You may be asking? How much is the US Dollar to Naira Black Market today?

Dollar To Naira Black Market Exchange Rate Today Saturday 2nd September, 2023

On Friday September 1, 2023, The US dollar was trading at the rate of N915/$1 on Friday, representing 0.54 per cent appreciation compared to N920 it traded on Thursday, according to data from Abokifx and other Bureau De Change operators trading in the street areas. This implies that 1 US dollar was bought for N910/$1 at the black market and sold to willing buyers at N915/$. The naira appreciation was attributed to a moderation in demand for dollars.

READ MORE: https://skytrendnews.com/dollar-to-naira-black-market-exchange-rate-today/

VERY SERIAL news platform has obtained the exchange rate of the dollar to naira black market today, August 27th, 2023 in Nigeria, including the official CBN rate.

As of Saturday August 26th, 2023, the dollar to naira exchange rate is 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the greenback is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.

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https://www.veryserial.com/dollar-to-naira-black-market-exchange-rate/

VERY SERIAL news platform has obtained the exchange rate of the dollar to naira black market today, August 25th, 2023 in Nigeria. This includes the black market rates obtained from Bureau De Change (BDC) operators in Lagos and Abuja and the CBN rate.

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N900 and sell at N920 on Thursday, 24th August 2023, according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators.

How much is dollar to naira today in black market August 25th, 2023?

The naira on Thursday, 24th August, 2023 crashed in value by 4.54 per cent against the United States dollar at the black market to trade at N920/$ as against N880/$ it traded on Wedneday. This is according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators in Lagos and Abuja and from other media sources. This means 1 USD is purchased at N900 at the black market and sold at N920, resulting to a profit of N20 per dollar.

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 900
Selling Rate 920

SOURCE: https://www.veryserial.com/dollar-to-naira-black-market-exchange-rate/

The Central Bank of Nigeria says it is set to take new far reaching economic policy measures to curb the naira free fall and stabilise the currency exchange rate against the dollar.

Acting Governor of the CBN, Folasodun Sonubi, made the statement in a press interview to State House Correspondents after briefing President Bola Tinubu on what the bank was doing to stop the persistent depreciation of the naira on Monday at the State House.

Folasodun Sonubi says President Tinubu expressed his concern about the impact of recent developments in the foreign exchange market, particularly on ordinary citizens.

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https://www.veryserial.com/central-bank-of-nigeria-curb-naira-free-fall/

The Overseer of the Citadel Global Community Church, Pastor Tunde Bakare, says it is clear President Bola Tinubu has decided to impose hardship on Nigerians through his policy reforms but have ignored the subsidy thieves, government officials and corrupts powerful individuals who plunged Nigeria into mass suffering and economic deprivation.

Bakare, a former presidential aspirant of the All Progressive Congress (APC) made the revelation on Sunday during a press conference at his church in Lagos.

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https://www.veryserial.com/tinubu-hardship-nigerians-ignoring-subsidy-thieves/

The Nigerian naira continues to exchange at N950 to one US Dollar after its freefall and continued depreciation in the parallel market, otherwise called black markey in the last few days of the past week.

On Friday it closed at N950 to a dollar, after weakening by a whopping N50 than the N900 it closed on Wdnesday and Thursday.

The figure represents a N50 or 5.55 percent depreciation compared to the N900 it traded in the first week days of the last week. Bureaux De Change (BDC) operators in Lagos and across Nigeria claim there is high demand for foreign currency in the street market.

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https://www.veryserial.com/naira-n950-to-us-dollar-losing-n50/

Economists have outlined several strategies to counter the depreciation of the Nigerian naira and address the scarcity of US dollars. One key recommendation is to secure balance of payment facilities from multilateral institutions, which could inject foreign currency into the economy. Another crucial step is to enhance the export of goods and services to increase dollar inflow.

The naira has faced a significant decline, losing approximately 25.65% and 65.65% of its value against the dollar within two months in both the parallel market and the official market, respectively. The liberalization of the foreign exchange market has contributed to this decline.

READ ON: https://www.veryserial.com/economists-propose-strategies-to-increase-dollar-inflow/

Fupay stands out as a novel addition to Australia’s Buy Now, Pay Later (BNPL) applications, distinguishing itself with a broader purpose. Its compelling tagline, “empower your lifestyle while maintaining control,” underscores a philosophy that empowers patrons to manage their expenditures judiciously, factoring in the impact of each transaction on their financial flow and future aspirations.

The platform operates as a steadfast ally to Australian workers who meet its stringent loan criteria. By offering a “spotting” mechanism, Fupay ensures timely rent payments and prevents individuals from slipping into arrears. To access this aid, customers need to link their bank account details. This link enables Fupay to assess eligibility and ascertain if the loan aligns with their financial capacity.

What is Fupay?
Fupay is a mobile application that offers Buy Now, Pay Later (BNPL) services to its customers, going beyond the conventional realm of transactions by presenting users with a holistic financial management solution. By integrating users’ bank account data, Fupay Australia offers a comprehensive overview of customer financial landscape, analyzing income, invoices, and historical transactions to predict future expenses, set savings goals, and meticulously monitor spending habits.

The app boasts three distinctive BNPL features: Fu Card, Fu Cash, and Fu Bills. Fu Card, a digital card, can be preloaded with a customizable amount ranging from $20 to $500, enabling flexible spending across diverse outlets. Fu Cash allows users to store up to $200, affording them versatile spending options. Meanwhile, Fu Bills extends its scope to cover bills up to $500 using the convenience of BPAY, further enhancing financial freedom.

READ MORE: https://www.veryserial.com/fupay-app-review-australia/

UPDATED: Nigerian Senators Illegally Shared N228m, N3m for each 10 Principal Officers and N2m for 99 Floor Members

Exclusive report just reaching VERY SERIAL indicates that the 10 Principal Officers of the Nigerian Senate actually received N3million each while the 99 other floor members received N2million each as ‘vacation allowance’, bringing the total disbursement to N228million and not N218million as was earlier reported.

The President of the Nigerian Senate, Mr Godswill Akpabio publicly announced on the floor of their chamber on Monday that a particular amount of money had been sent to their accounts to enjoy their vacation.

According to Premium Times, each floor member senator received a minimum of N2 million as “vacation allowance” before proceeding on seven weeks of vacation. However the 10 principal officers of the Senate received N3million each, according to exclusive report obtained by VERY SERIAL. A senator confided to the online Newspaper that all the 109 senators in the upper chamber were paid the allowance for the vacation, which commenced on Monday and ends on 26 September.

read on
https://www.veryserial.com/nigeria-lawmakers-shared-n228m-vacation-allowance/

Today I will be taking you through the top 10 best accounting software for small businesses in Nigeria in 2023. Accounting Software has become one of the most important emerging issues in accounting and financial processes development in 2023.

According to a recent report by Cloud Accounting Platform – Xero™ titled “Make or Break? An investigation into what separates successful entrepreneurs from those who fail”, 14% of small businesses who did not use software to manage their finances failed.

Also online accounting platform, Sage One, has hinged the high rate of failure of small businesses especially before the second year of startup, on poor book-keeping as well as inadequate researches and lack of insight by business owners.

With the advent of computer and digital technology, businesses do no longer have to burden themselves or their accountants with endless manual systems of recording their daily financial operations.

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https://www.veryserial.com/accounting-software-for-small-businesses-in-nigeria/

A lot of people have asked, and still asking: “Can loan apps access my contacts after uninstalling?”

The response to this question will be based on a further breakdown on the stages the question relates to. Is it before you download the loan app, or after you have downloaded the app on your phone and received a loan from them or after you have deleted and uninstalled the loan app (whether you collected a loan or not?

I have personally received many messages and questions both online and offline many of them asking: Can Loan Apps Access My Contacts After Uninstalling? After doing an extensive research and reading across board, I have therefore decided to address this question deeply and answer all the ensuing queries from many customers and readers. Read on.

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https://skytrendnews.com/2022/12/05/can-loan-apps-access-my-contacts-after-uninstalling/

A lot of people have asked, and still asking if it is possible for someone or a customer or borrower to stop loan apps from accessing your phone contacts after you have already downloaded their app and patronized their services? And then you later uninstalled the app.

I have personally received many messages and questions both online and offline many of them asking: How Can You Stop Loan Apps From Accessing Your Phone Contacts? After doing an extensive research and reading across board, I have therefore decided to address this question in this essay. Read on.

To stop loan apps from accessing your phone contacts again, safely uninstall the app and do not patronize them anymore. However your previous contacts remain in their database if you ever collected a loan from them.

The ability of securing instant credit within minutes just after a few clicks on a loan app or a digital lending platform, and particularly without collateral or any form of documentation made these  lending apps and online banks a darling of many people. It's a not just a great excitement but a revolutionary innovation to know that you can access instant cash of say N50,000 or N100,000 at the corner of your room within a few clicks on your mobile phone without visiting any bank and without any physical correspondence.

READ ON:
https://skytrendnews.com/2022/12/05/how-to-stop-loan-apps-from-accessing-your-phone-contacts/

Loan shark harassment in Nigeria have become a predominant topic of discussion especially after the ugly Covid 19 pandemic crisis that shook the entire globe and threw millions of people into the jobless circle with the resultant effect of many being unable to cater for their immediate needs.

Evolution Of Loan Apps And Loan Shark Harassment In Nigeria
Many families have consequently resorted to patronising loan apps for quick emergency funds or payday cash advance loans in order to meet urgent needs. Many of the loan apps advertising their wares as yrgent online cash without the need of collateral, documentation or physical presence in their office to get a loan, have gotten many borrowers trapped, being unaware that they were dealing with “potential loan shark harassment in Nigeria” many of whom would later come out to exose their true pictures.

Loan shark harassment in Nigeria is further made possible due to the largely unregulated digital lending industry in the country, no thanks to the Central Bank of Nigeria (CBN), and other financial regulatory authorities who have largely failed in their constitutional roles to protect borrowers from these dare devil loan sharks, pretending to be legitimate loan app, who daily harass their victims, and compromise their data privacy which they swore to protect.

The recent clampdown by regulators and law enforcement agencies on the activities of illegal online loan sharks operations points to the deteriorating economic situation in Nigeria. Tellingly, it reiterates the weakness of the Central Bank of Nigeria in asserting its writ as the highest financial sector regulatory agency in charge of the monetary flow and lending in the country. Also in focus is the regulatory efficiency of the Corporate Affairs Commission, the National Information Technology Development Agency, the Independent Corrupt Practices and Other Related Offences Commission, and the Ministry of Communications and Digital Economy.

In March, the Vice-Chairman of the Joint Task Force of the Federal Competition and Consumer Protection Council, Babatunde Irukera, said the commission had frozen no fewer than 30 bank accounts operated by illegal loan organisations. (These are Irukera said that the commission had engaged Google and Apple Store to take down some loan applications from their sites, noting, however, that there were certain processes required for that to happen. And to avoid and limit the unintended consequences of the clampdown on legal lenders, he said that the commission engaged three major loan companies whose businesses had been adversely affected by the commission’s raid.

READ MORE: https://skytrendnews.com/2022/10/27/how-to-fight-stop-loan-shark-harassment/