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Naira Continues Recovery, Strengthens To ₦950
Naira Continues Recovery, Strengthens To ₦950
The naira continued its rebound against the dollar on Friday, strengthening to N950/$ on the average in the parallel market.
This represents an N170 gain or a 15.18 percent appreciation of the local currency compared to the N1,120 it traded for on Thursday. This is also the second day of recovery for the naira following a move by the Central Bank of Nigeria to clear some of its FX backlog on Thursday.
According to Bureaux De Change operators, who spoke to The PUNCH, the naira is still gaining as the market reacts positively to the CBN’s move.
A trader who only gave his name as Awolu said, “The dollar is N950 today if you want to buy it.”
Kadri, another trader, stated that he currently buys at N900/$ but sells at N950. He declared, “Dollar is coming down. It is N900 if you want to sell. But is N950 if you want to buy.”
Taura, another currency trader, stated that the naira was N1,015/$ in his area. He told The PUNCH, “If you want to sell, it is N980. But if you want to buy it is N1,015.”
Naira weakens to 1,180/$ after recent gains
Muhammad, added, “The naira is falling drastically. It is still failing. It is N970 now. The difference between buying and selling is N10.”
The President of the Association of Bureaux De Change Operators of Nigeria, Aminu Gwadabe, affirmed to The PUNCH on Thursday that the CBN’s move to clear some of its backlog has been responsible for the firming of the naira.
He said, “Yes, this is because of the CBN’s move to clear its backlogs. There is a kind signal in the market. The CBN should continue to make clarifications.”
On Thursday, The PUNCH reported that the apex bank of the country had commenced the payment of outstanding matured FX forwards owed to various creditors.
Unconfirmed sources noted that three banks, namely Citi Bank, Stanbic IBTC, and Standard Chartered Bank, received full payment of debts owed from the CBN.
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Meet Alhaji Ismail Adebayo Yisa, A Visionary Leader Committed to Philanthropy and Empowerment
Meet Alhaji Ismail Adebayo Yisa, A Visionary Leader Committed to Philanthropy and Empowerment
By Solanke Ayomideji Taiwo
Alhaji Ismail Adebayo Yisa stands as a beacon of hope and inspiration in the community of Abeokuta, Ogun State. As the Chief Executive Officer of 99 Cristal Lounge and Hotel International, he has transformed the hospitality landscape while simultaneously dedicating himself to uplifting the younger generation through a multitude of philanthropic initiatives.
He is the principal of the Omo-Ade Foundation, a charitable organization rooted in the mission of giving back to the community and fostering positive change. Under his leadership, the foundation has made significant strides in addressing the needs of the less fortunate. Notably, in July 2025, the Omo-Ade Foundation provided essential food and cash empowerment support to over 500 residents of Abeokuta North Local Government Area, illustrating his unwavering commitment to community welfare and development.
Alhaji Yisa is renowned for his warm-hearted nature and deep compassion, often described as having a heart of “gold.” His relentless dedication to philanthropy is a testament to his belief in the power of community and the importance of nurturing the potential of the younger generation.
His exemplary contributions have not gone unnoticed; Alhaji Yisa is a multiple award winner, recognized both in political circles and the educational sector for his outstanding service and commitment to the betterment of society. Through his work, he continues to inspire others to join the cause of social responsibility and community enhancement.
Through his leadership at 99 Cristal Lounge and Hotel International and the impactful initiatives of the Omo-Ade Foundation, Alhaji Ismail Adebayo Yisa is not only building a successful business but also shaping a brighter future for the youth and less privileged in Abeokuta North and beyond. His journey is a powerful reminder of the change one can effect through compassion, dedication, and selfless service.
Dangote Truck not responsible for Auchi Accident, says Eyewitness.
The Dangote Cement truck did not cause the tragic accident, which occurred on the Auchi-Okpella-Okene road, near Omega Fire Ministry in Auchi, Etsako West Local Government Area of Edo State, contrary to online reports.
An eyewitness, Audu Omale, who gave a vivid account of the accident, recalled that “a third-party truck loaded with cement was moving in the opposite direction of the Dangote Cement (DCT) CNG truck on a slopy road. The commercial truck driver lost control of his truck due to a suspected brake failure, ran into a moving vehicle, a motorcycle, and eventually crashed into the side of the DCT truck. The DCT CNG truck caught fire in the process.
“Consequently, three persons from the vehicle hit by the third-party truck lost their lives, while two persons sustained varying degrees of injuries and were rushed to a nearby hospital for treatment. The DCT truck driver escaped to avoid a mob attack,” Omale clarified.
In a related development, the Police Public Relations Officer (PPRO) of the Edo State Police Command, CSP Moses Yamu, confirmed that the accident involved two trucks, one belonging to Dangote Cement, another truck, which has not been identified, and a GLK Mercedes-Benz car.
The Edo PPRO noted that all three occupants in the GLK were confirmed dead in the hospital, while the Dangote truck caught ffirewhich was brought under control.
“I can confirm to you that three vehicles were involved in an accident in Auchi at midday: two trucks and one GLK Benz. The police moved to the scene of the accident and evacuated three occupants of the GLK to the hospital, where they were confirmed dead.
“Two of the vehicles involved were trucks, one belonging to Dangote Cement and another unidentified one. The Dangote truck caught fire and was brought under control,” Yamu stated. He added that the investigation was ongoing.
LOGS INVESTMENT JOINS FORCES WITH MC RICHMAN TO BRING “SOUTH AFRICA LAUGHS” TO LIFE
Chief John Eriourolo aka Ogba Johnilla
CEO, LOGS INVESTMENT
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