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Naira Continues Recovery, Strengthens To ₦‎950

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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.”

 

Naira Continues Recovery, Strengthens To ₦‎950

 

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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TYO National Competition Concludes with Exceptional Display of Oratory and Critical Thinking

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The TYO 2026 National Competition concluded with an impressive showcase of oratory, critical thinking, and a compelling demonstration of the skills developed by participants during a four-day intensive boot camp. The programme commenced on Monday, April 27, with semifinals held on April 29 and the finals on April 30, 2026.

The final event was marked by an emotional moment as the winner was announced to an enthusiastic reception from the audience. Participants were evaluated on key competencies including reasoning, content, structure, audibility, and audience engagement. The competition stood as a clear demonstration of what can be achieved when young minds are given the opportunity and space for intentional development.

TYO is a communications platform and an expression of the Peat Philips Foundation, committed to instilling leadership, communication, and public speaking skills in young people. The initiative focuses on building strong character and empowering participants to embody the change they seek, not only through words but through aligned actions.

The boot camp incorporated multiple dimensions of learning, including structure, intent, goal-setting, character development, reasoning and effective audience engagement. These components provided participants with the opportunity to refine their speaking abilities while unlearning habits that no longer serve their growth. The experience also fostered peer learning, as participants engaged closely with other qualified individuals within the programme.

Beyond the competition, TYO serves as a broader platform dedicated to developing young people into confident communicators and ambassadors of their communities and country. The competition itself is one of several initiatives aimed at preparing a Nigerian representative for the International Public Speaking Competition scheduled to take place in the United Kingdom in July this year.

Looking ahead, preparations are already underway for the 2027 edition of the TYO Boot Camp. The organisers express hope for continued and increased support from sponsors and partners to sustain and expand the programme. This support is essential to reaching more young people and strengthening a critical area of development, not only for Nigeria but for the African continent at large.

For partnership and sponsorship inquiries, interested parties are encouraged to connect with the organisers to support the mission of raising a generation equipped to serve and lead effectively. Contact: 08071825959, [email protected].

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Ajadi Visits Ilaji Resort, Commends Sanusi’s Vision for Oyo’s Economic Growth

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Ajadi Visits Ilaji Resort, Commends Sanusi’s Vision for Oyo’s Economic Growth

The leading gubernatorial aspirant in Oyo State under the Peoples Democratic Party (PDP), Olufemi Ajadi Oguntoyinbo, has lauded the transformative impact of private-sector investment on the state’s economy, following a courtesy visit to Ilaji Hotels and Sports Resort in Akanran, Ibadan.

Ajadi, who was warmly received on Sunday by the resort’s founder, Chief Dr Dotun Sanusi, described the facility as a symbol of what visionary leadership and indigenous enterprise can achieve in driving rural development, job creation, and tourism growth.

Speaking during the visit, Ajadi commended Sanusi’s commitment to Oyo State’s economic advancement, noting that Ilaji Resort stands as a model for sustainable development outside urban centres.

“What I have seen here today is not just a business venture, but a bold statement of belief in Oyo State’s potential,” Ajadi said. “Chief Sanusi has demonstrated that with vision, dedication, and strategic investment, we can transform our rural communities into thriving economic hubs. This aligns perfectly with my agenda to expand opportunities, empower our people, and sustain development across the state.”
[4/13, 6:34 PM] johnsonakinpelu: The PDP gubernatorial aspirant emphasised that his governorship ambition is rooted in supporting initiatives that promote local enterprise, tourism, and youth employment, adding that partnerships between government and private investors would be a priority if elected.

In his remarks, Sanusi, popularly known as Ilaji, expressed delight at hosting Ajadi and his entourage, describing the visit as encouraging for investors in the state.

“I am honoured to receive Ambassador Ajadi here at Ilaji Resort,” Sanusi said. “This project was born out of a desire to give back to society, create jobs for our youths, and showcase the rich cultural and tourism potential of Oyo State. When leaders recognise and support such efforts, it strengthens our resolve to do more.”

Sanusi further stressed the importance of continuity in governance and policies that encourage investment, noting that consistent support from government actors is crucial for long-term economic growth.

The visit also attracted notable political stakeholders, including the former Ona-Ara Local Government Chairman, Hon. Taiwo Oke, Hon. Bass Oloko, and Ajadi’s personal assistant, Kilamuwaye Badmus, among others.

Observers at the event described the meeting as a convergence of political leadership and entrepreneurial vision, highlighting the growing importance of collaboration in addressing developmental challenges in Oyo State.

Analysts see Ajadi’s visit to Ilaji Resort as part of his broader engagement with key stakeholders across sectors, as he continues to build momentum ahead of the 2027 governorship race.

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FOPCHEN Calls for Dialogue as Court Fixes May 28 for Continuation

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FOPCHEN Calls for Dialogue as Court Fixes May 28 for Continuation

OTA, OGUN STATE — Proceedings in a widely followed legal case resumed on March 24, 2026, at the High Court of Ogun State, Ota Division, ending with a fresh adjournment as the court fixed May 28, 2026, for continuation.

During the session, legal representatives for all parties restated their positions and addressed preliminary matters, laying the groundwork for more substantive arguments at the next hearing. Observers noted that the case continues to attract significant public attention due to its perceived implications for law, culture, and societal values.

The Foundation for the Protection of Cultural Heritage in Nigeria (FOPCHEN) used the occasion to reiterate its call for constructive national dialogue. The group emphasized that while the judicial process must be respected, broader societal engagement remains essential.

 

According to the organization, issues relating to values, responsibility, and cultural identity should not be confined solely to courtroom deliberations but should involve active participation from various sectors of society.
Legal analysts present at the proceedings described the matter as one with far-reaching implications, noting that arguments advanced in court could shape future interpretations surrounding sensitive cultural and moral questions.

 

The presiding judge subsequently adjourned the case to May 28, granting all parties time to refine their submissions and respond to issues raised during the hearing.

 

As anticipation builds ahead of the next court date, Nigerians across different sectors continue to monitor developments closely, keen to see how the judiciary navigates the delicate balance between constitutional rights and cultural expectations.

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