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Dollar to Naira exchange rate today, December 9, 2025

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The Nigerian Naira has maintained a relatively stable position against the US Dollar in both the official and parallel markets as trading opens today, Tuesday, December 9, 2025.....TAP TO CONTINUE READING

Market data indicates a continued convergence between the official Nigerian Foreign Exchange Market (NFEM) rates and the street markets, driven by recent monetary policy shifts and improved foreign exchange liquidity.

Official NAFEM Rates

In the official market, the Naira is currently trading at an average of ₦1,450.92 to the dollar, according to data from the FMDQ and major trading platforms like Xe. This represents a period of sustained stability for the local currency, which has hovered between the ₦1,450 and ₦1,460 band in recent weeks.

Market analysts attribute this stability to increased foreign inflows and the impact of the US Federal Reserve’s recent interest rate adjustments. The dovish stance taken by the Fed in late 2025 has softened the greenback globally, allowing emerging market currencies like the Naira to regain some ground.

Parallel Market Rates

On the parallel market, often referred to as the black market, the exchange rate has shown a similar trend of moderation. Currency dealers in Lagos and Abuja are exchanging the dollar at a selling rate of approximately ₦1,490 and a buying rate of ₦1,475 today.

Data from Aboki Forex and other street tracking platforms confirms that the gap between the official and parallel market rates has narrowed significantly compared to previous years, now standing at a margin of roughly ₦40. This reduced disparity is often cited by economists as a sign of improved market efficiency and reduced arbitrage opportunities.

Market Outlook

Financial experts point to the Central Bank of Nigeria’s persistent reforms and the recent accumulation of foreign reserves as key factors supporting the Naira’s value. Additionally, the expectations of further rate cuts by the US Federal Reserve later this month are bolstering investor confidence in Nigerian assets, keeping the exchange rate volatility in check as the year draws to a close.

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BREAKING NEWS: Newly Elected President of AGN, Abubakar Yakubu Arrested in Lagos – FULL DETAILS

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The newly elected President of the Actors Guild of Nigeria (AGN), Abubakar Yakubu, who won the election by a narrow margin of 116 votes to 113 against Rita Daniels, with three votes declared invalid, has reportedly been involved in a fatal motor accident in Surulere, Lagos.....TAP TO CONTINUE READING

Preliminary reports indicate that the crash resulted in the death of an individual.

Yakubu has been taken into police custody at the Barracks Police Station in Surulere, where investigations into the circumstances surrounding the accident are ongoing.

Authorities are yet to issue an official statement on the cause of the crash or the progress of the investigation.

Further details will follow as the news develops…

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Why Gov Fubara Joined APC Before Nyesom Wike

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Governor Siminalayi Fubara of Rivers State officially defected from the Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC) on Tuesday, a strategic move reportedly executed to pre-empt his estranged predecessor, Nyesom Wike, and take control of the APC structure in the oil-rich state.....TAP TO CONTINUE READING

The defection, which Fubara lannounced at a stakeholders’ meeting in Port Harcourt, was confirmed to be a calculated political maneuver following his closed-door meeting with President Bola Tinubu in Abuja on Monday.

Governor Fubara, while announcing his defection, publicly acknowledged President Tinubu’s intervention as the sole reason he survived the political turmoil, which saw his government briefly suspended.

He said: “I know you have been waiting to hear from me. I have to arrange this meeting so urgently. I know it will end on a good note

“You are aware that I went to see Mr President yesterday, and the reason I went for that visit is not just personal, but a state interest consultation.

“I don’t want to make any mistakes this time around. I also don’t want to step on any landmine that anyone is laying for us. So I was with Mr President yesterday to brief him on the situation of things in our state, which I believe he has taken note of, and he is going to act swiftly on it.

“The most interesting part of the meeting is what you all have been waiting for, and you have been asking me, the signal has finally arrived.

“We have the full support and the positive nod to leave where we are because we didn’t get any protection, to go to where the reason we are still standing is because of that place.

“The truth is, without Mr. President, there won’t be any His Excellency Sir Siminalayi Fubara; it would have been the former governor.

“So, we have every reason. Let no one be fooled in this State, we have the people and the supporters as well as the numbers. Our only thank you to Mr. President is to support him. We can’t support Mr. President in isolation, and we can’t show that support if we don’t fully identify with him, not backyard support.

“So, we have taken that decision today, since we have got the pass. Everyone here who has followed and suffered with me, our decision today, we are all moving to APC.“

Sources in Governor Fubara’s camp revealed to The Whistler that the defection was based on counsel from political strategists who urged him to join the APC before Wike, despite the FCT Minister’s alignment with the federal ruling party.

The main objective was to secure control of the APC’s political structure in Rivers State ahead of the 2027 general elections.

The strategy banked on Wike’s ongoing internal battles within the PDP, which reportedly led to him being isolated and without access to President Bola Tinubu for the last two months.

The source said Fubara was initially reluctant to make the move, concerned that it would be viewed as disrespectful to Wike and re-ignite the crisis that had just been resolved.

“The governor was reluctant at first. He felt it would be disrespectful to join the APC before his former boss and political benefactor. He was also concerned about reigniting the crisis that had just been resolved. He didn’t want to be seen as betraying Wike or repeating the same pattern that caused their problems in the first place,” the source told The Whistler.

The source explained: “Governor Fubara agreed with the calculation to join the APC first. They (his advisers) convinced him that this was the best way to secure his political future.”

Fubara’s camp asserts that his supporters and loyalists across the state are expected to follow his lead, effectively positioning him as the new leader of the APC in Rivers State.

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3 Person’s Dead, Several Injured As Vehicles Collide On Lagos-Ibadan Expressway

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The incident occurred on the Lagos-Ibadan Expressway, near Secretariat heading towards Otedola Bridge.....TAP TO CONTINUE READING

A fatal accident on the Lagos-Ibadan Expressway has claimed three lives, injuring several others.

Confirming the accident in a post on X on Wednesday, the Lagos State Traffic Management Authority (LASTMA) said three vehicles were involved in a collision.

It said the incident occurred on the Lagos-Ibadan Expressway, near Secretariat heading towards Otedola Bridge.

“Three vehicles were involved in the collision, resulting in three fatalities and several serious injuries,” the post read.

LASTMA stated that emergency officials were on ground to assist the victims of the accident.

“LASAMBUS personnel are on the scene, providing medical attention to the injured victims.

“LASTMA and Nigerian Police Force personnel are also present, actively managing the situation and maintaining order.

“Efforts are underway to clear the scene and restore normal traffic flow. Motorists are advised to exercise caution when approaching the area.”

It was gathered that a car, heading towards Berger on the Otedola Bridge, collided with a truck near the Secretariat.

“According to preliminary observation, the collision occurred when the Audi with the plate number (YAB742CN) ran into the slowly moving truck.

“The impact resulted in significant damage to the car. The impact was severe enough to cause extensive deformation to the car. Due to the magnitude of the damage. The car is classified as a total write-off. While the truck driver took off.”

See more photos below:

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