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Dollar To Naira Exchange Rate Today ( Black Market Rate) June 28, 2024 @Aboki Fx

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How much is Dollar to Naira Exchange rate today in black market? This is the question most Nigerians do ask and want to know. Nigerian as at today operate a multiple exchange rate system where we have the official exchange Rate, interbank exchange rate and the black exchange rate…Click Here To Continue Reading>> …Click Here To Continue Reading>>

 

In this article our main focus shall be on the black market exchange rate where we are going to be looking at the daily exchange rate at the black market.

CBN Dollar To Naira Exchange Rate Today:

To $1

Exchange Rate Dollar To Naira Black Market

Dollars to Naira (USD to NGN) Exchange Rate Today
Buying Rate
Selling Rate

Facts about the United state dollar you should know

The United States dollar is referred to as USD and has been accepted globally and recognized as a legal tender in many countries such as Micronesia, Zimbabwe, Palau, El Salvador, East Timor, Marshall Islands, and the United States.

Among the three top rated currency in the world today, Euro, pound and Dollar; Dollar remains the currency we all make use of frequently.

  • The United state dollars was first introduced in 1690.
  • The United States dollar weigh 1 gram
  • The portrait that is on 1$ is that of George Washington’s.
  • Do you know that there is $100,000 note? Yes it does exist but can’t be accessed by the public.
  • As at today the total amount of US dollar in circulation is over $1.54 trillion of U.S.
  • It is estimated that over two-thirds of all $100 bills which is very huge are held outside the United States of America.
  • The United States minting company known as Bureau of Engraving and Printing produces over 38 million notes often.
  • $1, $5, $10 which are the smallest denominations are frequently use than others.
  • The United States coin can last up to 25 years.
  • Do you know that Americans throw away $62 million coins each year?
  • The only woman that is on the US dollar is Martha Washington.

See reasons why there is fluctuations/ High Dollar to Naira Exchange rate today in black market

There are certain reasons why there might be increase in the high exchange rate we are all experiencing right now. So we are going to take our time to list them out here.

Import demand is high

Nigeria is a Mono economy hence we rely heavily on imported items like cloths, shoes, bags, makeup and attachments for women, industrial equipments, electronics, cars and even fuel.

All these have terrible effects on the Nigerian economy and one of this effects remains massive pressure on Naira and available Dollars needed to offset import. In simple economic understanding when demand is more than supply then prices is bound to shoot up. READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

Drastic fall in oil prices

ever since 2014 oil prices has continue to fall although there has been minor gains but this gains are not much as compared to the 2013 to middle of 2014 oil boom when oil sold for 140$ per barrel.
Oil remains a major foreign exchange earner for the government, they use the proceed to finance most recurrent and capital expenditure under a given fiscal year.

When there is fluctuations in the prices of oil then the Nigerian economy as a whole will suffer, not having the needed fund to carry out its responsibilities.

Investors confidence

if investors confidence is high there will be no capital flight. People will be willing to invest in the economy because they are rest assured that their investments is secured.

More foreign Direct investments coming into the country helps keep the exchange rate lower, makes the economy to be healthy and the naira benefits by being valued.

Government policies

Government makes policies for the economy as a whole and this policy can be divided into:

  • fiscal policy and
  • monetary policy.

This is the major tool government uses to either control the money supply or decrease it.

  • Monetary policy : The monetary policy remains of the most used policy because it has a direct impact on the whole of the economy. Take for instance if the federal government of Nigeria wants to boost the economy through increase in aggregate demand the first thing it does is to allow the central bank of Nigeria to first decrease the interest rate.
  • Fiscal policy : here the government will have to cut down taxes which will attract Direct Foreign Investment, which means that enough dollars are coming into the country because the environment is somehow friendly to them.

 

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Man Brutally Assaults His Ex-Girlfriend In Minna, Says She Was Lucky He Wasn’t Carrying A Knife

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Mohammed Abba Yahaya, a 26-year-old man, has been arrested by the Niger State Police Command.

He was arrested for assaulting a 400-level student of the Ibrahim Badamasi Babangida University (IBBU), Lapai.

The spokesperson of the command, SP Wasiu Abiodun, who confirmed the incident said the suspect was arrested by police operatives attached to the Chanchaga Division in Minna on June 30, 2024, for criminal force and assault against the victim, Hussena Sani, who is his ex-girlfriend. 

“On 29/6/2024 at about 1630hrs, a case of criminal force and assault, causing injury, was reported at Chanchaga Division against the suspect, one Mohammed Abba Yahaya, 26, of Tungan-goro, Minna. At about 2100hrs, he assaulted one Hussena Sani, 25, of the same area, and inflicted serious injury on her,” the PPRO said. 

Yahaya claimed that he saw his female friend, Hussena Sani, being dropped off by a vehicle at Tungan-goro and, upon inquiring about the driver, did not receive a satisfactory response. 

An argument ensued, leading to a physical altercation in which Yahaya punched Sani in the face.

The victim was taken to the hospital for medical treatment, while the suspect has been transferred to the State Headquarters of the Niger State Police Command in Minna for further investigation and prosecution.

However, in a swift reaction, the victim debunked the suspect’s confessional statement to police investigators, though she confirmed that Yahaya was her former boyfriend. 

Sani, whose eyes were swollen and tightly closed, likely due to the beating by Yahaya, recounted her ordeal. 

She explained that the incident occurred on Saturday, 29/6/2024, at about 2100 hrs after she had seen off a visitor in his private car near her residence. 

Sani stated that Yahaya, who saw her alight from the visitor’s car, angrily approached her and demanded to know the identity of the car owner and her relationship with him. 

When she replied that it was none of his business, he slapped her, followed by heavy blows to her face and body, causing her to fall to the ground with one eye bleeding profusely.

She further explained that Yahaya, upon realizing she was struggling in pain and crying for help, forcefully took her iPhone/Android phone and fled.  READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

Sani managed to walk slowly, holding her left eye, towards Yahaya’s house to report the incident to his parents. 

Yahaya accosted her again, hitting her on the remaining eye. 

She shouted at him, “Do you still want to kill me?” Yahaya responded that she was lucky he wasn’t carrying a knife, or he would have stabbed her to death.

Sani was later rushed to Ibrahim Badamasi Babangida Specialist Hospital in Chanchaga, Minna, for urgent medical attention and was subsequently referred to eye specialists at Minna General Hospital. 

She has started responding to treatment, though she still cannot see with one of her eyes as of Thursday, July 4. 

Meanwhile, Hajiya Fatima, Sani’s mother, in a brief interview with the Nigerian Tribune, described the injuries suffered by her daughter from her former boyfriend as unacceptable, wicked, and ill-treatment. 

She sent a passionate appeal to the Niger State Government and the State Police Command to ensure that Yahaya is held accountable for his alleged dastardly acts. 

The visibly distraught mother, who was crying throughout the interview, said her daughter’s precarious health condition was a great concern. 

She added that Sani was supposed to have returned to the university for the continuation of her academic program since last weekend, prior to the unfortunate incident.

Hajiya Fatima described the suspect as a brute, heartless, and a thief for snatching her daughter’s phone after inflicting serious injuries on her. 

She advocated for justice against Yahaya and a serious penalty to serve as a deterrent to others. 

She expressed appreciation to the Commissioner of Police, Niger State Command, CP Shawulu Ebenezer Danmamman, and his officers for the immediate arrest, detention, and investigation of the suspect, with plans for his prosecution upon completion of the investigation.

Fatima expressed fears that her daughter may be left with a permanent scar and trauma from the incident, emphasizing that justice must be served. 

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A Married Man Who Lives In His Family House With His Wife And Kids Is Still A Boy

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Stella Justice, a Nigerian lawyer, has caused a stir with a statement she made online.

The lawyer opined that a married man who lives in his family house with his wife and children is still a boy.  READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

“If you are MARRIED as a MAN and YOU are STILL LIVING in your FAMILY HOUSE with your WIFE and CHILDREN, you are still a BOY. Such a man is not ready to take up his RESPONSIBILITIES,” she wrote in a Facebook post on Sunday. 

“You and wife needs PRIVACY. You don’t need to HIDE to MAKE LOVE for FEAR of anyone KNOCKING. YOUR WIFE needs to be FREE to wear transparent night gown for you as the husband.” 

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President Tinubu Re-elected ECOWAS Chairman

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Tinubu, whose first tenure is to elapse on July 9, 2024, was elected by a unanimous decision of fellow Heads of Government at the 65th Ordinary Session of the Authority held at the State House, Abuja, on Sunday.

 

Nigeria’s President, Bola Tinubu has been re-elected as the Chairman of the ECOWAS Authority of Heads of States and Government for another one-year tenure.

Tinubu, whose first tenure is to elapse on July 9, 2024, was elected by a unanimous decision of fellow Heads of Government at the 65th Ordinary Session of the Authority held at the State House, Abuja, on Sunday.

In his acceptance speech, the President said, “I have accepted to continue to deliver on this service with the great men and women on this democratic journey, to serve our interest and build democratic values on the structure we inherited.” READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

Presidency sources had on Saturday night told our correspondent that Tinubu may be elected for another tenure.

“Some people say he should hand over, and others say he should continue. But they will decide tomorrow,” said the source who preferred to remain anonymous as he was not authorised to speak on the issue.

Tinubu was elected Chairman of the Authority at the 63rd Ordinary Session of the regional bloc held last July in Bissau, the capital of Guinea-Bissau.

Details shortly…

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