Dollar to Naira Exchange Rate – Black Market Update for September 17, 2024

As of Monday, September 16, 2024, the exchange rate for the black market, also known as the parallel market, is as follows:

  • Buying Rate: ₦1,662 per USD
  • Selling Rate: ₦1,665 per USD

In comparison, the Central Bank of Nigeria (CBN) rates are:

  • Buying Rate: ₦1,645 per USD
  • Selling Rate: ₦1,646 per USD

Petrol Price Increase Across Nigeria

The Nigeria National Petroleum Company Limited (NNPCL) has announced an increase in petrol prices nationwide. This change follows the higher purchase price from Dangote Refinery, which sold petrol at ₦898.78 per liter in USD.

The new estimated pump prices are:

  • Lagos: ₦950.22
  • Sokoto: ₦999.22
  • Kano: ₦999.22
  • Borno: ₦1,019.22
  • Kaduna: ₦999.22
  • FCT: ₦992.22
  • Oyo: ₦960.22
  • Rivers: ₦980.00
  • Imo: ₦980.22

Prices vary by state due to distribution costs, with Lagos experiencing the lowest rates.

INEC Denies PDP’s Request to Remove Edo REC Amid Election Controversy

The Independent National Electoral Commission (INEC) has rejected the Peoples Democratic Party’s (PDP) request to reassign Edo State’s Resident Electoral Commissioner (REC), Anugbum Onuoha, ahead of the governorship election on September 21.

The PDP raised concerns about Onuoha’s family ties with Nyesom Wike, the Minister of the Federal Capital Territory (FCT). Wike had previously supported Edo State Governor Godwin Obaseki’s second-term bid under the PDP but is now affiliated with the All Progressives Congress (APC). The PDP fears that Onuoha, who has previously worked with Wike, may bias the election results in favor of the APC.

Edo State PDP Chairman, Anthony Aziegbemhin, formally requested Onuoha’s redeployment from INEC Chairman Mahmood Yakubu, citing Onuoha’s past roles under Wike’s administration as evidence of potential bias.

However, INEC’s Chief Press Secretary, Rotimi Oyekanmi, stated that Onuoha would remain in his position. Oyekanmi assured that the election would be conducted impartially across 4,519 polling units and that results would be transparently uploaded to the INEC Result Viewing portal using the Bimodal Voter Accreditation System (BVAS).

The PDP’s request comes amid heightened tensions, with Obaseki and the PDP resisting signing a peace accord and warning of possible unrest if their concerns are not addressed.

Global Markets Cautious Ahead of Expected US Interest Rate Cut

Equity investors adopted a cautious stance on Monday as they anticipated a significant interest rate cut by the Federal Reserve this week while also grappling with concerns over the Chinese economy.

The yen appreciated to less than 140 against the dollar for the first time since mid-2023, ahead of the Federal Reserve’s decision on Wednesday and a subsequent Bank of Japan policy meeting. Gold prices reached a new record high.

Recent data indicating a slowdown in US inflation has fueled speculation about a substantial 50-basis-point rate cut by the Fed. Some analysts, however, caution that such a move might signal deeper economic concerns, particularly given recent softening in the labor market.

Wall Street’s main indexes rose on Friday, bringing the Dow and S&P 500 close to record highs, while Asian markets showed mixed results. Hong Kong, Sydney, and other Asian cities saw slight gains, whereas Singapore and Wellington experienced declines.

Currency markets saw the yen strengthening, and gold prices climbing to a record $2,589.70. Meanwhile, concerns over China’s economic performance continued after weak data on credit, retail sales, and industrial production, raising doubts about the effectiveness of recent policy measures.

The Federal Reserve’s upcoming decision, followed by the Bank of Japan’s meeting on Friday, is expected to significantly influence market movements.

ASUU Denounces Dismissals of 120 Academics Over Strike Participation

The Academic Staff Union of Universities (ASUU) Yola Zone has strongly criticized the dismissal of approximately 120 academics from various universities who participated in the 2021 national strike. ASUU Yola Zone Coordinator, Dani Mammam, named affected institutions including Federal University of Technology Owerri, Lagos State University, and Ebonyi State University, among others.

Mammam condemned the dismissals as a breach of human rights and academic freedom, asserting that the lecturers were merely exercising their right to advocate for improved working conditions. He has called for their immediate reinstatement and the payment of withheld salaries.

Bauchi University VC Denounces Fake Social Media Account

Abubakar Tafawa Balewa University, Bauchi, has issued a statement distancing itself from a fraudulent Facebook account falsely attributed to its Acting Vice-Chancellor, Professor Sani Usman Kunya. According to the university’s Director of Information and Public Relations, Zailani Bappa, the fake account appears to be part of a scam aimed at deceiving individuals into transferring money for a non-existent contract.

The statement clarifies that Professor Kunya does not have a Facebook account and will not conduct any official transactions or request financial assistance via social media. The university has urged the public and stakeholders to remain vigilant against such scams.

Nigeria and UK Clash Over Air Peace Landing Rights at Heathrow

The dispute between Nigeria and the United Kingdom has intensified over landing rights for Nigerian carrier Air Peace at London’s Heathrow Airport. Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, has sent a formal complaint to the UK Secretary of State for Transport, Louise Haigh, requesting that Air Peace be granted landing slots at Heathrow. Keyamo threatened reciprocal measures, including denying British Airways and Virgin Atlantic landing rights at Nigerian airports, if the request is not accommodated.

Air Peace, which currently operates from Gatwick Airport, has struggled to secure a slot at the more central Heathrow, a situation compounded by claims of missed deadlines for slot requests. The UK’s independent slot coordinator, Airport Coordination Limited, indicated that Air Peace failed to meet critical application deadlines, adding complexity to the dispute.

The bilateral aviation safety agreement (BASA) between Nigeria and the UK supports reciprocal landing rights but does not explicitly guarantee slots at specific airports like Heathrow. Keyamo’s complaint highlighted the disparity, noting that British carriers have unrestricted access to Nigerian airports while Air Peace faces obstacles in the UK.

Industry stakeholders and aviation experts have called for a resolution through diplomatic channels, echoing Keyamo’s sentiment that Nigerian carriers should be afforded equal treatment. The dispute reflects ongoing tensions over aviation rights and bilateral agreements between the two countries.

Zamfara Governor Expresses Deep Sadness OverFatal Boat Accident

Governor Dauda Lawal of Zamfara State has conveyed his profound sorrow following a tragic boat accident in Gummi Local Government Area that claimed the lives of over 40 individuals.

An overloaded boat, which collided with an oncoming vessel, capsized in the Bakin Kasuwa River, leading to the fatal incident. Governor Lawal described the mishap as a monumental disaster.

In response, the Zamfara State Emergency Management Agency (ZEMA) has been instructed to commence immediate rescue and recovery operations. The governor has also directed the Commissioner for Humanitarian and Relief Matters to oversee the provision of urgent relief to the affected families.

Governor Lawal offered prayers for the deceased, extended condolences to their families, and reaffirmed the state government’s commitment to preventing future tragedies.

40 Dead in Zamfara Boat Mishap

The Zamfara State Government has confirmed that 40 people died in a boat accident in Gummi Local Government Area. The incident occurred over the weekend when a boat capsized in the Bakin Kasuwa River at Uban Dawaki community.

Details of the Incident:

  • Location: Bakin Kasuwa River, Uban Dawaki ward, Gummi LGA.
  • Casualties: Over 40 lives lost.
  • Response: Governor Lawal has directed the State Emergency Management Agency (SEMA) to conduct rescue and recovery operations and assess the extent of the accident. The Commissioner for Humanitarian and Relief Matters has been instructed to provide relief materials to the victims’ families.

Governor Lawal expressed his condolences and assured that measures will be taken to prevent future occurrences. This tragedy follows a recent flood disaster in the same area, which destroyed over 2,000 houses and significant farmland.

Top Nigerian Performers Abroad: Lookman, Boniface, Osimhen Shine

Last weekend, Nigerian footballers continued to make their mark in leagues across Europe. Here’s a roundup of their standout performances:

Sunday, September 15:

  • Ademola Lookman (Atalanta): Scored and assisted in a 3-2 victory over Fiorentina in Serie A.
  • Moses Simon (Nantes): Provided an assist in their match.
  • Frank Onyeka (Augsburg): Made an assist on his debut in a 3-1 win against St. Pauli.
  • Josh Maja (West Brom): Assisted in a 2-0 win over Portsmouth.
  • Cyriel Dessers (Rangers): Assisted in their win against Dundee United.
  • Wilfred Ndidi (Leicester): Contributed two assists in their game.
  • Rasheedat Ajibade (Atletico Madrid Women): Was an unused substitute in a 2-1 win.

Saturday, September 14:

  • Ola Aina (Nottingham Forest): Played a key role in a 1-0 win over Liverpool, including a crucial goal-line clearance. Taiwo Awoniyi was an unused substitute.
  • Tom Dele-Bashiru (Watford): Scored in a 1-1 draw against Coventry City.

Notable Performances:

  • Victor Boniface (Bayer Leverkusen): Scored twice and assisted once in a 4-1 win over Hoffenheim.
  • Gift Monday (UD Tenerife): Scored twice and assisted once in a 4-1 victory against Sevilla.
  • Rinsola Babajide (UD Tenerife): Added a long-range goal in the same match.
  • Yira Sor (Genk): Scored and assisted twice in a 3-2 win at Cercle Brugge.
  • Victor Osimhen (Galatasaray): Had a stellar debut with seven shots on goal and an assist in a 5-0 win against Rizespor.

Highlights from the 76th Primetime Emmy Awards: Full List of Winners

The 76th Primetime Emmy Awards, held on Sunday in Los Angeles, celebrated the finest in television, with notable winners and groundbreaking performances.

Top Winners:

  • Best Drama Series: Shogun (FX)
  • Best Comedy Series: Hacks (HBO/Max)
  • Best Limited Series: Baby Reindeer (Netflix)

Acting Awards:

  • Best Actress in a Drama Series: Anna Sawai (Shogun)
  • Best Actor in a Drama Series: Hiroyuki Sanada (Shogun)
  • Best Actress in a Comedy Series: Jean Smart (Hacks)
  • Best Actor in a Comedy Series: Jeremy Allen White (The Bear)
  • Best Actress in a Limited or Anthology Series: Jodie Foster (True Detective: Night Country)
  • Best Actor in a Limited or Anthology Series: Richard Gadd (Baby Reindeer)

Supporting Awards:

  • Best Supporting Actress in a Drama Series: Elizabeth Debicki (The Crown)
  • Best Supporting Actor in a Drama Series: Billy Crudup (The Morning Show)
  • Best Supporting Actress in a Comedy Series: Liza Colón-Zayas (The Bear)
  • Best Supporting Actor in a Comedy Series: Ebon Moss-Bachrach (The Bear)
  • Best Supporting Actress in a Limited or Anthology Series: Jessica Gunning (Baby Reindeer)
  • Best Supporting Actor in a Limited or Anthology Series: Lamorne Morris (Fargo)

Directing and Writing:

  • Best Directing for a Drama Series: Frederick E.O. Toye (Shogun)
  • Best Directing for a Limited Series or Movie: Steven Zaillian (Ripley)
  • Best Directing for a Comedy Series: Christopher Storer (The Bear)
  • Best Writing for a Drama Series: Will Smith (Slow Horses)
  • Best Writing for a Limited Series or Movie: Richard Gadd (Baby Reindeer)
  • Best Writing for a Comedy Series: Lucia Aniello, Paul W. Downs, Jen Statsky (Hacks)
  • Best Writing for a Variety Special: Alex Edelman: Just for Us (HBO/Max)

Other Notable Awards:

  • Best Talk Series: The Daily Show (Comedy Central)
  • Best Reality-Competition Program: The Traitors (Peacock)

Hosted by Eugene and Dan Levy, the ceremony was broadcast live on ABC from L.A.’s Peacock Theater.