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BREAKING: Abuja black market traders close shops and Abruptly Stops Trading Today.
In a surprising move, foreign exchange black market operators in Abuja, including those at the bustling Wuse Zone 4 market, abruptly stopped trading on Thursday morning.
They attributed their decision to instructions from their union and a significant depreciation of the Naira against the US dollar at the official market.
None of the traders approached was willing to exchange foreign currency.
Initially, they cited directives from the Association of Bureau De Change Operators of Nigeria (ABCON) to refrain from selling.
However, further inquiries revealed it was due to the narrowing gap between the official and black market exchange rates.
“The Naira just de go up,” explained one trader, requesting anonymity. “The official rate has fallen so much that it’s almost the same as what we offer here. There’s no profit in selling dollars anymore.”
The official CBN rate on its website closed on the last day of January at N1,356.883/$1 but the other official rate closed at N1,455.59 while the black market rate closed N1,450/$1.
This narrowing gap, driven by various economic factors, has significantly reduced the potential profit margin for black market operators, rendering their activities less lucrative.
While access to official channels for FX remains limited for many Nigerians, the black market has historically served as an alternative source, albeit at a premium.
Their sudden shutdown could create challenges for individuals and businesses reliant on these unofficial channels.
However, the development could also be seen as a positive sign for the CBN’s recent efforts to stabilise the foreign exchange market.
The narrowing gap between official and black market rates suggests increased confidence in the official market, potentially reducing demand for alternative channels.
The situation is fluid and could evolve rapidly. The CBN and ABCON are yet to issue official statements and the long-term impact of the traders’ closure remains unclear.
Nigeria’s D’Tigress have once again etched their name into the history books, emerging as champions of the 2025 FIBA Women’s Afrobasket in Côte d’Ivoire after a commanding 78-64 victory over Mali in Sunday’s final.
Led by head coach Rena Wakama, the Nigerian side delivered a stellar performance at the Palais des Sports de Treichville in Abidjan to secure their fifth straight continental crown — a feat no other nation has achieved in the tournament’s history.
The win also guarantees D’Tigress an automatic berth at the 2026 FIBA Women’s World Cup in Berlin, Germany.
Having edged past a tough Senegalese team in a dramatic semi-final, where they rallied in the fourth quarter to secure a hard-fought win, D’Tigress showed a different level of composure and dominance in the final against Mali.
Mali came out strong, finishing the first quarter with a 26-21 lead. But Nigeria responded swiftly, leveling the game 41-41 by halftime.
The third quarter saw D’Tigress turn on the style, as they pulled ahead 61-56. By the final quarter, the Nigerian side tightened their defense and restricted Mali to just eight points, cruising to a 14-point triumph.
With this latest victory, Nigeria has now lifted the Women’s Afrobasket trophy seven times in total — 2003, 2005, 2017, 2019, 2021, 2023, and 2025 — and remain unbeaten in the competition for a decade. The team’s last loss in the tournament dates back to October 2, 2015, against hosts Cameroon.
This fifth consecutive title reaffirms D’Tigress’ status as the undisputed queens of African women’s basketball.
President Bola Tinubu has bestowed the national honour of Officer of the Order of the Niger, on the Super Falcons and the entire technical crew.
He also allocated three-bedroom apartments in Abuja to each of the players and the technical crew at the Renewed Hope Estate.
The President also directed the cash award of the naira equivalent of $100,000 each of the 24 players and $50,000 to each of the 11-man technical crew.
This came during a reception in honour of the players and the coaching crew at the Presidential Villa, Abuja.
He said, “I hereby conferred on the players, the 11 man technical team with national honours of the Officer of the Order of the Niger.
“Additionally, I have I directed the allocation of three bedroom apartments in the Renewed Hope Housing Scheme.
“Then there is the cash award of the naira equivalent of $100,000 US dollars each 24 players and the naira equivalent of $50,000 to the 11-man technical crew.”
The President also said he didn’t want to watch the WAFCON final because he didn’t want to have high blood pressure.
Earlier, the President and the First Lady, Senator Oluremi Tinubu, received the Super Falcons at the Presidential Villa on Monday, following their record victory at the 2025 Women’s Africa Cup of Nations in Morocco on Saturday.
The coaster buses conveying the players and coaching crew arrived at the forecourt of the Aso Rock shortly before 04:36 p.m. local time.
The Super Falcons, 10-time African champions after their 3-2 comeback over the Atlas Lionesses Morocco, were received by the President’s Chief of Staff, Femi Gbajabiamila, upon their arrival.
In a post-match video call on Saturday night, President Tinubu praised captain and tournament MVP Rasheedat Ajibade.
He also praised Nigeria’s rally from a 2-0 half-time deficit to claim the WAFCON title.
Over the past decade, the Super Falcons have won four Women’s Africa Cup of Nations titles in 2014, 2016, 2018, and 2024, bringing their total to 10
The Super Falcons emerged champions of the 2024 Women’s Africa Cup of Nations (WAFCON) after pulling off a stunning second-half comeback to defeat hosts Morocco in a pulsating final.
The Moroccans had taken a 2-0 lead in the first half, capitalizing on early momentum and a roaring home crowd at the Prince Moulay Abdellah Stadium in Rabat.
But the Nigerians, showing the grit and pedigree that has made them the most successful team in the tournament’s history, roared back after the break.
WAFCON final: Oramah FC chairman pledges ₦500,000 per goal to Super Falcons
First Lady rallies Super Falcons to victory in WAFCON final
A spirited second-half display saw the Super Falcons flip the script in dramatic fashion, scoring twice to silence the home fans and reclaim the continental crown.
With this victory, Nigeria completes the 10th WAFCON title
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