Ejes Gist News

Year: 2024

  • Philip Shaibu, Asue Ighodalo emerge as Edo PDP governorship candidates

    Philip Shaibu, Asue Ighodalo emerge as Edo PDP governorship candidates

    Lagos-based lawyer Asue Ighodalo emerges victorious in the Peoples Democratic Party (PDP) governorship primaries in Edo state. The fierce competition saw Ighodalo triumph over nine other contenders, a notable figure among them being the incumbent deputy governor of the state, Philip Shaibu.

    Tinubu Govt benefiting from dollar-to-naira hike – APC Senator

    The high-stakes election unfolded on Thursday, February 22, at the bustling Samuel Ogbemudia Stadium in the heart of Edo’s capital.

    With a resounding mandate, Ighodalo secured 577 votes, solidifying his position as the PDP’s nominee for the upcoming September 2024 polls.

    The atmosphere at the stadium was charged with anticipation as party members and supporters eagerly awaited the results that would shape the political landscape in the state.

    Black Market Dollar rate to Naira Exchange today 22 February 2024

    The Chairman of the Edo PDP Primary Electoral Committee, and concurrently, the Governor of Zamfara state, Dauda Lawal, formally declared Asue Ighodalo as the victorious candidate.

    Ighodalo’s triumph not only highlights his political acumen but also underscores his recognition as a financial and legal expert.

    This outcome sets the stage for an intriguing gubernatorial race in Edo State, as Ighodalo prepares to navigate the challenges ahead on his quest for leadership.

     

    Philip Shaibu emerges as  PDP Governorship candidate

    In a surprising twist in the political landscape of Edo State, Deputy Governor Philip Shaibu has emerged as the factional candidate for the Peoples Democratic Party (PDP) in the upcoming 2024 governorship election.

    The parallel primary, held independently of the main PDP process, saw Shaibu clinch victory with an impressive tally of over three hundred and one votes.

    This development introduces an intriguing dynamic to the political narrative, as Shaibu, a key figure in Edo State’s current administration, stakes his claim in the race for the gubernatorial seat.

    The factional nature of the primaries underscores the complexity and internal dynamics within the PDP, setting the stage for a contest that promises to be closely watched and hotly debated.

    As the deputy governor emerges from the factional primaries with a decisive mandate, the political landscape in Edo State gains an additional layer of intricacy.

     

    The upcoming election is now poised to witness a competitive clash of candidates, each vying for the opportunity to shape the future trajectory of the state.

    Thanks for using our platform to learn about latest Naija New on Philip Shaibu and Asue Ighodalo emerged as PDP Governorship candidates. Always stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • Governor Sanwo Olu to Feed 1,500 Residents Daily Through ‘Mama Put’

    Governor Sanwo Olu to Feed 1,500 Residents Daily Through ‘Mama Put’

    Mama Put on Duty: Sanwo-Olu’s Vision for Daily Feeding in Lagos

    Governor Babajide Sanwo-Olu”‘Mama Put’ on Duty: Sanwo-Olu’s Vision for Daily Feeding in Lagos of Lagos State has declared that his government will collaborate with local canteens to provide daily meals for 1,000 to 1,500 residents in each local government area.

    This announcement was made during a media chat on Thursday, where the governor emphasized that this feeding initiative would extend for a minimum of two months. He conveyed that measures are already in place to identify the caterers responsible for the implementation of this program.

    Read also:Week 35 Pool result today Saturday March 2, 2024: UK Wk35 Football Pool Results Pool Agent

    Governor Sanwo-Olu underscored the significance of this move, stating that it aims to mitigate the impacts of the escalating cost of living and economic hardships in the country.

    He explained that they are steering away from the conventional soup kitchen approach, having successfully implemented a similar strategy during the COVID-19 period.

    The governor further elaborated on the plan, expressing the intention to enlist Mama Put and other caterers for the initiative. The goal is to provide meals to 1,000 to 1,500 residents daily in each local government for the initial 30 to 60 days.

    Read also:Federal High Court Directs NPC to Disclose Expenses in Suspended Census

    The logistics are actively being addressed, with caterers identified and funds allocated to them. Vouchers will be distributed to facilitate a seamless process, ensuring that individuals can walk in and receive a daily meal.

    Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • President Tinubu is Set to Sign Executive Orders Aimed at Reducing Prices of Essential medicines

    Healthcare Reforms Unveiled: President Tinubu Executive Orders

    In an imminent move to alleviate the cost burden of pharmaceuticals on Nigerians, President Bola Tinubu is set to sign executive orders aimed at reducing the prices of essential medicines.

    The announcement came from the Minister of State for Health, Tunji Alausa, and was communicated through a post on X by the Special Adviser to the President on Information and Strategy, Bayo Onanuga on Wednesday.

    This strategic decision is a response to the soaring prices of pharmaceutical products, a growing concern for many Nigerians. Minister Alausa stated that the executive orders are expected to provide “immediate succour” to citizens, addressing the urgent need for affordable healthcare products in the country.

    Read also:Federal High Court Directs NPC to Disclose Expenses in Suspended Census

    The move to regulate pharmaceutical prices through executive orders was underscored a month prior by the Minister of Health, Ali Pate, who emphasized the necessity of such measures following the withdrawal of major multinational pharmaceutical companies from the Nigerian market.

    This departure has intensified the challenge of accessing reasonably priced medicines, making government intervention critical.

    Minister Alausa explained, “Mr. President has asked us to come up with a set of Executive Orders that he is going to sign to provide immediate succour to Nigerians about the high cost of pharmaceuticals.”

    He highlighted that these executive orders, addressing short-term solutions, will reach the President’s table in the next few days. The ministry is also collaborating with other sectors to develop medium and long-term plans for a sustainable solution.

    Acknowledging the historical inadequacies in planning that led to the current situation, Alausa assured Nigerians that President Tinubu is committed to swiftly resolving the problem. Despite challenges, the minister emphasized the administration’s dedication to fulfilling campaign promises, including revamping and improving Nigeria’s healthcare system.

    Read also:Tinubu Govt benefiting from dollar-to-naira hike – APC Senator

    The 2024 healthcare budget is touted as the largest in Nigeria’s history, reflecting the administration’s commitment to long-term solutions.

    As Nigerians endure the current circumstances, Minister Alausa assured that the costs of pharmaceuticals will witness a significant reduction soon.

    Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • Federal High Court Directs NPC to Disclose Expenses in Suspended Census

    Federal High Court Directs NPC to Disclose Expenses in Suspended Census

    Federal High Court Verdict: NPC to Reveal Details of Expenses on Aborted Census

    In a recent development, a Federal High Court in Abuja has issued an order compelling the National Population Commission (NPC) to disclose detailed expenditure information related to the suspended 2023 Population Census within the next seven days.

    Originally slated for 2022, the census faced a delay, with former President Muhammadu Buhari indefinitely suspending the exercise just before leaving office. The responsibility of announcing new dates was deferred to President Bola Tinubu, and now the census is rescheduled for November 2024.

    Earlier, in June 2023, the NPC had declared an expenditure of N200 billion for the preparation of the postponed census. However, Abuja-based lawyer Opatola Victor took legal action after the NPC denied his request for expenditure details through a Freedom of Information Act filing.

    Read also:Drama Ensues Between Market Neighbours In Lagos Island Market Over Roof Construction (Video)

    In the case marked FHC/ABJ/CS/503/2023, Victor argued that the NPC’s refusal breached his rights under Section 4 of the FOI Act 2012. He sought an order of mandamus compelling the NPC to provide the spending records and requested a compensation of N500,000 for the violation of his rights.

    Justice Inyang Ekwo, in delivering the judgment, dismissed the NPC’s claims of bureaucratic challenges and the executive chairman’s absence as reasons for withholding information.

    The judge also rejected the NPC’s assertion that certain information was classified, emphasizing that, based on the definition of classified information, there was no secrecy involved.

    Read also:Man Arraigned Over Alleged Theft Of Two Cell Phones

    Consequently, Justice Ekwo ruled the NPC’s refusal to release the requested information as wrongful, illegal, and unconstitutional. He ordered the NPC to provide comprehensive and detailed information concerning the Quality Test Assurance Report on the devices and technology intended for the postponed 2023 population census.

    However, the judge declined to award the requested N500,000 in favor of the plaintiff, as stated in the lawsuit.

    Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • Man Arraigned Over Alleged Theft Of Two Cell Phones

    A 24-year-old man, Kolawole Ayomiposi, was docked before Ado-Ekiti Chief Magistrate’s Court on Thursday over the alleged theft of two cell phones.

    The defendant, of no fixed address, is standing trial on a charge of stealing.

    Earlier, the prosecutor, Insp Elijah Adejare, informed the court that the defendant committed the offense on February14 at about 12:00 noon at Fayose market in Ado-Ekiti.

    He alleged that the defendant stole an Infinix Spark 6 phone valued at N45,000 and Infinix Hot 10 phone worth N50,000 belonging to the complainant, Olakehinde Ayomide.

    Adejare said the offense contravened Section 302 of the Criminal Law of Ekiti State, 2021.

    He urged the court to adjourn the case to enable him to study the file and assemble his witnesses.

    The defendant, however, pleaded not guilty to the charge preferred against him.

    Counsel to the defendant, Mrs Adeola Awe, urged the court to grant the defendant bail, with a promise that he would not jump bail.

    Chief Magistrate Bankole Oluwasanmi granted the defendant N80,000 bail with one surety in like sum and adjourned the case until March 27 for hearing.

  • Drama Ensues Between Market Neighbours In Lagos Island Market Over Roof Construction (Video)

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    Posted by Amarachi on Thu 22nd Feb, 2024 – tori.ng

    According to the narration, the woman residing above attempted to sabotage her downstairs neighbour’s roof construction project.

    market

    There was heated tension between two neighbours at the Lagos Island market over the construction of a roof.

    According to the narration, the woman residing above attempted to sabotage her downstairs neighbour’s roof construction project.

    She was observed using a stick to thwart any efforts to erect the roof.

    Watch The Video Below;

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  • Tinubu Govt benefiting from dollar-to-naira hike – APC Senator

    Tinubu Govt benefiting from dollar-to-naira hike – APC Senator

    APC Senator, Senator Ali Ndume has said the federal government is not losing out from the naira depreciation against the dollar, but rather gaining more revenue to…

    According to Senator Ali Ndume, the federal government is actually gaining more revenue to support its 2024 budget rather than losing out on the naira’s depreciation against the dollar.

    He clarified that the 2024 budget, which President Bola Ahmed Tinubu unveiled in November, is a “dollarized” budget in terms of income because the majority of the government’s income is derived from the export of dollars-priced crude oil.

    Read Also: Black Market Dollar rate to Naira Exchange today 22 February 2024

    Speaking during an interview with Channels Television, Ndume noted that as the value of the dollar increased, the government would have more naira to spend on its expenditure, which is denominated in naira.

    He added that Nigeria’s major product, crude oil is still in high demand in the global market, and that the country will benefit from the current dollar-to-naira exchange rate.

    Naira to Dollar, Pounds to Naira, Euro to Naira Black Market Exchange Rates Today 22 February 2024

    10 countries approach ICJ against Israel’s occupation of Palestine

    He said, “Don’t forget that this budget is a ‘dollarised’ budget, especially in terms of the income. And when it comes to the terms of the expenditure, it’s in naira.

    “So if we are getting our money in dollars and the value of the dollar is up, that means we will have more naira in terms of what we spend, because we are not spending in dollars, we are spending in naira, while we are getting our revenue in dollars.

    “Truly, the value of naira against the dollar has fallen but we are selling our major product that we generate income in dollars. And that means any dollar we get now will also be valued at the current dollar-to-naira exchange rate.

    “So if you do the analysis critically, it may mean if you balance it up, we may have more money to fund our budget. So technically, Tinubu’s  government is even benefiting from the dollar-to-naira hike.”

     

  • Black Market Dollar rate to Naira Exchange today 22 February 2024

    Black Market Dollar rate to Naira Exchange today 22 February 2024

    Ejes Gist News has officially obtained the official Naira to dollar exchange rate in Nigeria today including the Dollar-to-Naira 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 ₦1,910 and sell it at ₦1,915 however, it is important to keep in mind that the rate can shift (either upwards or downwards) within hours.

    Tinubu Govt benefiting from dollar-to-naira hike – APC Senator

    See the black market Dollar to Naira exchange rate for 22 February, below. You can swap your dollar for Naira at these rates.

    How much is a dollar to naira today in the black market?

    Dollar to naira exchange rate today black market (Aboki dollar rate):

    The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1705 and sell at N1710 on Thursday 22 February 2024, according to sources at Bureau De Change (BDC).

     

    Dollar to Naira Black Market Rate Today

    Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
    Buying Rate N1910
    Selling Rate N1,915Dollar to Naira CBN Rate Today
    Dollar to Naira (USD to NGN) CBN Rate Today
    Buying Rate N1,605
    Selling Rate N1,607

     

    Please be aware that due to price fluctuations, the rates at which you buy or sell forex may differ from those shown in this article. 

  • Lagos State Civil Servants Welcome Change: From 5 to 3 Workdays

    Lagos State Civil Servants Welcome Change: From 5 to 3 Workdays

    Lagos State Unveils Game-Changing Workweek: A New Dawn for Civil Servants

    Lagos State Governor, Babajide Sanwo-Olu, announced that the state government is finalizing plans to introduce a flexible workweek for its employees. During a media chat with journalists on Thursday in Lagos, the governor outlined the new arrangement.

    Civil servants from level 1 to 14 will work from their offices for only three days a week. Additionally, employees on levels 15 to 17 are expected to report to their offices four times a week, reflecting a tailored approach to different grade levels within the civil service.

    Read also:Nigeria’s Hardship: CDS Musa Addresses Calls for Coup

    This policy adjustment aims to revolutionize the work environment for public sector workers in Nigeria’s commercial hub, striving to improve productivity and work satisfaction among the state’s workforce.

    The decision to embrace a more flexible work schedule showcases the Lagos State Government’s commitment to innovative work practices that accommodate the diverse needs of its employees.

    By reducing the number of days employees are required to be physically present at the office, the state government anticipates various benefits, including reduced traffic congestion, lower commuting costs for workers, and a more relaxed work atmosphere.

    Read also:Tragedy As Man Dies In Lagos Beach While On Valentine’s Day Love Feast With His Church Members

    The Governor stated, “From next week, civil servants from level 1 to 14 will come to the office a maximum of three times a week. It will be calendarized and scheduled, ensuring the continuity of all forms of government operations. Those on levels 15 to 17 will miss work for one day.”

    Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • Tragedy As Man Dies In Lagos Beach While On Valentine’s Day Love Feast With His Church Members

    Remilekun Oriyomi

    A prophet of Celestial Church of Christ Shogbamu Parish in the Gbagada area of Lagos State, Remilekun Oriyomi, who went missing has been found dead at a beach in Lagos State.

    According to reports, the youths in the church had organized a Valentine’s love feast at the Beach Resort in Ogombo, Lagos State on Saturday 17th of February, 2024.

    It was gathered that the Shepherd warned the Parish Youths not to embark on this journey, but they were adamant and still went ahead with the plan.

    Prophet Oriyomi who led 15 other youths to the beach was declared during the beach hangout on Saturday. After a frantic search, his body was later found on Monday, February 19.

  • Nigeria’s Hardship: CDS Musa Addresses Calls for Coup

    Nigeria’s Hardship: CDS Musa Addresses Calls for Coup

    The Chief of Defence Staff (CDS), General Christopher Musa, has revealed that some individuals are calling for a military coup in Nigeria amid the economic hardship the country is experiencing.

    Musa, describing such individuals as enemies of the country, assured that a coup would not happen in Nigeria. Instead, he disclosed that the military would pursue those advocating for a coup and ensure they face the wrath of the law.

    The CDS made this statement on Wednesday shortly after inaugurating the main entrance of the 6 Division, Nigerian Army, and Officers Transit Accommodation at the Division Headquarters in Port Harcourt, Rivers State.

    Read also:President Tinubu Appoints DCG Kemi Nandap As New Comptroller-General Of Immigration

    He reiterated the military’s commitment to its constitutional duties of protecting the nation’s territorial integrity and further pledged the Armed Forces’ commitment to safeguarding Nigeria’s democracy.

    According to the CDS: “Whoever is making that call for a coup does not love Nigeria. We want to make it clear that the Armed Forces of Nigeria are here to protect democracy. We all want democracy, and we do better under democracy. So, we will continue to support democracy.

    Anyone calling for anything other than democracy is an evil person and, I think, does not mean well for Nigeria. They should be careful because the law will come after them. We can see that with democracy, a lot of things are happening in Nigeria. Yes, we are going through trying periods; I mean, in life, nothing is a hundred percent.”

    Musa stated that the federal government is focused on addressing the current economic challenges across the country and appealed to Nigerians to exercise patience.

    He said: “Everybody goes through a trying period in life, and it is what you do with them. You can see the government putting efforts to ensure that we come out better. When you go through difficulties and come out better, you will appreciate what it is to build a nation.

    Read also:Presidency Takes Stand: Bans Online Forex, Cryptocurrency Operations

    So, we are going through our trying period, but I can assure Nigerians that it will get better. All we need is for everyone to put our hands together to ensure that we defeat those enemies of the government, those enemies of this country that don’t want us to succeed.

    We will surely succeed, and the Armed Forces are here to support the government in ensuring that we develop, we succeed, and to see that there is peace in Nigeria.”

    Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • President Tinubu Appoints DCG Kemi Nandap As New Comptroller-General Of Immigration

    DCG Kemi Nanna Nandap has been appointed as the Comptroller-General of the Nigeria Immigration Service (NIS), effective from March 1, 2024.

    According to a statement by Presidential spokesman, Ajuri Ngelale, released on February 21, DCG Nandap takes over from Mrs. Caroline Wura-Ola Adepoju, whose term in office expires on February 29, 2024.

    He said before she was appointed Comptroller-General, Nandap was the Deputy Comptroller-General in charge of the Migration Directorate of the Service.

    “The President anticipates that the new Comptroller-General will deepen the ongoing reforms in the service.

    “And create a robust mechanism for efficient and dedicated service delivery to Nigerians, as well as strengthen the nation’s security through proactive and effective border security and migration management,

    ” he added
     

  • Presidency Takes Stand: Bans Online Forex, Cryptocurrency Operations

    Presidency Takes Stand: Bans Online Forex, Cryptocurrency Operations

    Forex Turmoil: Presidency Takes Hard Stance with Ban on Leading Crypto Platforms

    The Presidency has confirmed the ban on online cryptocurrency and Foreign Exchange (Forex) platforms operating within the country.

    Tope Fasua, the Special Adviser to President Bola Tinubu on Economic Affairs (Office of the Vice President), confirmed this on Wednesday.

    Ejes Gist News reported that the Federal Government had blocked major online crypto platforms to prevent the continuous manipulation of the forex market and the illicit movement of funds.

    Read also:BSU: ASUU Vows To Continue Strike

    This latest development follows an order from the National Security Adviser, Nuhu Ribadu, for a crackdown on currency speculators in the country.

    It was learned that the Nigerian Communications Commission (NCC) relayed the directive to telecommunications companies to block access to the crypto platforms.

    The decision to act against the crypto and forex firms was reportedly made following reports that currency speculators and money launderers were using these platforms for criminal activities.

    Some of the crypto firms blocked include Binance, Forextime, OctaFX, Crypto.com, FXTM, Coinbase, and Kraken, among others.

    In a discussion with The Cable, Fasua praised the government’s steps to address the naira’s free fall, especially the ban on crypto and forex platforms.

    He said, “In less than two hours after the FG banned crypto and Binance, the dollar dropped from N1850 to N1390. I pray this is sustainable.”

    Read also:BSU: ASUU Vows To Continue Strike

    Fasua further noted that the floating of the naira contributed to the rising cost of living and the economic hardships Nigerians are facing.

    He asserted that the country’s economy is too fragile to withstand the naira float. “The economy is too fragile for that. The naira float made prices go up everywhere,” he stated.

    Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

  • BSU: ASUU Vows To Continue Strike

    BSU: ASUU Vows To Continue Strike

    The strike embarked upon by the Academic Staff Union of Universities, ASUU, Benue State University, has continued following the inability of the university management to meet the demands of the union.

    This was disclosed by the Chairman of ASUU-BSU, Dr. Kwaghfan Tarnongo while speaking to journalists in his office on Wednesday in Makurdi.

    He disclosed that the management of the university was yet to meet the demands of ASUU.

    The ASUU-BSU chairman, who exonerated the Benue State Government, stated that the government paid about N70 million monthly to address their demands and wondered why the university management refused to pay them.

    Tarnongo revealed some of the demands of ASUU to include: incremental arrears, promotion and earned academic arrears, among others.

    Explaining further, the Chairman pointed out that in academic allowances alone, the BSU management was owing 44 months for the old staff and 23 months for the new staff.

    He lamented that as Benue citizens they have the interest of the students at heart but there was no alternative to the action they took to press home their demands.

    When journalists sought the reaction of the Vice Chancellor of the university, Prof Tor Iorapuu, he declined comment.

    He, however, said the State Government was involved in the matter.

  • Realtor Bitten By Snake During Land Inspection (Video)

    Posted by Amarachi on Thu 22nd Feb, 2024 – tori.ng

    The video shows other people present at the scene of the incident running to save the realtor after the snake bite.

    realtor

    A realtor was seen in a viral video groaning in pain after being bitten by a snake during land inspection.

    The video shows other people present at the scene of the incident running to save the realtor after the snake bite.

    Others could be heard calling for a vehicle to be brought so the victim could be rushed to the hospital.

    The snake was later killed.

    Watch The Video Below;

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  • JUST IN: Exchange Rate for Cargo Clearance Hits N1,605/$ 

    JUST IN: Exchange Rate for Cargo Clearance Hits N1,605/$ 

    The Federal Government, through the Central Bank of Nigeria, has once again adjusted the exchange rate for cargo clearance, setting it at N1,605/$.

    This adjustment comes just days after the rate had initially risen to N1,515/$ and later dropped to N1,472. The exchange rate has experienced fluctuations between January and now, with several adjustments.

    Read Also : Naira to Dollar, Pounds to Naira, Euro to Naira Black Market Exchange Rates Today 22 February 2024

    It transitioned from N952/$ in December to N1,356/$, then moved to N1,413/$ before reaching N1,444/$. Subsequently, it rose to N1,515 before the latest adjustment to N1,605.

    Forex Crisis: FG Blocks Binance, OctaFX, Coinbase, and Others

    A visit to the portal of the Nigeria Customs Service on Wednesday confirmed the reflection of the new rate, indicating the latest change in the exchange rate for cargo clearance.

  • Naira to Dollar, Pounds to Naira, Euro to Naira Black Market Exchange Rates Today 22 February 2024

    Naira to Dollar, Pounds to Naira, Euro to Naira Black Market Exchange Rates Today 22 February 2024

    What is the Dollar to Naira Exchange Rate at the Black Market, the Pounds to naira black market Today and the Euro To Naira today black market also known as the Parallel Market (Aboki FX)? 

    Please find below the black market exchange rate for the dollar to Naira on February 22. These are the rates at which you can exchange your dollar for Naira.

    How much is a Naira to dollar today in the black market? Dollar to Naira Exchange Rate Today in the Black Market (Aboki Dollar Rate):

    Dollar to Naira Black Market Rate Today, February 22, 2024:

    Dollars to Nairas (USD to NGN) Black Market Exchange Rate Today

    • Buying Rate: N1890
    • Selling Rate: N1900

    Pounds to Naira black market Today.

    The British Pounds to Naira exchange rate is as follows.

    • Buying Rate: N2225
    • Selling Rate: N2230

    Euro To Naira today black market

    The Euro To Naira black market exchange rate today is :

    • Buying Rate: N1890
    • Selling Rate: N1915

    While the Central Bank of Nigeria (CBN) sets the official foreign exchange rate, transactions happening outside authorized channels, like the parallel market, operate independently. It is recommended to use authorized channels like banks for foreign exchange transactions.

    Naira to Dollar, Pounds to Naira, Euro to Naira Black Market Exchange Rates Today 21 February 2024

    Dollar to Naira CBN Rate Today:

    Dollar to Naira (USD to NGN) CBN Rate Today

    • Buying Rate: N1,500
    • Selling Rate: N1,504

    Euro to Naira CBN Rate Today:

    Dollar to Naira Exchange rate Today (CBN rates)

    • Buying Rate: N1,494
    • Selling Rate: N1,493

    Pounds to Naira Today

    Pounds to NGN CBN Rate Today

    • Buying Rate: N1,886
    • Selling Rate: N1,887

    Euro to Naira Today

    Euro to Naira exchange rate Today

    • Buying Rate: N1,612
    • Selling Rate: N1,613

    Please be advised that the rates at which you buy or sell forex may differ from those displayed in this article due to price fluctuations.

    Meanwhile, at the Lagos Parallel Market, popularly referred to as the Black Market, the exchange rate between the US dollars and the Naira concluded at 1650 per dollar yesterday, as reported by sources in the Bureau De Change (BDC).

    Naira Continues Depreciation Streak, Tumbles to N1,900/$ at Parallel Market.

     

    In the latest turn of events, the Nigerian naira continued its depreciation, falling to N1,900 against the dollar in the parallel section of the foreign exchange (FX) market on Tuesday.

    This marks a 9.83 percent decline from the N1,730 recorded the previous day. Currency traders, also known as Bureau de Change (BDC) operators, quoted the buying rate at N1,850 and the selling rate at N1,900, with a profit margin of N50.

    Expressing concerns, a trader named Aliyu stated, “We don’t understand the rate, and it will get more expensive tomorrow.”

    However, at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency saw a recovery, reaching N1,551.24 per dollar on Tuesday. This signifies a 2.9 percent appreciation from the N1,598.54 traded on Monday.

    Data from the FMDQ Securities Exchange, the platform overseeing FX trading in Nigeria, revealed an intra-day high of N1,701 and a low of N1,100 for the local currency.

    In ongoing efforts to restore market stability and enhance liquidity, the Central Bank of Nigeria (CBN) and the Office of the National Security Adviser (ONSA) have joined forces. Their partnership aims to investigate and penalize individuals engaged in illicit activities within the FX market. This coordinated effort involves key law enforcement agencies such as the Nigeria Police Force (NPF), the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service (NCS), and the Nigeria Financial Intelligence Unit (NFIU).

    On February 20, 2024, President Bola Tinubu announced that his administration is actively working to raise at least $10 billion. The goal is to increase liquidity, stabilize the naira, and foster economic growth.

    Keep up with the latest news and updates with Ejes Gist News, your reliable source for news in Nigeria right now on the Dollar to Naira Black Market.

  • Forex Crisis: FG Blocks Binance, OctaFX, Coinbase, and Others

    Forex Crisis: FG Blocks Binance, OctaFX, Coinbase, and Others

    The Nigerian government has blocked online platforms like Binance, OctaFX, Coinbase, and others due to concerns about continuous forex market manipulation and illicit fund movements.

    Sources from major telecommunication companies revealed that the Nigerian Communications Commission (NCC) conveyed the directive to telcos, who have started implementing the block on these platforms.

    Binance banned in Nigeria

    Apart from Binance, other platforms affected include Forextime, OctaFX, Crypto, FXTM, Coinbase, Kraken, among others.

    The decision to block these platforms stems from the government’s effort to prevent the further decline of the local currency and reports of their use by currency speculators and money launderers for criminal activities.

    The government, including the Federal Inland Revenue Service (FIRS) and regulatory sources, asserts that these platforms contribute significantly to the weakening of the naira.

    Despite warnings from regulatory bodies, Binance continued operations, attracting a substantial user base, especially among urban youths and suspected speculators.

    Binance responded on Wednesday, stating that users behaving manipulatively would be removed from the platform. The company emphasized collaboration with local authorities, lawmakers, and regulators to ensure compliance.

    It mentioned specific measures, such as setting an upper limit for ads, filtering and removing bad ads, requiring and raising deposits for merchants posting ads, and processes for actioning against any market manipulators.

    President Bola Tinubu, represented by Vice President Kashim Shettima, announced plans on Tuesday to raise $10 billion to enhance liquidity in the foreign exchange market. The naira hit an all-time low of N1,900 per dollar in the parallel market, while at the Nigerian Autonomous Foreign Exchange Market (NAFEM), it appreciated slightly to N1,551.24.

    Amidst speculations and uncertainties about supply constraints, the National Security Adviser’s office directed law enforcement agencies to take firm measures against those engaged in forex market speculation.

    The statement highlighted the collaboration between the Office of the National Security Adviser and the Central Bank of Nigeria to address challenges impacting the nation’s economic stability, acknowledging commendable proactive measures by the CBN but expressing concerns about speculative activities undermining these efforts.

  • Why Labour Party National Chairman, Julius Abure Was Arrested

    Why Labour Party National Chairman, Julius Abure Was Arrested

    Labour Party Chairman Julius Abure Arrested: Reasons Revealed

    The Nigeria Police Force (NPF) has disclosed the reasons behind the arrest of Julius Abure, the National Chairman of the Labour Party (LP).

    Earlier, Ejes Gist News reported the arrest of Abure on Wednesday by the Police in Benin City, the Edo State capital.

     

    Abure’s apprehension is linked to allegations of premeditated attempted murder and financial infractions, among other charges, according to information gathered by Arise News. The arrest followed a petition submitted by the party’s former Youth Leader, Eragbe Anselm Aphimia.

    Breaking: Police Arrests Julius Abure, Labour Party National Chairman

    This development comes just a day before the party’s primary election in Edo State, with party officials yet to comment on the matter.

    The LP Chairman had previously faced criticism amid accusations of misappropriating party funds exceeding N3 billion.

    The suspended National Treasurer, Oluchi Opara, accused Abure of misusing N3.5 billion generated from the sales of nomination forms and other activities ahead of the 2023 general election.

    Julius Abure
    Julius Abure and policemen

    Abure, in response to the allegation, denied the claim, stating that only N1.5 billion was obtained from the sales of nomination forms.

  • No Going Back on Nationwide Protest, Labour Replies DSS

    No Going Back on Nationwide Protest, Labour Replies DSS

    No Going Back on Nationwide Protest, Labour dares DSS

    The leadership of Organised Labour has responded to the Department of State Services (DSS) regarding its warning that the union should shelve its proposed protest scheduled for February 27 and 28.

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    DSS had urged the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to reconsider their decision, citing the plea as being in the interest of peace across the country.

    In response to the DSS warning, NLC President Joe Ajaero stated that the DSS should not blackmail Organised Labour and arrest those intending to use the protest opportunity to incite crisis and, by extension, widespread violence.

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    Ajaero described the upcoming action as a “peaceful protest against the unpardonable cost of living,” emphasizing that the Congress would not stand idly by while Nigerians continue to live in poverty.

    He stated, “We are concerned about the unsolicited advice of the Department of State Security to shelve our planned protest against the unprecedented high cost of living, despite the indescribable suffering in the land, spiralling inflation, deepening poverty, and the Naira at an exchange rate of N1,900 to the US Dollar.

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    “According to the Service, the planned protest should be shelved ‘in the interest of peace and public order,’ presupposing that the action is intended to be violent and disruptive even when we have a history of peaceful protests.

    “More worrying is the new role the Service has assigned to itself, the chief spokesperson of the government.

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    “According to the Service, ‘It is common knowledge that all levels of Government are striving to ameliorate the prevailing economic condition and as such, should be given the benefit of the doubt. So far, appropriate authorities are working assiduously with a spectrum of stakeholders to fashion out modalities to address the current difficulties.’

    “We are equally worried that although the Service is aware that some elements are planning to use the opportunity of the protest to foment crisis and, by extension, widespread violence, they have not executed the arrest of these elements.

    “We are equally intrigued by the innuendos of the Service, their philosophy of ‘peace,’ and wild allegations, and we want to reassure them that no one loves this country more than us, and on our honour, we would never do anything that will compromise its sovereignty or security.

     

    “Having said this, we would not have ourselves blackmailed or lied against by the Service. Our protest is a peaceful one against the unpardonable cost of living, of which the unserviced personnel of the Service are also victims. We cannot fold our hands and pretend all is well. That will be a grievous conspiracy that history will not forgive.”