As of 17th October 2024, the black market (parallel market) exchange rate for the dollar to naira in Lagos sees players buying dollars at ₦1700 and selling at ₦1705. These rates were provided by sources at Bureau De Change (BDC). It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize […]
Category archives: News
States Exceeding the N70,000 Minimum Wage: A Full Breakdown”
In July 2024, President Bola Tinubu approved an increase in Nigeria’s minimum wage from N30,000 to N70,000. However, the implementation has varied across states, with some going beyond the federal mandate and announcing even higher wages. Below is a list of states that have committed to paying more than N70,000: Several other states have committed […]
Mr. Ibu’s Wife Pays Emotional Tribute on His Posthumous Birthday
Stella Maris, wife of the late Nollywood star John Okafor, popularly known as Mr. Ibu, has honored her husband on what would have been his 63rd birthday. Mr. Ibu passed away on March 2, 2024, at the age of 62 after a long illness. In an emotional Instagram post, Stella shared family photos and reflected […]
FG Affirms End of Fuel and FX Subsidies, No Plans for Reinstatement
The federal government of Nigeria has officially declared that fuel and foreign exchange subsidies are permanently discontinued and will not be reinstated. This announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the presentation of the Nigeria Development Update by the World Bank in Abuja on October […]
Obasanjo Hints at Future Revelations, Says “There Is Much to Say, But Not Yet Time”
Former Nigerian President, Chief Olusegun Obasanjo, has hinted at significant matters he wishes to address but stated that now is not the right time. He made this remark during the 67th birthday celebration of renowned lawyer Mike Ozekhome (SAN), where Obasanjo served as the chairman of the event. While praising Ozekhome as a courageous advocate […]
Oil Tycoon Sues EFCC for ₦5 Billion Over Unlawful Declaration as Wanted
Henry Akinduro, CEO of Global Signature Hotel and Total Grace Group Limited, has filed a ₦5 billion lawsuit against the Economic and Financial Crimes Commission (EFCC) for allegedly violating his rights by declaring him wanted without due process. The EFCC recently listed Akinduro as wanted following fraud accusations from Femi Olushakin. Akinduro’s legal team, led […]
Reps Warn of Possible Unrest Amid Deadlock in FG and Labour Talks on Fuel Price Hike
The House of Representatives has raised concerns over the recent fuel price hikes, warning that they could lead to social unrest. This warning came as talks between the Federal Government and labor unions reached a deadlock over the sudden increase in petrol prices. NNPC retail outlets recently raised fuel prices to ₦1,030 per litre in […]
Dollar to Naira Exchange Rate: Black Market Rates for 17th October 2024
The exchange rate between the U.S. dollar and the Nigerian naira continues to fluctuate in the parallel market. As of Wednesday, 16th October 2024, the rate for a dollar in the Lagos black market stands at ₦1,695 for buying and ₦1,705 for selling, according to Bureau De Change (BDC) operators. Black Market Dollar to Naira […]
Minister of Power Calls for Decentralized Grids to Prevent National Grid Collapses
The Minister of Power, Adebayo Adelabu, has highlighted the need for regional and state-specific power grids to prevent frequent national grid collapses in Nigeria. Speaking at the unveiling of Hexing Livoltek, an electricity meter manufacturing company in Lagos on Wednesday, Adelabu explained that the country’s current reliance on a single national grid leaves the entire […]
FG and Labour Strike Deal to Curb Rising Transport and Food Costs
The Federal Government and Organised Labour have reached an agreement aimed at addressing the soaring transport fares and food prices in Nigeria. This comes amid growing concerns about inflation and the high cost of living. The agreement was made following a meeting held at the Office of the Secretary to the Government of the Federation […]