the dollar-to-naira CBN exchange rate today?
1 USD = 1547.49 NGN
1 Dollars = 1547.49 Nigerian Naira
The USDNGN rate as of 10 Jan 2025
The official naira black market exchange rate in Lagos and FCT, Abuja today including the Black Market rates, Bureau De Change (BDC), and CBN rates.
According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) was N1750 on Thursday, January 9th, 2024, players bought a dollar for N1750 and sold it for N1760.
Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1760 and sell it for N1770 on Thursday, January 9th, 2024.
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 Lagos
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1750
Selling Rate N1760
Dollar to Naira Black Market Rate FCT, Abuja
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1760
Selling Rate N1770
Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary from state to state across Nigeria.
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