Dollar to Naira Exchange Rate Today, September 3, 2025 CBN official rates close lower, ranging between ₦1,530 and ₦1,522. Exchange rate fluctuations highlight forex supply and demand pressures nationwide. The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate as traders, investors, and ordinary Nigerians monitor the value … Read more
The naira appreciated by N135 against the dollar, closing at N1,640 in the parallel market on Monday. In the official market, the naira strengthened to N1,539.55 from N1,541.68. The currency gains coincide with the Nigerian government’s announcement of a three-day public holiday for Christmas and New Year. The naira saw a significant appreciation against the … Read more
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange from the Nigerian Foreign Exchange Market (NFEM), which was recently launched. EKO HOT BLOG reports that in a circular dated December 19, 2024, and signed by T.G. Allu, on behalf of … Read more
The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday. According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,532 per dollar, up from N1,545 on Wednesday. Similarly, data from FMDQ indicated that the naira strengthened to N1,534.35 per dollar on Thursday, compared … Read more
The exchange rate between the naira and the US dollar fell to approximately N1,745/$1 on the parallel market on Wednesday, marking a sharp decline from the N1,600/$1 levels recorded at the end of last week. On various platforms, peer-to-peer (P2P) exchanges quoted rates as low as N1,715/$, while some International Money Transfer Operators reported rates … Read more
Jamilu Abdullahi, a Bureau de Change operator and the third prosecution witness in the trial of Ali Bello, testified on Tuesday, November 5, 2024, before Justice Obiora Egwuatu at the Federal High Court in Maitama, Abuja. EKO HOT BLOG reports that Abdullahi confirmed receiving funds from agents of the Kogi State Government, intended to cover … Read more
In court on Thursday, new details emerged regarding the immediate past Governor of Kogi State, Yahaya Bello, and his consistent payment of school fees for his three daughters in U.S. dollars through Jamilu Abdullahi, a Bureau de Change operator, and his affiliated companies. Abdullahi, who testified as the third witness in the case against the … Read more
EFCC targets BDC operators in major Nigerian cities. Raids have disrupted trading and contributed to the naira’s high exchange rate. The Association of Bureau De Change Operators confirmed the raids affected both street traders and some registered operators. EKO HOT BLOG reports that the Economic and Financial Crimes Commission (EFCC) has intensified its crackdown on Bureau … Read more
Middle Belt Youths Forum slams Akpabio for criticizing Emefiele Accuses Senate President of patronizing executive, seeking favors Defends Emefiele’s handling of naira, calls out Akpabio’s alleged corruption Eko Hot Blog reports that the Middle Belt Youths Forum (MBYF) has come out swinging against Senate President Godswill Akpabio for his recent comments demonizing former CBN Governor … Read more
PDP Sweeps Bayelsa, Secures Victory In All LG, Councillorship Positions. APC opts out of the election by not presenting candidates. Declaration of winners made across different local government areas, highlighting PDP’s comprehensive win. EKO HOT BLOG reports that the ruling Peoples Democratic Party (PDP) in Bayelsa State achieved a clean sweep in the local government election … Read more
BDCs will be getting the dollar from the CBN at the rate of N1,101/$. The CBN instructed them to sell dollars at a rate not exceeding 1.5% above the purchase price. That means BDCs are not expected to sell above N1,117/$1. Eko Hot Blog reports that bureau de change (BDC) operators have started buying foreign exchange … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has revoked the licences of 4,173 bureau de change (BDC) operators for failing to observe regulatory provisions. The apex bank disclosed the development in a statement signed by its acting director, corporate communications, Sidi Ali, on Friday. The CBN said the BDCs failed to … Read more
Eko Hot Blog reports that the Bureau De Change (BDC) on Saturday kicked as the Central Bank of Nigeria (CBN) announced the operational mechanism for its segment of the market to trade foreign currencies in the country. The Apex Bank had directed all BDCs operators in the country and the general public to trade foreign … Read more
EFCC has arrested a Kogi State House of Assembly candidate Ismaila Atumeyi, who allegedly stole N1.4bn from a bank. EKO HOT BLOG reports that operatives of the Economic and Financial Crimes Commission have arrested the Kogi State House of Assembly candidate of the New Nigeria Peoples Party, Ismaila Atumeyi, with N326 million and $140,500 cash. … Read more
Nigerian travellers and students abroad are stranded as banks adjust their forex sale policy due to dollar scarcity. EKO HOT BLOG reports that Nigerian travellers and students abroad are finding it increasingly difficult to access the United States dollar at the Central Bank of Nigeria’s official rate for eligible transactions. EDITOR’S PICK: Black Market … Read more
The Economic and Financial Crimes Commission (EFCC), on Friday, stormed a hub of bureau the change in Abuja. EKO HOT BLOG reports that operatives of the EFCC visited Wuse Zone 4, Abuja, home to most bureau de change operators in the Federal Capital Territory. EDITOR’S PICK APC 2023: Bola Tinubu Shortlists El-Rufai, Oshiomhole … Read more
Mompha is alleged to have used his registered companies to receive illicit funds on behalf of “yahoo yahoo” boys… EKO HOT BLOG reports that operatives of the Lagos Command of the Economic and Financial Crimes Commission (EFCC) have re-arrested a suspected internet fraudster, Ismailia Mustapha, for laundering funds obtained through unlawful activities and retention of … Read more
The naira exchanged to the dollar in the parallel market at ₦474/$ on Thursday. Ekohotblog gathered that naira to dollar was exchanged at 473/$1 on Monday. The naira which recorded slight improvement in recent days closed at the Importer & Exporter forex window at ₦394.6/$. Meanwhile, the Central Bank of Nigeria (CBN) retained the official … Read more
A former minister’s son is now in Police custody following his arrest for an alleged robbery attempt at an Abuja Bureau De Change. The suspect allegedly attacked the BDC last week. He is in detention pending the conclusion of investigation. The Nation gathered that the suspect’s father is a former Minister from Benue State. A … Read more
The Association of Bureau de Change Operators of Nigeria (ABCON) has condemned what it described as acts of mistrust, money laundering and other related crimes among its members. The President of ABCON, Aminu Gwadabe, gave the condemnation while speaking in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos. Mr Gwadabe … Read more