Ejes Gist News

Month: September 2023

  • Dollar to Naira CBN and Bank Rate Today September 27, 2023

    Dollar to Naira CBN and Bank Rate Today September 27, 2023

     

    Dollar to Naira CBN and Bank Rate Today September 27, 2023

    The Nigerian naira has been under pressure in recent months due to the decline in oil prices and the scarcity of foreign exchange. The naira has depreciated significantly against the US dollar in both the official and parallel markets, creating a wide gap between the two rates.

     

    In this blog post, we will look at the current exchange rates of the dollar to naira in the Central Bank of Nigeria (CBN) and bank markets, as well as the factors affecting them. We will also compare them with the black market rate, which is often used as a benchmark by many Nigerians.

    What is the Dollar to Naira CBN exchange rate?

    The CBN exchange rate is the official rate at which the CBN sells and buys foreign currencies from authorized dealers, such as banks and bureaux de change (BDCs). The CBN regulates the supply and demand of foreign exchange in the country through various policies and interventions.

     

    According to the CBN website, the exchange rate of the dollar to naira as of September 27, 2023 was:

    • Buying: 777.602 NGN for $1
    • Selling: 778.602 NGN for $1

    This means that the CBN sells one US dollar for 778.602 naira and buys one US dollar for 777.602 naira from authorized dealers.

     

    What is the Dollar to Naira bank exchange rate?

     

    The bank exchange rate is the rate at which banks sell and buy foreign currencies from their customers. Banks are authorized dealers of foreign exchange and they source their forex from the CBN or other sources, such as remittances, exports, and investments.

     

    The bank exchange rate may vary from one bank to another, depending on their forex availability, demand, and profit margin. However, banks are expected to comply with the CBN’s guidelines and regulations on forex transactions.

     

    According to Investors King, a digital business news platform, the average bank exchange rate of the dollar to naira as of September 27, 2023 was:

    • Buying: 790 NGN for $1
    • Selling: 782.20 NGN for $1

     

    This means that banks sell one US dollar for 782.20 naira and buy one US dollar for 790 naira from their customers.

     

    How does the CBN and bank rate compare with the black market rate?

     

    The black market rate is the rate at which unofficial dealers, such as street vendors and online platforms, sell and buy foreign currencies from their customers. The black market rate is often influenced by speculation, hoarding, panic buying, and other factors that are not regulated by the CBN.

     

    The black market rate is usually higher than the CBN and bank rate, creating a gap that reflects the scarcity and volatility of forex in the country. Many Nigerians prefer to use the black market rate as a reference because it is more accessible and realistic than the official rate.

    Read Also: How to buy or sell dollars in Nigeria

     

    According to Investors King, the black market exchange rate of the dollar to naira as of September 27, 2023 was:

    • Buying: 995 NGN for $1
    • Selling: 1000 NGN for $1

    This means that black market dealers sell one US dollar for 1000 naira and buy one US dollar for 995 naira from their customers.

     

    What are the factors affecting the exchange rate of the dollar to naira?

     

    The exchange rate of the dollar to naira is affected by various factors, both internal and external. Some of these factors are:

     

    Oil prices: Nigeria is an oil-dependent economy that relies on oil exports for most of its foreign exchange earnings. A fall in oil prices reduces Nigeria’s forex inflow and affects its balance of payments.

    Forex demand: Nigeria has a high demand for forex to import goods and services, pay debts, repatriate profits, and meet other obligations. The demand for forex often exceeds the supply, creating pressure on the naira.

    Forex supply: Nigeria has a limited supply of forex from its oil exports, non-oil exports, remittances, investments, loans, and reserves. The supply of forex is often affected by external shocks, such as oil price fluctuations, global economic slowdowns, sanctions, and currency wars.

    CBN policies: The CBN implements various policies and interventions to manage the exchange rate of the naira and ensure stability in the forex market. Some of these policies include the multiple exchange rate system, the forex ban list, the forex allocation system, the forex intervention program, and the forex futures market.

    Market sentiments: The exchange rate of the naira is also influenced by market sentiments, such as expectations, confidence, speculation, rumors, and emotions. Market sentiments can affect the demand and supply of forex, as well as the behavior of forex dealers and customers.

    Final Notes on Dollar to Naira exchange rate today

    The exchange rate of the dollar to naira is a key indicator of Nigeria’s economic performance and stability. The exchange rate is determined by various factors, such as oil prices, COVID-19 pandemic, forex demand, forex supply, CBN policies, and market sentiments.

     

    The exchange rate varies across different markets, such as the CBN, bank, and black market. The CBN and bank rate are the official rates that are regulated by the CBN, while the black market rate is the unofficial rate that is determined by market forces.

     

    As of September 27, 2023, the CBN exchange rate of the dollar to naira was 778.602 NGN for $1, the bank exchange rate was 782.20

    NGN for $1, and the black market rate was 1000 NGN for $1.

  • Outrage as Civil servants uncover 17,000 workers’ names removed, replaced with personal, special assistants on IPPIS

    Outrage as Civil servants uncover 17,000 workers’ names removed, replaced with personal, special assistants on IPPIS

    Controversy Surrounds Removal of 17,000 Civil Servants from IPPIS.

     

    The Association of Senior Civil Servants of Nigeria (ASCSN) has addressed concerns regarding the alleged removal of over 17,000 core civil servants from the Integrated Payroll and Personnel Information System (IPPIS). ASCSN’s national president, Etim Okon, called for calm among the affected workers and assured them that measures were being taken to rectify the situation.

    Mr. Okon expressed his concern, noting that many genuine civil servants were unaware of the online verification exercise conducted by the Office of the Head of Service of the Federation (HoSF). He explained that upon receiving information about the situation, the association took action to engage with the government through the HoSF to address the issue.

    Read Also Tragic Fire at Wedding Hall Claims 114 Lives

    During their investigation, ASCSN discovered that not only were core civil servants affected, but names of personal assistants, special assistants, and even some ministers were included in the IPPIS portal.

    To address this matter, a committee has been formed within the HoSF to handle cases related to the online verification exercise. Mr. Okon urged individuals with valid complaints, particularly those who had previously completed the online verification, to submit scanned copies of their documents to the provided email address.

    Read Also Mixed Reactions Surround Controversial Judgments by Guber Election Tribunals

    The HoSF initially set a one-week deadline for full compliance with the verification exercise, but Mr. Okon appealed to the government to consider extending the deadline due to the challenges involved.

    The situation highlights the importance of ensuring the accuracy and integrity of payroll and personnel systems within the civil service to prevent errors and unintended consequences for employees.

    Job Vacancies in Nigeria.

  • Tragic Fire at Wedding Hall Claims 114 Lives

    Tragic Fire at Wedding Hall Claims 114 Lives

    114 wedding guests killed as fire razes hall. 

    In a devastating incident, a wedding hall in the Hamdaniya area of Nineveh Province, Iraq, was engulfed in flames, resulting in the loss of at least 114 lives and leaving around 100 people injured. This tragedy unfolded in a Christian-dominated region close to Mosul.

    The fire broke out on Wednesday, and harrowing television footage captured the wedding hall consumed by flames. Civil defense officials indicated that the hall had been adorned with illegal flammable cladding, intensifying the blaze.

    Read Also Mixed Reactions Surround Controversial Judgments by Guber Election Tribunals

    The aftermath revealed a scene of destruction, with charred metal and debris as the only remnants. The somber hall was illuminated solely by television cameras and the phones of witnesses.

    Iraq’s health ministry spokesman, Saif al-Badr, expressed deep sorrow over the incident and assured that every effort was being made to provide relief to those affected. The health department in Nineveh Province confirmed the tragic death toll of 114.

    Also Read Nigerian Newspapers Summary: 10 facts you need to know today, September 27, 2023

    Injured survivors with varying degrees of injuries were transported to regional hospitals. Some were rushed to local medical facilities, where they received vital treatment, including oxygen and bandages. Concerned family members filled these hospitals, anxiously awaiting news of their loved ones.

    Authorities in Iraq have issued a warning that the death toll could potentially increase, as the final count of casualties has not yet been determined.

    Read Also Tragedy: Inspector Arrested as Notorious Son Stabs Neighbor to Death

    While no official cause of the fire has been confirmed at this time, initial reports from the Kurdish television news channel Rudaw suggested that fireworks used at the venue might have triggered the blaze.

    In response to this devastating incident, Iraq’s Prime Minister, Mohammed Shia al-Sudani, has ordered a thorough investigation and instructed officials from the interior and health ministries to provide much-needed relief to those affected by this heartbreaking tragedy.

    Job Vacancies in Nigeria.

  • Mixed Reactions Surround Controversial Judgments by Guber Election Tribunals

    Mixed Reactions Surround Controversial Judgments by Guber Election Tribunals

    Several State Governorship Election Petition Tribunals have delivered judgments regarding the March 18, 2023, governorship elections in Nigeria. These verdicts have sparked diverse reactions, highlighting the polarizing nature of these decisions.

    Among the states where judgments have been delivered are Kano, Bauchi, Zamfara, Plateau, Benue, Enugu, Lagos, Cross River, Gombe, and others. Opinions on these judgments are sharply divided based on one’s perspective.

    Read Also Nigerian Newspapers Summary: 10 facts you need to know today, September 27, 2023

    One of the most contentious rulings came from Kano State, where the governorship election petition tribunal dismissed the incumbent Governor, Abba Yusuf, and declared Nasir Gawuna of the All Progressives Congress (APC) as the rightful governor. This decision was met with violent protests in Kano, with citizens expressing their dissatisfaction and claiming they voted for Yusuf.

    The New Nigeria Peoples Party (NNPP), to which Yusuf belongs, strongly criticized the verdict, labeling it a miscarriage of justice. They pledged to appeal the judgment, asserting that it unfairly deducted votes from Yusuf’s tally.

    Read Also Tragedy: Inspector Arrested as Notorious Son Stabs Neighbor to Death

    In Enugu State, the tribunal upheld Governor Peter Mbah’s victory, dismissing the petition filed by the Labour Party (LP) candidate, Chijioke Edeoga. Edeoga had alleged that Mbah submitted a forged discharge certificate from the National Youth Service Corps (NYSC). The tribunal, however, ruled that the NYSC certificate was not a requirement for the governor’s office and that Mbah was qualified to contest without it.

    The LP and Edeoga rejected this verdict and vowed to challenge it on appeal. Meanwhile, Governor Mbah welcomed the tribunal’s decision as a victory for democracy.

    Job recruitment in Nigeria

    Opinions on these tribunal rulings vary, with some questioning their validity, while others argue that justice will ultimately prevail through higher courts. The polarizing nature of these judgments reflects the complexity of electoral disputes in Nigeria, with citizens closely watching how these legal battles unfold.

  • Nigerian Newspapers Summary: 10 facts you need to know today, September 27, 2023

    Nigerian Newspapers Summary: 10 facts you need to know today, September 27, 2023

    Nigerian Newspapers Review for Today: Major Headlines – September 27, 2023.

     

    Good morning! Here are today’s key stories from Nigerian newspapers:

    New CBN Governor Prioritizes Forex Obligations: Olayemi Cardoso, the new Governor of the Central Bank of Nigeria, has pledged to address the apex bank’s unsettled foreign exchange obligations. Speaking during a Senate screening session, Cardoso emphasized transparency, corporate governance, and bolstering the bank’s autonomy.

    Naira Marley to Assist in Mohbad’s Death Investigation: Nigerian singer Naira Marley has promised to return to Nigeria to aid in the investigation into the death of his former record label signee, Mohbad. He hinted that the circumstances surrounding Mohbad’s demise would be revealed in due course.

    NLC and TUC Direct Shutdown Over Unmet Demands: The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have instructed their members to shut down the economy on October 3, 2023. This directive stems from the federal government’s failure to meet their demands, as announced by NLC President Joe Ajaero and TUC President Festus Osifo.

    House of Representatives Speaker Decries Insecurity: Speaker Tajudeen Abbas expressed concern over the ongoing security challenges in the country. He noted that despite government efforts, the situation remains precarious but highlighted some successes in addressing insecurity.

    Government Approves Acquisition of Attack Helicopters: The federal government has given the green light for the acquisition of 12 MD 530 F Cayuse attack helicopters. This move aims to enhance the operational capabilities of the Nigerian Army in combating security challenges.

    More Nigerian Newspapers Headlines

    Gunmen Attack Polytechnic in Nasarawa: Gunmen targeted Isa Mustapha Agwai I Polytechnic in Lafia, Nasarawa State, injuring one admission seeker and two students. They also abducted a female student named Ajoke.

    Labour Party’s Gubernatorial Candidate Rejects Tribunal’s Ruling: Gbadebo Rhodes-Vivour, the Labour Party’s gubernatorial candidate in Lagos State, has contested the election petition tribunal’s decision affirming Governor Babajide Sanwo-Olu’s victory, alleging legal errors.

    Market Chairman Abducted in Onitsha: Chief Enibe Francis, Chairman of Mgbuka Amazu Market in Onitsha, Anambra State, was abducted by unknown assailants, possibly related to the recent sit-at-home protest in the area.

    Call to Reduce Bureau de Change Operators: Tope Fasua, Special Adviser to the President on Economic Affairs, called for a significant reduction in the number of bureau de change operators in Nigeria, suggesting a reduction from over 5,000 to about 200.

    Landlord Allegedly Scalds 11-Year-Old Girl: A landlord identified as Michael reportedly poured hot water on an 11-year-old girl named Princess in Mowe, Ogun State.

    These are the top stories making headlines in Nigerian newspapers today. Stay informed and have a great day!

     

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  • Tragedy: Inspector Arrested as Notorious Son Stabs Neighbor to Death

    Tragedy: Inspector Arrested as Notorious Son Stabs Neighbor to Death

    Tragedy Strikes Warri Police Barracks: Son of Serving Inspector Allegedly Stabs Neighbor to Death.

    Warri, Delta State, Nigeria – In a shocking incident that has sent shockwaves through the Officers’ Barracks of the Warri Area Command of the Nigeria Police, a fellow resident was fatally stabbed following a heated altercation. The accused, Destiny Ogbantu, son of a serving Inspector, is now at the center of a criminal investigation, while the community grapples with this grim incident.

    Read Also Anambra Principals Suspended for Defying Free Education Policy

    The tragedy unfolded on the evening of Friday, September 22, 2023, within the vicinity of Block D, Warri Barracks apartments. Witnesses described a heated dispute between Destiny and his neighbor, Onyebuchi Emeka, which quickly escalated into violence. Destiny, in a fit of rage, allegedly retrieved a knife and a dagger from his father’s apartment upstairs and pursued Onyebuchi, who fled across the barracks, eventually falling into a gutter.

    Eyewitnesses recounted a horrifying scene as Destiny repeatedly stabbed Onyebuchi in the back and chest. Shockingly, this gruesome act played out in front of residents, including the suspect’s mother and siblings.

    Onyebuchi was rushed to a nearby private hospital by his family but tragically succumbed to his injuries, primarily due to severe blood loss from the deep wounds inflicted upon him.

    In the aftermath of this shocking event, the mother of the accused reportedly fled the barracks with her children, including Destiny, and their whereabouts remain unknown at this time. Meanwhile, Inspector Ogbantu, the father of the suspect, has been taken into police custody, held responsible as a proxy for his son’s alleged actions.

    Pay Attention To Nationwide Strike: TUC and NLC Declare Indefinite Shutdown. See When

    Civil rights activists in Delta State have not remained silent on the matter. The Delta State chapter of the Nigerian Civil Rights Council has called for a thorough investigation, urging the Nigeria Police Force not to overlook the incident. Protesters led by Comrade Ojumude Bishop and including the unit Secretary, Comrade James Udume, voiced their demands for justice during a protest at the Warri Area Police Command. They insisted that Inspector Ogbantu cooperate fully with the law enforcement process without any attempts to manipulate the facts.

    As this tragic event continues to send shockwaves through the Warri Police Barracks, the public eagerly awaits further developments in this case. At the time of reporting, the Police Public Relations Officer for Delta State Command, Bright Edafe, was unavailable for comment.

  • Engineering Graduate Trainee at Mantrac Nigeria

    Engineering Graduate Trainee at Mantrac Nigeria

    Detail on how to apply for Engineering Graduate Trainee at Mantrac Nigeria has been highlighted here on Ejes Gist Newspaper.

    Mantrac is the only authorized dealer of Caterpillar products in Nigeria, offering and servicing machinery, power systems and material-handling equipment. The company delivers complete solutions to customers, supported by technical expertise, experience and in-depth knowledge of their local markets.

    Also Apply for Carbon Nigeria Graduate Management Trainee Programme 2023

    Mantrac has been operating in Nigeria since 1977, when it became the authorised Caterpillar dealer in East and West Africa¹. Mantrac Nigeria is part of the Mantrac Group, which is a family-owned conglomerate under the Mansour Group.

    Mantrac Nigeria has 10 branches across the country and has been involved in many major construction projects in Nigeria.

    We are recruiting to fill the position below:

    Engineering Graduate Trainee at Mantrac Nigeria

    Location: Nigeria
    Employment Type: Full-time

    Requirements

    • Fresh Graduates who have completed NYSC with 0-2 years experience.

    Application Closing Date for Engineering Graduate Trainee at Mantrac Nigeria.
    31st October, 2023.

    Method of Application 
    Interested and qualified candidates should:
    Click here to apply online

    How to Apply

    To apply for Engineering Graduate Trainee at Mantrac Nigeria, you need to follow these steps:

  • Carbon Nigeria Graduate Management Trainee Programme 2023

    Carbon Nigeria Graduate Management Trainee Programme 2023

    Apply for latest job vacancies at Carbon Nigeria Graduate Management Trainee Programme 2023. Carbon nigeria graduate salary and how to apply for the latest jobs in Nigeria at Carbon Nigeria has been highlighted here on Ejes Gist Newspaper.

    Carbon is a pan-African digital bank with a mission to provide friction-free finance to its customers. Carbon promises to play a fundamental role in its customers’ lives wherever they are, with flexible solutions. We pride ourselves on our efficiency and with just $10mm of equity raised in 2015, we have disbursed over $100m in loans and earned more than $30mm in revenue over the last 2 years. Carbon has operations in Ghana, Kenya, and Nigeria, supported by a talented team spread between Lagos, Nairobi, London, Argentina, and Palo Alto so we operate with a remote-first mindset.

    We invite applications for:

    Title: Management Trainee Programme

    Location: Lagos (Hybrid)
    Employment Type: Full Time
    Department: Carbon MFB

    Role

    • Selected candidates will rotate through functional areas such as Risk, Collections, Customer Success, Finance, and Business Intelligence during a 3 – 6 month period. At the end of the 6 months, the top trainees will be selected and invited for permanent employment.

    Apply for Nigerian Army Recruitment 86rri 2023 form is out. See How to Apply

    • Candidates will be given significant responsibility and work directly with Heads of Department on critical areas of the business. All projects will be technical and require a high level of analysis & automation.

    Requirements

    • Minimum of a Bachelor’s Degree in any discipline
    • Logical thinker evidenced by strong numerical/data skills or programming/coding experience (SQL, Retool & python)
    • Experience in financial services, technology, or financial technology is an added advantage.
    • Ideal candidates will be PRIMED – Passionate, Resourceful, Intellectual, Maverick, Execution, and Data-Driven.

    Carbon nigeria graduate salary

    The salary for a graduate management trainee at Carbon Nigeria is N250,000 net monthly

    Application Closing Date
    Not Specified..

    Method of Application 
    Interested and qualified candidates should:
    Click here to apply online

    How to Apply for Carbon Nigeria Graduate Management Trainee Programme 2023

    To apply for the Carbon Nigeria Graduate Management Trainee Programme 2023, you need to follow these steps:

    • Visit the official website of Carbon Nigeria.
    • Click on the “Apply Now” button at the bottom of the page.
    • Fill in your personal details, educational background, work experience, and skills.
    • Upload your CV and a cover letter explaining why you are interested in the programme and what you can contribute to Carbon Nigeria.
    • Submit your application and wait for feedback from the recruitment team.
    Carbon Nigeria Graduate Management Trainee Recruitment Process

    • People Screening : The candidates will be screened based on their CVs and cover letters.
    • Online Test : The candidates will be required to take an online test that assesses their numerical/data skills or programming/coding experience (SQL, Retool & python).
    • Assessment Centre/Interviews : The candidates will be invited to an assessment centre or an interview where they will work on technical projects and interact with the Heads of Department.

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  • Anambra Principals Suspended for Defying Free Education Policy

    Anambra Principals Suspended for Defying Free Education Policy

    Four principals of secondary schools in Anambra State have been suspended by the state Ministry of Education for allegedly defying Governor Chukwuma Soludo’s new policy on education, which abolished levies in primary and junior secondary schools in the state.

    The suspended principals are from Washington Memorial Grammar School, Onitsha, Kenneth Dike Secondary School, Awka, New Era Secondary School, Onitsha, and Prince Memorial High School, Onitsha.

    Read Also I have no hand in Mohbad’s death, coming home to clear my name – Naira Marley. Do you believe him?

    The Commissioner for Education, Prof. Ngozi Chuma-Udeh, announced the sanctions and also constituted a committee to investigate the activities of these principals. If found guilty, they will be required to refund the amounts they collected.

    Governor Soludo’s “Solution Free Education” policy aims to provide free education from early childhood development up to Junior Secondary School (JSS 3) without any fees. In the senior secondary, students are limited to paying a maximum of N5,000 for running costs, and this money is not to be paid into government coffers.

    Read Also Naira Crashes to over N1,000 per Dollar Despite Tinubu’s Float Policy

    Despite these announcements, the suspended principals allegedly continued to charge fees, leading to their suspension. The investigation will determine whether they indeed violated the policy.

  • I have no hand in Mohbad’s death, coming home to clear my name – Naira Marley. Do you believe him?

    I have no hand in Mohbad’s death, coming home to clear my name – Naira Marley. Do you believe him?

    Popular Nigerian singer Naira Marley, also known as Azeez Fashola, has declared that he is not responsible for the death of late singer Mohbad and intends to return to Nigeria to assist in the ongoing investigation into the circumstances of his former signee’s demise.

    The statement was released by Naira Marley’s management team via his Instagram handle following controversies surrounding Mohbad’s sudden death on September 12, 2023, and his subsequent burial.

    Read Also Naira Crashes to over N1,000 per Dollar Despite Tinubu’s Float Policy

    Naira Marley, in the statement, denied any involvement in Mohbad’s death, whether directly or indirectly. He expressed grief over Mohbad’s passing and criticized the various lies and threats against him.

    The singer clarified that while they had disagreements while working together, it never escalated to the extent portrayed by some. They were in the process of legally resolving their business disputes before Mohbad’s passing.

    Read Also Senate Confirms Olayemi Cardoso as CBN Governor, Others

    Naira Marley, who has been out of the country since August 31, 2023, confirmed that he is making arrangements to return to Nigeria in response to a police invitation. He emphasized his willingness to cooperate with the police and stated that he has no reason to be a fugitive since he is innocent of the accusations.

    He suggested that someone with a vendetta against him is behind Mohbad’s death and is fueling public opinions to tarnish his image. Naira Marley pledged to prove his innocence and cooperate with the authorities to clear his name.

    Read Also Nationwide Strike: TUC and NLC Declare Indefinite Shutdown. See When

    He also clarified that Marlian Music, his record label, is not involved in any criminal activities and reiterated his dedication to proving his innocence.

    Naira Marley expressed condolences to Mohbad’s family and called for supporting the police and authorities with relevant information and evidence to ensure justice is served.

    He assured that the truth would prevail, and he would honor Mohbad’s memory while promising to do right by him and his family.

    MohBad’s Death: 11 Facts to Know About His Life and Career

  • Naira Crashes to over N1,000 per Dollar Despite Tinubu’s Float Policy

    Naira Crashes to over N1,000 per Dollar Despite Tinubu’s Float Policy

    In a historic dip, the Nigerian naira exchanged at N1,005 to the United States dollar at the parallel market, revealing the challenges faced in managing the national currency amidst high inflation under President Bola Tinubu’s leadership.

     

    While the central bank’s official rate had seemingly stabilized at N779.55 per dollar over the past week, the naira’s value plummeted significantly in the parallel market, where most foreign exchange transactions occur in Nigeria.

    Read Also Senate Confirms Olayemi Cardoso as CBN Governor, Others

    Daily exchange rates from various parallel market sources reported that on Tuesday morning, the dollar was sold at N1,000 and closed at N1,005 per dollar.

    This situation highlights the ongoing struggles with the naira’s value, which has faced a steep decline since 2016, partly attributed to President Muhammadu Buhari’s influence over the central bank’s activities, leading to decreased international investment and increased demand for the dollar within Nigeria.

     

    Former Central Bank Governor Godwin Emefiele criticized Abokifx in 2021, accusing it of manipulating the exchange rate in the parallel market.

     

    Read Also Nationwide Strike: TUC and NLC Declare Indefinite Shutdown. See When

    Despite Abokifx’s temporary shutdown in September 2021, the naira’s depreciation at the parallel market continued. Critics suggested that Emefiele should have focused on stabilizing the naira rather than pursuing his 2023 presidential ambitions, which seemed to have diverted his attention from his role as Nigeria’s top banker.

    Read Also Federal High Court Halts Impeachment of Ondo Deputy Governor, See details 

    The naira’s decline against the dollar has persisted, even with Tinubu’s efforts to allow the free market to determine its value. When Tinubu assumed office on May 29, it was trading at about N650.

     

    Both the presidency and the central bank have yet to comment on the naira’s historic fall.

     

    Previous Reports

  • Senate Confirms Olayemi Cardoso as CBN Governor, Others

    Senate Confirms Olayemi Cardoso as CBN Governor, Others

    The Senate has officially confirmed Mr. Olayemi Cardoso as the Governor of the Central Bank of Nigeria (CBN), along with several other nominees.

    The confirmation came following a closed door meeting chaired by Senate President Godswill Obot Akpabío, who presided over the session. This session marked the Senate’s resumption from a two month annual recess.

    Read Also Nationwide Strike: TUC and NLC Declare Indefinite Shutdown. See When

    In addition to Mr. Olayemi Cardoso, the Senate also confirmed the following nominees as deputies to the CBN Governor:

    During their screening process, members of the Senate focused on various economic concerns, with particular emphasis on the exchange rate between the Naira and other currencies, especially the United States Dollar.

    Read Also APC Chieftain Begs Atiku to Forgive Tinubu and Drop Chicago Case for Nigeria’s Sake

    Several senators, including Jimoh Ibrahim, Adams Oshiomhole, and Elisha Abbo, expressed their discontent over the economic challenges facing the country, highlighting the significant devaluation of the Naira.

    In light of these concerns, the new CBN leadership has been urged to explore innovative approaches to address these economic challenges and strengthen the Naira’s value.

    Read Also Federal High Court Halts Impeachment of Ondo Deputy Governor, See details 

    The confirmation of Mr. Olayemi Cardoso and his team comes at a critical time when economic stability and exchange rates are central issues for Nigeria. Their leadership will play a pivotal role in shaping the country’s economic policies and addressing the challenges ahead.

  • Nationwide Strike: TUC and NLC Declare Indefinite Shutdown. See When

    Nationwide Strike: TUC and NLC Declare Indefinite Shutdown. See When

    The Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC) have jointly declared an indefinite nationwide strike set to commence on October 3, 2023.

    This announcement was made during a joint press conference held in Abuja and attended by TUC President Festus Osifo and NLC President Joe Ajaero.

    Read Also APC Chieftain Begs Atiku to Forgive Tinubu and Drop Chicago Case for Nigeria’s Sake

    The decision to proceed with the strike was a response to what the unions perceive as the Federal Government’s lack of commitment to addressing their demands following the removal of fuel subsidies.

    Ajaero, in his address, criticized the government for its perceived reluctance to engage in constructive dialogue during the 21-day ultimatum and the two-day nationwide warning strike held on September 5th and 6th, 2023.

    Read Also Federal High Court Halts Impeachment of Ondo Deputy Governor, See details 

    Both the NLC and TUC’s National Executive Councils (NEC) have condemned the government’s handling of the petrol price hike and its impact on the citizens. They emphasized the urgent need for remedial action to alleviate the suffering and deprivation experienced by Nigerians.

    Ajaero accused the government of abandoning its responsibility and failing to take necessary steps to mitigate the hardship caused by the petrol price hike. He also claimed that the government had hindered peaceful dialogue with organized labor.

    Festus Osifo, TUC President, added that the strike action was intended to demonstrate the unions’ resolve for a truly independent Nigeria and to take control of the nation’s destiny.

    As part of the strike, workers across Nigeria have been directed to withdraw their services starting from October 3rd. Additionally, affiliates and state councils have been urged to organize street protests and rallies until the government positively responds to their demands.

    Read Also FCCPC Summons Erisco Foods Over Arrest of Dissatisfied Consumer

    The unions have called on all patriotic Nigerians to join in their efforts to prioritize the welfare of the people in government policies and programs. This strike action is expected to have significant implications for various sectors across Nigeria, and its outcome remains uncertain as negotiations between the unions and the government continue.

  • APC Chieftain Begs Atiku to Forgive Tinubu and Drop Chicago Case for Nigeria’s Sake

    APC Chieftain Begs Atiku to Forgive Tinubu and Drop Chicago Case for Nigeria’s Sake

    APC Chieftain Appeals to Atiku to Withdraw Case Against Tinubu in Chicago.

     

    In a plea for national unity and dignity, Hyde Kalu, a youth leader of the All Progressives Congress (APC) in Abia State, has urged former Vice President Atiku Abubakar to discontinue his legal case in the United States challenging the validity of President Bola Tinubu’s educational qualifications. Kalu argues that this case is bringing negative attention to Nigeria on the global stage and calls upon Atiku to save the country from further embarrassment.

    The appeal comes after Judge Jeffrey Gilbert of a Chicago Magistrate Court ordered the Chicago State University to testify under oath regarding President Tinubu’s academic records at the university. In response, President Tinubu filed an emergency appeal citing “severe and irreparable damage” to his reputation if the court’s order was granted.

    Read Also Tinubu vs Atiku at Chicago State University, 11 things you need to know

    Atiku Abubakar’s legal challenge revolves around contesting the declaration of President Tinubu as the winner of the February 25 presidential election, with one of the grounds being the alleged forgery of academic records submitted to the Independent National Electoral Commission (INEC).

    Kalu’s press statement emphasizes that Atiku is a statesman and expresses the belief that both he and President Tinubu have Nigeria’s best interests at heart. He asserts that for the sake of the country and considering the friendship between the two leaders, it is crucial to discontinue the case in the United States and rely on the Nigerian judiciary to resolve any post-election disputes arising from the 2023 presidential election.

    Kalu concludes by emphasizing that Nigerians should avoid airing their “dirty linens in public” and strive for a dignified resolution of any election-related matters. He hopes that this plea will help save Nigeria from further international embarrassment and maintain the country’s reputation on the global stage.

  • Federal High Court Halts Impeachment of Ondo Deputy Governor, See details 

    Federal High Court Halts Impeachment of Ondo Deputy Governor, See details 

    The Abuja Division of the Federal High Court has issued an injunction preventing the Ondo House of Assembly from impeaching Deputy Governor Lucky Aiyedatiwa based on allegations of gross misconduct. The court also ordered Governor Rotimi Akeredolu not to nominate a new deputy governor pending the outcome of the substantive matter.

    Justice Emeka Nwite made this decision in response to an ex-parte motion presented by Mr. Aiyedatiwa’s lawyer, Kayode Adewusi. The judge expressed the view that granting the application would serve the interests of justice.

    Read Also FCCPC Summons Erisco Foods Over Arrest of Dissatisfied Consumer

    The injunction effectively halts any ongoing impeachment proceedings against Deputy Governor Aiyedatiwa in the Ondo State House of Assembly. It also prevents the appointment of a new deputy governor until the court hears and determines the substantive case.

    Justice Nwite’s decision came after Mr. Aiyedatiwa filed a motion on notice dated September 21, seeking four reliefs in response to the impeachment threat. The embattled deputy governor had named the Inspector General of Police, the State Security Service (SSS), Governor Rotimi Akeredolu, the Speaker of the Ondo Parliament, the Ondo Chief Judge, and the Ondo State House of Assembly as respondents in the suit.

    Read Also Ejes Gist News emerges as fast growing trusted online news platform

    The court’s ruling included an interim injunction that prevents Governor Akeredolu, his representatives, or associates from harassing, intimidating, embarrassing, or obstructing Deputy Governor Aiyedatiwa in carrying out his duties.

    Justice Nwite granted all the reliefs sought by Mr. Aiyedatiwa and scheduled the matter for a hearing on October 9, 2023.

    It’s worth noting that Mr. Aiyedatiwa had also filed another suit, marked AK/348/2023, at the Akure Division of the Ondo High Court. In this suit, he sought to halt the assembly from proceeding with the impeachment process until the court hears and decides on the case filed on Monday.

  • FCCPC Summons Erisco Foods Over Arrest of Dissatisfied Consumer

    FCCPC Summons Erisco Foods Over Arrest of Dissatisfied Consumer

    The Federal Competition and Consumer Protection Commission (FCCPC) has taken action against Erisco Foods Limited following the arrest of a dissatisfied consumer who posted a negative review of one of the company’s products on Facebook.

    The incident began when Chioma Egodi Jnr. expressed her dissatisfaction with Erisco Foods’ Nagiko Tomato Mix on September 17. In response to her negative review, Erisco Foods reportedly had her arrested, which caught the attention of the FCCPC.

    Read Also Ejes Gist News emerges as fast growing trusted online news platform

    Babatunde Irukera, the executive vice-chairman of FCCPC, confirmed that the commission’s operatives had verified the consumer’s arrest. He stated on his Twitter account, “@fccpcnigeria operatives have confirmed arrest & transfer of the case to Abuja by the Police Force. She was no longer at the station on arrival. Working to determine exact current location & engaging Force HQ in Abuja. Summons being issued to @EriscoFoodsLtd immediately.”

    The FCCPC’s decision to summon Erisco Foods is aimed at obtaining an explanation from the company regarding the arrest. The commission emphasized the importance of ensuring that businesses do not engage in actions that stifle the free expression of citizens.

    Read Also Dollar to Naira Today black market Sep 26 2023: Abokifx dollar rate Today

    “This is to ensure that businesses are not engaging in conduct that creates a chilling effect on legitimate citizens’ expressions. Indeed, the author of a public statement owes a certain level of obligation for the truth and veracity of their statements,” the FCCPC stated.

    The FCCPC also reminded businesses that there are legally accepted thresholds for fairness and fair speech, which are constitutionally protected. Companies have the right to respond to statements they find outrageous or in violation of the law, but they should not seek or facilitate the arrest of citizens for expressing their opinions.

    In response to the situation, Erisco Foods released a statement in which they pledged to take all necessary actions against any malicious attacks on their reputation.

    This incident raises important questions about the balance between freedom of expression and corporate responses to online reviews. The FCCPC’s actions serve as a reminder that businesses should be mindful of their responses to consumer feedback and avoid overreactions that could have legal consequences.

  • Ejes Gist News emerges as fast growing trusted online news platform

    Ejes Gist News emerges as fast growing trusted online news platform

    Ejes Gist News, a prominent Nigerian online news platform published Ejes Gist Media Limited, has garnered recognition as one of the most trusted online news sources in Delta State. This commendation comes from the Humanitarian Movement for Development (HMD), a non-governmental organization dedicated to advancing human rights, peace, and development in Nigeria.

    The HMD, led by its Executive Director, Mr. John Oghene, officially acknowledged Ejes Gist News on September 25, 2023. In their statement, they lauded the platform for its comprehensive coverage across a wide spectrum of topics, including local news, politics, sports, entertainment, Npower updates and the latest job listings.

    The accolade extended to Ejes Gist News goes beyond quantity; it encompasses the quality of reporting as well. The HMD commended the platform for its accuracy, reliability, and timely delivery of news and information, serving a broad readership not only in Nigeria but also worldwide. The recognition acknowledged the dedicated team of journalists, editors, and contributors behind Ejes Gist News, all of whom diligently craft high-quality content that resonates with their audience’s needs and expectations.

    Ejes Gist News provides advertising opportunities, enabling both businesses and individuals to reach a diverse and extensive audience.

    The HMD congratulated Ejes Gist News on its achievements and encouraged the platform to continue upholding the core principles of journalism. They emphasized the importance of delivering factual, balanced, and objective news and information to an ever-discerning readership.

  • Dollar to Naira Today black market Sep 26 2023: Abokifx dollar rate Today

    Dollar to Naira Today black market Sep 26 2023: Abokifx dollar rate Today

    The Dollar to Naira black market exchange rate today Tuesday, September 26, 2025, including Abokifx dollar rate Today.

    Access the current Abokifx exchange rate in Nigeria today black market and accurate information regarding the most recent dollar to naira black market exchange rate today & currency conversion rates.”

    What’s the current Dollar to Naira exchange rate in the black market, also referred to as the parallel market (commonly know as Aboki FX)?

    Dollar to Naira black market yesterday

    The exchange rate for a dollar to naira black market exchange rate at Lagos (Parallel Window ) players buy USD for N997 and they sell at N1000 on Monday, September 25, 2025, this according to date obtained by Ejes Gist Newspaper from Bureau De Change (BDC).

     

    Please note that the Central Bank of Nigeria (CBN) does not recognize the Dollar to Naira today black market abokifx (parallel window), as it has directed individuals who want to engage in Forex to approach their respective banks.

    Abokifx dollar to naira today black market : nairaland

    Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
    Buying Rate N990
    Selling Rate N997

     

    100 dollars to Naira black market today is ₦99700

    Please, it is very important note that the rates at which you buy or sell forex may be different from what is captured in this article because prices vary.

    Central Bank of Nigeria (CBN) Naira Exchange Rates for banks.

    Banks in Nigeria are now using I & E exchange rates in selling and buying Dollars.

    See Dollar to Naira exchange rate: CBN and Banks – Sep 26, 2025

    Euro To Naira Black market exchange rate ngnrates.com

    The euro to naira exchange rate on September 15 , 2025, is as follows:

    • Buying rate: N1573.83/€
    • Selling rate: 1575.83/€

    This means that you can buy 1 euro for ₦1575.83 , and you can sell 1 euro for ₦1573.83 .

     

    Pound To Naira Black market exchange rate ngnrates.

    Pound to naira exchange rate at the Investors and Exporters (I&E) window on September 15 , 2025:

    • Buying rate: ₦1,04.41
    • Selling rate: ₦1,075.80

    This means that you can buy 1 pound for 1,035.41 naira, and you can sell 1 pound for 1,035.80 naira.

    Why Exchange Rates Matter

    Understanding exchange rates is not only for currency traders but also for businesses involved in international trade, travelers planning trips abroad, and anyone conducting financial transactions that involve converting between the Naira and Dollar. These rates can affect prices, profits, and the overall economic landscape

    Factors Influencing Foreign USD to Naira Exchange Rate.

    The following are the facts responsible for the depreciation of the Nigerian currency.

    Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.

    dollar to naira today black market ,Aboki Dollar to Naira Today

    Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.

    Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the Nigerian currency..
    Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.
    Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.
    Latest Dollar to Naira Black Market Exchange Rate Today -, Naira To Dollar Black Market Rate

    Some important Quick Links

    Final Thoughts on dollar to naira today black market exchange rate.

    In today’s interconnected world, understanding currency conversion rates is fundamental. The Aboki Dollar to Naira exchange rate and the black market rate offer unique perspectives on currency valuations in Nigeria. Staying informed empowers you to navigate the complexities of currency exchange, optimize transaction values, and make sound financial choices.

    Stay tuned for future updates on currency exchange rates, ensuring you always have the most accurate and current information for all your currency conversion needs.

    That is all for now , for latest news updates in Nigeria always visit Ejes Gist Newspaper.

  • Dollar to Naira exchange rate today, Sep 26, 2023: CBN and Banks

    Dollar to Naira exchange rate today, Sep 26, 2023: CBN and Banks

    Are you looking for the latest information on the Dollar to Naira bank rate and the Central Bank of Nigeria (CBN) exchange rate? Look no further. On this Tuesday, September 26, 2023, we provide you with the most up-to-date currency exchange rates in Nigeria.
    The Central Bank of Nigeria (CBN) plays a pivotal role in maintaining exchange rate stability by publishing the Nigerian Naira’s official rate against the US Dollar daily. This information is invaluable for businesses and individuals engaged in currency conversions between the two currencies.

    CBN Official Naira to Dollar yesterday.

    The CBN Naira to Dollar exchange rate yesterday, closed at N774.77 per dollar.

    Dollar to Naira CBN and Bank Exchange rate today

    As of Tuesday, September 26, 2023, the latest data from the Central Bank of Nigeria (CBN), the Official exchange rate of dollar to naira CBN rate today  is as follows:.

    What is CBN exchange rate today?

     

    CBN Official naira to dollar rate today

    Also see Dollar to Naira today 26th september 2023 at black market Abokifx

    The CBN Official naira to dollar, effective as of today, play a significant role in facilitating financial transactions and conversions between the Nigerian naira and the US dollar. It is important to note that exchange rates may fluctuate in response to market conditions and other factors.

    Dollar to Naira bank rate today.

    The Dollar to Naira bank rate today  is ₦780.54 to one dollar. Therefore 100  dollar to naira will give ₦77750

     

    Important Notice: The Investors & Exporters FX window ( I&E FX Window) is now the CBN Official Naira to Dollar exchange rate.

    CBN Exchange Rate for Naira to Dollar explainer

    This means that if you want to buy 1 US dollar at the Central Bank of Nigeria (CBN) or the Importer and Exporter (I & E) Foreign Exchange Windows, you will need to pay N780.54. Conversely, if you wish to sell your dollar at the I & E window, 1 US dollar will yield you N779.54.

    What happened to Nigerian naira to US dollar

    Exchange rates can indeed fluctuate daily due to various economic factors, so it’s crucial for individuals and businesses to check the Central Bank of Nigeria (CBN) website or other reliable sources for the most current rates before engaging in any currency transactions. Staying updated on exchange rates ensures that transactions are conducted at the most favorable rates, helping to save money and make informed financial decisions.

     

    Quick Links

    Read Also 

    Dollar to naira black market today August 1, 2023 | Aboki fx rate

    Dollar to naira black market today September 7, 2023 | abokifx

    Dollar to naira black market today August 1, 2023 | Abokifx

    Black Market Dollar To Naira Exchange Rate Today 
    Graphic of Dollars and Nairas

     

     

    Here are some of the factors that can affect the CBN exchange rate between the Nigerian naira and the US dollar:

    • Demand and supply: If there is more demand for the US dollar than there is supply, the exchange rate will go up. Conversely, if there is more supply of the US dollar than there is demand, the exchange rate will go down.
    • Economic factors: The state of the Nigerian economy and the US economy can also affect the exchange rate. For example, if the Nigerian economy is doing well, the naira will be more valuable. Conversely, if the Nigerian economy is doing poorly, the naira will be less valuable.
    • Political factors: Political instability in Nigeria or the US can also affect the exchange rate. For example, if there is a coup in Nigeria, the naira will likely lose value.

    CBN Exchange Rate

    If you are planning to travel to Nigeria or the US, it is important to factor in the exchange rate when budgeting for your trip. You can use a currency converter to get an estimate of how much your money will be worth in the other currency.

     

    You can also check the CBN website for the latest exchange rates. The website also has a currency converter that you can use.

    That is all for now in the Official Naira to Dollar exchange rate today which is all the I & E dollar to naira exchange. Dollar to Naira Bank Rate Today

    Thanks for reading CBN Official naira to dollar exchange rate today and Dollar To Naira Bank Rate Today.  l hope this cbn exchange rate us dollar to naira post has been helpful. If you have any questions, please feel free to leave a comment below.

  • Nigerian Army 86Rri Shortlisted Candidates 2023/2024 (Pdf download)

    Nigerian Army 86Rri Shortlisted Candidates 2023/2024 (Pdf download)

    How to Check the Nigerian Army 86Rri Shortlisted Candidates 2023/2024 (PDF) and Prepare for the Screening Exercise

    Are you one of the thousands of Nigerians who applied to join the Nigerian Army Recruitment as a soldier? If yes, then you must be eager to know if you have been shortlisted for the 86 Regular Recruits Intake (RRI) recruitment exercise. In this blog post, we will show you how to check the Nigerian Army 86RRI shortlist and what to do next if you are successful.

    The Nigerian Army 86RRI recruitment exercise is a nationwide online application process that started on September 25 and ended on October 10, 2023. The aim of the exercise is to enlist young and qualified Nigerians into the Nigerian Army as soldiers. The recruitment exercise is free of charge and there is no preselection computer based test or zonal screening exercise.

    Nigerian Army 86Rri Shortlisted Candidates

    The Nigerian Army has released the list of candidates shortlisted for the 86RRI recruitment exercise on its official website. The list is available in PDF format and can be downloaded by clicking the link below.

    [DOWNLOAD THE LIST OF THE SHORTLISTED CANDIDATES HERE]

    The PDF file contains a list of all shortlisted candidates. You can search for your name or check the list by State as it is arranged according to States. If you are not on the list, it means that you were not selected for the next stage of the recruitment process. However, you can still try again next year when another recruitment exercise will be announced.

    Also see Nigerian Army Recruitment 86rri 2023 form is out. See How to Apply

    If your name is among the Nigerian Army 86RRI shortlisted candidates, congratulations! You have made it to the next stage of the recruitment process, which is the State Recruitment Screening Exercise. This is where you will be tested on your physical fitness, medical condition, and psychological aptitude. The screening exercise will take place in various centers across the country from November 6 to November 19, 2023.

    How to prepare for Nigerian Army 86Rri screening Exercise.

    To prepare for the screening exercise, you need to follow these general instructions:

    • Report to your respective state of origin for the screening exercise with the following documents:
    • Original copies of WASCE/GCE/NECO/NABTEB Certificate in a file jacket.
    • Printed Bank Verification Number (BVN) certificate authenticated by a bank.
    • Valid birth certificate as endorsed by the National Population Commission, hospital, Local Government Council of birth or valid age declaration.
    • Valid certificate of state of origin.
    • WASCE/ GCE/NECO/NABTEB online scratch card.
    • Completed copies of the print outs from the portal including guarantor forms.
    • 2 pairs each of plain white T shirts and blue shorts.
    • A pair each of white canvass and white socks.
    • Trade Test / City guild Certificate (if applicable).
    • Do not alter or forge any of your documents, as this will render them invalid and lead to your disqualification.
    • Do not use any electronic, mobile or recording devices during the screening exercise, as this will result in your disqualification.
    • Maintain a high standard of discipline and do not violate any instruction during the screening exercise, as this will result in your disqualification.
    • Do not pay any money or offer any inducement to anyone to assist you in the screening exercise, as this is illegal and fraudulent.

    Nigerian Army 86Rri Shortlisted Candidates and what next 

    If you are successful in the screening exercise, you will be shortlisted for training at Depot NA. You will receive further information and updates via email and/or phone. You can also check the official website of the Nigerian Army [here] or call the following support lines if in doubt: 070812711985 and 07041467033.

    That is all for now on Nigerian Army 86Rri Shortlisted Candidates. We wish you all the best in your quest to join the Nigerian Army and serve your country. Remember to stay focused, determined, and disciplined throughout the recruitment process.