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Dollar to Naira Black Market Rate: Everything You Need to Know (February 2, 2024)

The Dollar to Naira black market rate is an unofficial exchange rate determined by supply and demand, often more favorable than the official Central Bank of Nigeria (CBN) rate.

Looking to exchange dollars for naira on the black market or parallel market? This article provides current rates, key terms, and important information.

What is the Black Market Rate?

The Dollar to Naira black market rate is an unofficial exchange rate determined by supply and demand, often more favorable than the official Central Bank of Nigeria (CBN) rate. However, transactions occur outside regulated channels, carrying inherent risks.

 

Key Terms:

  • Buying Rate: The price you pay in naira to obtain one dollar.
  • Selling Rate: The amount of naira you receive for exchanging one dollar.
  • BDC Operators/Abokis: Individuals or businesses facilitating black market exchanges.

Today’s Rates (February 2, 2024)

 

Black Market Rate

  • Buying ₦1425
  • Selling ₦1435

CBN Rate

  • Selling ₦1414
  • Buying ₦1413

Please note that

  • Rates are fluid and can change rapidly.
  • Lagos and Abuja often offer better rates due to their strategic location.
  • Transactions carry inherent risks due to the unregulated nature of the black market.
  • Consider alternatives like licensed bureau de change operators for safer transactions.
  • This information is for informational purposes only and does not constitute financial advice.

Remember: Exercise caution when exchanging currencies on the black market. Always compare rates, inquire about fees, and prioritize safety and transparency.

 

Disclaimer: I am not affiliated with any financial institutions and cannot endorse specific services or providers.

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Entertainment News

Actress Ini Edo Sets Tongues Wagging With New Photos

Nollywood actress Ini Edo has left her fans drooling after she shared gorgeous photos dressed in black.
The actress took to her Facebook page to delight her fans with her beautiful photos.
She wore a black flowing dress that hugged her body, showing off her impressive curves.
Sharing the photo, she wrote: “Falling in love with me all over again. It’s the brown sugar spice.”
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Entertainment News

Yul Edochie Not Less Qualified Than Other Nigerian Pastors – Daddy Freeze

Popular media personality, Ifedayo Olarinde, aka Daddy Freeze has slammed those castigating controversial actor, Yul Edochie after he unveiled his online ministry.
According to him, Yul isn’t less qualified than any Nigerian pastor to open a ministry.
Recall that Edochie has been under heavy criticism since announcing the launch of his online Ministry, The Salvation Ministry, where he will be preaching the gospel.
Reacting, Daddy Freeze stated that Yul isn’t less qualified than any Nigerian pastor to open a Ministry, as long as he preaches the truth.
On his Instagram page, he wrote: “Yul Edochie is not less qualified than any Nigerian pastor to open a ministry as long as he preaches the truth.
 
“Your lying @ss pastors with their f@les monetized doctrines, conjured miracles, and testimonies are doing more harm to the gospel than Yul can ever do. Focus on all the failed prophecies GOs and the life imprisonment Bishops, leave Yul.”
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Entertainment News

I’d Love to Work With Rihanna, Beyonce, Kendrick Lamar – Ayra Starr

Grammy-nominated Nigerian singer, Oyinkansola Sarah Aderibigbe aka Ayra Starr has listed the musicians she would love to work with.
She listed global music giants, Rihanna, Victoria Monét, Beyonce, Kendrick Lamar and J.Cole and stated that she would love to work with them.
The ‘Rush’ crooner made this known in a recent interview with Cool FM Nigeria.
 
“I would love to work with Rihanna, Victoria Monét, Beyonce, Kendrick Lamar and J.Cole,” Ayra Starr said.
She disclosed that her biggest motivation is her “commitment to excellence.”
On people criticizing her music or person, Ayra Starr said, “I read stuff [social media comments], I see stuff. Sometimes if it’s very bad I just let them [critics]. I feel like I’m in my let them era.
 
“But sometimes if it’s stupid, I just block.”
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Entertainment News

Why I Admitted Cheating On My Ex-husband – Korra Obidi

Popular Nigerian singer and dancer, Korra Obidi has opened up on why she confessed to cheating on husband, Justin Dean.
She had in a 2022 interview admitted to cheating on her husband while she was in Nigeria before she moved to America to be with him.
Speaking in a recent interview with News Central, the mother of two explained that she made the confession because she doesn’t want to live with the secret.
She said she didn’t regret confessing her infidelity, stressing that her confession brought a lot of revelations.
She said, “If I had not said what I said, if I had not come through with my truth, it wouldn’t have brought out all the truths that came to light.
 
“As you saw on the blogs, I admitted to that [cheating]; he [my ex-husband] admitted to a lot of things. So it was like we were both doing these things.
 
“And we would have been living in a lie to please the public. And how long can you do that? So I would never regret saying I was having commitment issues before I came to America. I never said this [my ex-husband] is the only man I’m going to be sleeping with for the rest of my life.
 
“So I dabbled. I admitted to it openly. And a lot of people insulted me for it but at the end of the day, I would never live with a secret to death.”
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Entertainment News

I Have My Grammys Speech Ready – Ayra Starr

Grammy-nominated Nigerian singer, Oyinkansola Sarah Aderibigbe aka Ayra Starr has revealed that her acceptance speech is ready.
She said it with the mind of winning Grammy this year. afte being nominated.
Recall that Ayra Starr’s song ‘Rush’ was nominated in the maiden Best African Music Performance category at the 66th Grammys.
In a recent interview with Cool FM Nigeria, the Mavin Records artist said she is set to receive the award despite stiff competition.
 
“I have my Grammys speech ready. It is quite long because it is the first African category. I already know my walk, my outfit,” Ayra Starr said.
She said the first thing she would do when she wins the award is to go to a Chinese restaurant and eat and then video call her mum.
The 66th Grammy Awards will be held on Sunday, February 4, 2024, in Los Angeles.
Ayra Starr’s ‘Rush’ will contest the maiden Best African Music Performance award with Davido’s ‘Unavailable’, Asake and Olamide’s ‘Amapiano’, Burna Boy’s ‘City Boys’ and Tyla’s ‘Water.’
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Entertainment News

Why I Love Money More Than Women – Portable

Popular Nigerian street artist, Portable has taken to Instagram to reveal why he loves money more than women.

He stated that money injects energy into him and with money he can always take care of his many women.

Recall that the singer dragged his fourth baby mama, Ashabi Simple for labeling him her husband.

He had noted that she’s his side chick and all he had done was get her pregnant and not pay her bride price.

See reactions to the video below;

yusufomobolanleola said: “Side chick Dey suffer 000 the girl no talk anything bad for that interview sha”

typretty2022 said: “Lori oro portable Oluwatoyin gba ope”

marley_kween said: “Shey wonti interview e ri kenu e kan”

ageless_sweetsoul penned: “We are your online mummy’s. We would tell you korokoro, when you messed up. As we dey love you love you music, Na so we go take correct you, if you make mistakes”

omotolani_brown_ asked: “Why u do like that for asahbi naw na love she love u oo”

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Entertainment News

Make Money Before Chasing Women – Shallipopi Educates Men

Nigerian singer, Shallipopi has urged men to ensure they make money before going after ladies.

The singer counselled men to acquire money before pursuing a woman, not the other way around.

He went on to inquire about the possibilities of sustaining a girl in the absence of money.

He said: “Get the funds and chase the girl. Don’t chase the girl before you get the funds. And if you chase the girl and you get the girl, how are you going to sustain the girl when there’s no funds.”

 

See Video Below;

Check out some reactions below;

Oloye Okanlomo wrote: “When you get funds, they’ll chase you. You don’t need to stress.”

Balox noted: “Broke people shouldn’t have a girl”

C.O.A said: “He should face his secondary school anthems and !gbo. No one needs his advice.”

fowosere1 wrote: “Must u chase girl if u get d funds, na bcs of girl u won chase funds?? Better change ur dealer guy 🤷‍♀️🤷‍♀️”

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Entertainment News

I Don’t Joke With Her – Yul Edochie Appreciates Second Wife, Judy Austin

Popular Nigerian actor/director, Yul Edochie has taken to Instagram to appreciate his second wife, Judy Austin.

The minister of God shared a photo of his actress wife and wrote: “You see this lady here, I don’t joke with her.”

He then proceeded to hail her, referring to her as ”Ijele Odogwu”.

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Entertainment News

Rapper Travis Scott Gifts Janitor $5,000 to Take Night Off And Enjoy Concert

American rapper, Travis Scott has left a janitor in a state of utter shock after gifting him $5,000.
The incident happened at the rapper’s recent tour stop at Miami.
After seeing a janitor wield a mop to clean up after all the sweaty ragers, he halted the show and questioned the venue’s motives for having the guy tarnish his mosh pit’s essence.
He then asked the janitor to drop the mop and soak up the rest of the show as a fan because he’s paying him $5K to do so.
As the crowd got charged up by Travis’ random act of kindness, he lit them up even more by dropping his Playboi Carti-assisted banger “Fein” on the crowd, causing them to lose it and sweat even more.

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