Ekiti Tragedy: A Sad Tale likened to Chibok Girls Abduction and The Urgent Need for Improved Security Measures and Leadership in Nigeria
In Ekiti State, Nigeria, a group of Islamist Fulani militants has abducted approximately twelve Christian children from their school bus....
Understanding the Dynamics of the Nigerian Black Market Exchange Rate: Current Exchange Rate, Factors and Fluctuations”
The Nigerian black market, an informal platform for currency exchange, offers rates often divergent from the Central Bank of Nigeria’s official numbers due to supply-demand imbalances, restrictions, and regulatory scarcity. Factors like inflation, political instability, and economic policies cause daily fluctuations in exchange rates between the US dollar and Nigerian naira. As of January 31, 2024, the black market sell rate for USD to Naira stands at ₦1,470, up 4.74% from the previous week’s average, reflecting the dynamic and complex nature of this parallel market system.