By Kayode Sanni-Arewa

Friday, February 21, 2025, the naira is exchanging for ₦1,502 to 1 US Dollar at the parallel market (black market) in Nigeria.
This means that for every one dollar, you can get the equivalent in naira of ₦1,502 on February 21, 2025.

The black market rate signifies the value at which individuals can trade their dollars for naira outside the official or regulated exchange channels.

Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government.

Today’s February 21 exchange shows that the naira has improved against the dollar, as it strengthened compared to what it traded on Thursday, February 20, when the naira exchanged ₦1,543 to $1.

The value of any nation’s currency is determined by aggregate supply and demand.

The forces of supply and demand are themselves influenced by a number of factors, including interest rates, inflation, capital flow, and money supply.

ByEmmanuel Ajibulu

US Congressman Scott Perry on February 13, 2025 made some serious allegations, claiming that the United States Agency for International Development (USAID) has been funding terrorist organizations, including Boko Haram in Nigeria, to the tune of $697 million annually.

These allegations were made during a public hearing of the US House SubCommittee on Delivering on Government Efficiency.

Meanwhile, in the wake of these scary allegations, Nigerian Senator Ali Ndume is now calling for an investigation into these claims, stating that they should not be dismissed as mere allegations. Ndume, who represents Borno South Senatorial District, has witnessed firsthand the devastation caused by Boko Haram and is concerned about the sophistication of their weapons.

Not only Senator Ndume has shown interest in knowing those behind Boko Haram sponsorship in Nigeria though, the call for transparency and accountability regarding this menace is intensifying by the day and many well meaning Nigerians are demanding to know the truth about the sources of funding for the dreaded terrorist group.

However, the United States Ambassador to Nigeria, Richard Mills, somewhat brought some message of respite, when he declared there is no evidence that the USAID is funding Boko Haram or any terrorist group. Mills made the remarks after meeting with the Nigeria Governors Forum in Abuja late Wednesday night (February 19, 2025) that no nation condemns Boko Haram’s violence and destruction more strongly than the United States.

He assured all that if any evidence is found, the US government will work with the Nigerian government to investigate it.

It is a sad and tragic reality that Boko Haram has been responsible for over 30,000 deaths of Nigerians since 2009, and 2.5 million citizens have equally been forced to flee their homes due to the conflict, with attendant widespread human rights abuses, including kidnappings, forced marriages, and forced conscription of children, famous among the very many abductions was that of the Chibok girls which gained global attention and sympathy.

It is good to know that President Bola Tinubu is taking steps to investigate the allegations that USAID has been sponsoring Boko Haram. The Senate has also summoned the National Security Adviser, Mallam Nuhu Ribadu, and other top security officials to provide explanations behind closed doors.

The Senate’s move is aimed at assessing the credibility of the allegations and discussing Nigeria’s broader security challenges. President Tinubu’s involvement in this probe is believed to be a demonstration of his commitment to addressing the ongoing insurgency and ensuring transparency in international aid.

It will as well be helpful if the investigations will make the Nigerian government and international partners prioritize transparency and accountability by conducting thorough probe into the allegations of USAID’s involvement in terrorism funding, and perform regular audits of USAID’s activities and funding in Nigeria so as to ensure that resources are being used effectively and efficiently as well as providing clear and timely disclosure of information about USAID’s programs and different layers of funding in Nigeria.

Nigeria after almost two decades of living with the pain and agony of Boko Haram is undoubtedly in dare need of international cooperation to fight terrorism to a stand still at a time like this, and more importantly, the Nigerian government, USAID, and other international partners must work together in synergy by sharing intelligence and information to combat terrorism and prevent the funding. They must also coordinate efforts to address the root causes of terrorism, including poverty, inequality, and social injustice. They equally need to promote transparency and accountability in the use of funds and resources to prevent the diversion of resources to terrorist groups and their collaborators.

Terrorism has caused immense harm and suffering in Nigeria, and it’s essential that it comes to a total end.

●Emmanuel Ajibulu is the publisher and editor-in-chief of Veracity Desk (veracitydesk.com) a general purpose online news platform. He can be contacted via, [email protected]

By Kayode Sanni-Arewa

The Transmission Company of Nigeria (TCN) says there will be a seven-hour power outage in some parts of the Federal Capital Territory (FCT).

In a statement, TCN’s General Manager of Public Affairs, Ndidi Mbah, said the affected areas will experience blackout on Saturday, February 22, and Sunday, February 23, 2025, from 9:00 am to 4:00 pm each day.

She attributed the action to scheduled annual preventive maintenance on two transformers.

“The Transmission Company of Nigeria informs the public that its maintenance crew will conduct annual preventive maintenance on the 2x100MVA, TR3 & TR4 transformers at the Apo 132/33kV Transmission Substation in Abuja,” the statement read.

“The planned power interruptions are unavoidable, as Abuja DisCo will be unable to receive bulk power supply from the transformers during the maintenance period. Power supply will be restored to the affected areas upon completion of the maintenance exercise.”

Transmission Line Tower – TCN

Mbah explained that on Saturday, February 22, the power disruptions will affect the National Hospital, G2 Injection Station, Garki, Area 1, and Asokoro for seven hours.

According to the statement, areas including Apo Legislative Quarters, Apo Resettlement, Gudu, Apo Mechanic, and surrounding areas will also experience a seven-hour power outage.

Mbah explained that the interruption is necessary as Abuja Electricity Distribution Company will be unable to receive bulk power supply from the affected transformers during the maintenance period.

TCN apologised for any inconvenience caused to the affected customers during this time.

“Power supply will be restored once the maintenance exercise is completed. We apologise for any inconvenience this may cause the affected electricity customers,” the company said.