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BREAKING: CBN bows to pressure, resumes sale of dollars to BDC operators

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By Francesca Hamgeior

The Central Bank of Nigeria (CBN) has commenced the sale of dollars to Bureau De Change (BDC).

This was announced in a statement signed by Dr Hassan Mahmud, CBN’s Director of Trade & Exchange Department, on Tuesday, February 27.

The apex bank said $20,000 will be available to each eligible Bureau De Change (BDC) operator across the country.

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The amount, according to the apex bank, is to be sold to each BDC at the rate of N1,301 per dollar, representing the lower band rate of executed spot transactions at the Nigerian Autonomous Foreign Exchange Market (NAFEM) as of the previous trading day.

Mahmud said all BDCs are allowed to sell to end-users at a margin not more than one percent above the purchase rate from CBN.

The statement reads: “Following the ongoing reforms in the foreign exchange market, aimed at achieving an appropriate market-determined exchange rate for the Naira, the Central Bank of Nigeria (CBN) has observed the continued price distortions at the retail end of the market, which is feeding into the parallel market and further widening the exchange rate premium.

“To this end, the CBN has approved the sale of foreign exchange to eligible Bureau De Change (BDCs) to meet the demand for invisible transactions. The sum of $20,000 is to be sold to each BDC at the rate of N1,301/$- (representing the lower band rate of executed spot transactions at NAFEM for the previous trading day, as at today, 27th February 2024).

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“All BDCs are allowed to sell to end-users at a margin NOT MORE THAN one percent (1%) above the purchase rate from CBN.

“All eligible BDCs are directed to make the Naira payment to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentation, for disbursement at the appropriate CBN Branches ABUJA, AWKA, LAGOS and KANO).”

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Hartland Nigeria Completes 41 Projects, Reaffirms Commitment To Infrastructure Delivery

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● Construction firm says “reputation is built, not claimed” amid ongoing road, bridge works nationwide

ABUJA — Hartland Nigeria Limited says it has completed 41 major infrastructure projects across Nigeria, positioning the civil engineering firm as one of the country’s leading players in roads, bridges and critical public works delivery.

In a statement issued on September 3, 2026 and signed by Management, the company said its record was built on “technical competence, professional discipline, uncompromising quality, and integrity.”

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“In Nigerian construction, reputation is not claimed. It is built,” the company stated. “Each of those 41 projects represents more than concrete and asphalt. It represents a responsibility accepted. A contract executed. A commitment honoured.”

—TRACK RECORD ACROSS GOVERNMENT AND PRIVATE SECTOR—

Hartland said its clients have included Federal and State governments, international organisations and leading private entities. The firm noted it has invested heavily in personnel, equipment and systems to manage complex projects, with over 1,700 direct employees and several others engaged through contractual arrangements.

The company emphasised that it has “never abandoned a project entrusted to us.”

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Where contractual or financial challenges arose, it said it worked with clients and partners to find solutions and keep projects moving towards completion.

“We value the confidence and cooperation of those we work with and remain committed to the timely progress and completion of all our ongoing projects,” Management said.

—GUIDED BY PRINCIPLES—

According to the statement, Hartland’s operations have been guided by four core principles: Excellence in execution, Integrity in every dealing, Innovation in approach, and Respect for clients and host communities.

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“A contract is a commitment. Public infrastructure carries a public trust. And the strongest reputation is earned one project, one site, one delivery at a time,” the company said.

Management added that infrastructure delivered by Hartland is intended to “connect communities, enable commerce, and support a stronger Nigerian economy.”

—“FULLY COMMITTED” TO ONGOING PROJECTS—

Looking ahead, Hartland said its record of 41 completed projects deepens its sense of responsibility for current assignments.

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The firm affirmed it has the experience, technical capacity, professional personnel and organisational discipline to meet all contractual obligations.

“Hartland Nigeria Limited remains fully committed to delivering all current projects in line with the specifications, timelines, and standards of our contracts,” the statement read.

It concluded: “We remain committed to our clients. We remain committed to the communities our projects serve. We remain committed to building the infrastructure that powers Nigeria’s growth. Because this is who we are.”

Hartland Nigeria Limited started as Hartland Enterprises and now operates as a leading civil engineering and construction company focused on roads, bridges and other critical infrastructure.

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Three casualties, 20 injured in Osun auto crash

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Three lives were lost in an auto crash that occurred on Saturday along the Ife-Ilesa Expressway in Osun State, while about 20 people were injured in the crash.

The Osun Sector Commander of the Federal Road Safety Corps, Sunday Adebayo, who confirmed the casualty figure during a telephone interview, said the two vehicles involved had a head-on collision.

Adebayo, who said the FRSC team arrived at the scene of the crash about five minutes after it occurred in the Tonkere area, blamed speeding and dangerous driving for the accident.

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The Osun FRSC boss further disclosed that the two vehicles involved in the accident had been taken to the nearest police division to the scene of the accident, adding that the remains of the deceased were deposited at the morgue of Wesley Guild Hospital in Ilesa.

He also said the 20 injured commuters were taken to the Obafemi Awolowo University Teaching Hospital, Ile-Ife, and Seventh Day Adventist Hospital, also located in Ife, for medical attention.

Giving other facts about the accident, Adebayo said, “Three people died. Altogether, we have about 20 others who were injured in the crash.

“The deceased were two females and one male. We have 11 females in that vehicle and nine other males. Three children: two males, one female. All the other 20 sustained different degrees of injury.

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It was a head-on collusion involving a Toyota Hiace and a car. The incident happened around Tonkere between Ife and Ilesha. We mobilised our patrol vehicles from Ilesha and Ife for the rescue operation.

“Some of the survivors sustained minor injuries and were discharged. The vehicles have been moved to the police station in Ife, and the road has been cleared for movement. The response time from FRSC was five minutes. Our boys got to that place through one of the members of the public, and they quickly moved on because we were already on the road by the time the incident happened.”

Advising the road users against acts that can lead to accidents, Adebayo urged drivers not to engage in acts that would lead to avoidable loss of lives.

“If you look at the road structure at the time of the occurrence, you see that there is no reason for that high fatality. Nigerians need to change their attitudes on the road. Excessive speeding is killing. The accident happened due to over-speeding and dangerous driving

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“There was no need for such an accident on the road if Nigerians can change their attitude. But we will continue to tell road users that they should change their attitude to the way they usually speed on the road,” the Sector Commander said.

He continued, “If you go at a lower speed, if you have cause to be involved in a crash, the fatality will not be as much as what we saw this morning. Nigerians should respect other road users.

“They should have this shared responsibility that everybody has a right to use the road. The person who is safe on arrival is the person who knows how to drive.”

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Total darkness looming from today as parts of Abuja undergo maintenance -TCN

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TOTAL darkness looming as several parts of Abuja will experience a temporary power outage on Sunday, September 6, 2026, as the Transmission Company of Nigeria (TCN) carries out scheduled maintenance at the 132kV Apo Transmission Substation.

TCN announced the planned outage in a statement shared on X on Saturday, saying the maintenance would take place between 9:00am and 5:00pm.

According to the transmission company, the exercise will involve the stringing and latching of Optical Ground Wire (OPGW) on the two 132kV Katampe–Apo Transmission Lines, Lines 1 and 2, between towers T130 and T132.

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TCN said the maintenance would temporarily affect electricity supply to residents and businesses in Lugbe, Garki, Area 1, National Hospital, Guzape, Asokoro and surrounding areas.

The company explained that the Abuja Electricity Distribution Company (AEDC) would be unable to off-take electricity for distribution to customers in the affected areas during the exercise.

“Consequently, the Abuja Electricity Distribution Company (AEDC) will be unable to off-take electricity for supply to customers in Lugbe, Garki, Area 1, National Hospital, Guzape, Asokoro, and surrounding areas during the exercise,” TCN said.

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