Dollar Sells at ₦1601.85 — a 0.51% Drop from Yesterday As of 29th April 2025, the Nigerian Naira experienced a modest strengthening in the parallel market, with the dollar selling at ₦1601.85, reflecting a 0.51% decrease from ₦1610 the previous day. This shift underscores ongoing market volatility shaped by foreign exchange (forex) demand, supply pressures, and evolving monetary policies by the Central Bank of Nigeria (CBN). Black Market Exchange Rates…

Lagos State has received a significant boost to its economic reputation, as Fitch Ratings upgraded its Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) from ‘B-’ to ‘B’. In a statement released on the state government’s Facebook page on Monday, three other states – Kaduna, Kogi, and Oyo – also benefitted from the upgrade. According to the statement, the internationally renowned rating agency announced that the outlook for all four…

The Federal Government (FG) has sounded the alarm over an escalating wave of cyber slavery affecting parts of West Africa. This warning follows revelations by the United States Federal Bureau of Investigation (FBI) that nearly $65 million was lost over the past two years to financially motivated sextortion schemes, reportedly involving Nigerian nationals. In a statement released by Kimiebi Ebienfa, spokesperson for the Ministry of Foreign Affairs, the government warned…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has identified inflation as the greatest threat to the economic well-being of Nigerians.

Nigerian Naira continued its struggle against major global currencies today, with the black-market exchange rate for the U.S. dollar increase further reflecting persistent economic pressures and foreign exchange supply shortages. As of May 5,2025  the unofficial exchange rate — heavily relied upon by businesses and individuals in Nigeria — saw the Naira trading at ₦1607.72 to $1 in the parallel market. The ongoing gap between the official and black-market rates…

The Dollar to Naira exchange rate continues to capture the attention of businesses, investors, and individuals across Nigeria amid ongoing foreign exchange challenges. As of April 27, 2025, the black-market rates reflect persistent supply constraints, economic pressures, and recent Central Bank of Nigeria (CBN) policy shifts. Black Market Exchange Rates (April 27, 2025) Dollar to Naira: Buying: ₦1,600/$1 Selling: ₦1,605/$1 Euro to Naira: Buying: ₦1,780/€1 Selling: ₦1,800/€1 Pound Sterling to…

Vice President Kashim Shettima has called for enhanced international collaboration to advance Nigeria’s Human Capital Development 2.0 (HCD 2.0) strategy. Speaking virtually at a high-level roundtable on the sidelines of the 2025 World Bank and International Monetary Fund (IMF) Spring Meetings, Shettima reaffirmed President Bola Tinubu’s commitment to placing human potential at the centre of national progress. He stressed that the success of the HCD 2.0 agenda would depend on…

Vice President Kashim Shettima has praised the United Bank for Africa (UBA) for its outstanding record of innovation, growth in emerging markets, and sustained excellence over the past 75 years. Speaking at UBA’s 75th Anniversary Dinner held at the Transcorp Hilton Hotel, Abuja, Senator Shettima described the bank as a ‘pacesetter’ and a ‘quintessential specimen’ of what African institutions can achieve when excellence is institutionalised. READ ALSO: World Bank bans two…

A former private equity executive and licensed attorney has been indicted on 116 counts following revelations that he transformed his luxury Midtown Manhattan apartment into a dungeon of sexual violence, complete with surveillance cameras, weapons, and torture tools. Ryan Hemphill, 43, appeared in court Thursday to face a sweeping array of charges including predatory sexual assault, rape, drug possession, and witness tampering. Prosecutors allege that between October and March, Hemphill…

Vice President Kashim Shettima has called for greater collaboration between public and private sector stakeholders to unlock Nigeria’s full potential in skills development. He emphasised that a united national strategy is crucial for transforming the country’s workforce. Shettima stressed that Nigeria’s demographic advantage can only translate into real economic gains if the youth and workforce are equipped with critical, market-relevant skills. “We know that isolated programmes, no matter how well-intentioned,…

The Dollar to Naira exchange rate remains a critical focus for businesses, investors and individuals in Nigeria as forex market fluctuations continue. On 25th April 2025, the black-market exchange rate reflects ongoing economic trends, foreign exchange supply challenges, and the latest policies from the Central Bank of Nigeria (CBN).   How Much is Dollar to Naira Today in Black Market? The latest black-market Dollar to Naira exchange rate as of…

The Dollar to Naira exchange rate remains a critical focus for businesses, investors and individuals in Nigeria as forex market fluctuations continue. On 24th April 2025, the black-market exchange rate reflects ongoing economic trends, foreign exchange supply challenges, and the latest policies from the Central Bank of Nigeria (CBN).   How Much is Dollar to Naira Today in Black Market? The latest black-market Dollar to Naira exchange rate as of…