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Naira slumps in parallel market
The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.
According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.
The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.
As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.
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Ex SGF Babachir reveals what Buhari told him about Tinubu before his demise
Former Secretary to the Government of the Federation, Babachir Lawal has shared details of a private conversation he had with late President Muhammadu Buhari about his political ties and disagreements involving President Bola Ahmed Tinubu.
Recall that Lawal spoke in an interview on Channels Television, where he said the conversation happened shortly before Buhari’s death.
He explained that Buhari warned him about possible political disagreements that could come up between him and Tinubu in the future.
According to him, the late president said such situations were likely but should be handled carefully.
He said Buhari advised that any clash in political views should remain focused on governance and public issues.
The former president, he added, made it clear that personal attacks should be avoided, and discussions should remain centered on national matters rather than personal matters.
Lawal said he accepted the advice and made a promise to follow it. He explained that since then, he has tried to keep his public comments about Tinubu within political issues only, without bringing in personal matters.
He added that Buhari told him he might end up in political disagreement with someone he considered a friend, but he should avoid turning it into something personal. Lawal said he agreed to that guidance at the time and has tried to respect it in his political activities.
Quoting his exchange with Buhari, Lawal said the late president told him, “You are going to fight your friend politically; please promise me you will not go personal with your fight.”
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BREAKING! APC 2027: ‘Consensus Ticket Requires Consent of All Aspirants’ Says National Chair
The National Chairman of the All Progressives Congress (APC) has stated that the party can only adopt a consensus candidate where all aspirants voluntarily agree to the arrangement.
Speaking on the party’s nomination process, the chairman emphasized that consensus candidacy is not imposed but must be the product of mutual consent among all contenders seeking the ticket.
In a statement, the chairman clarified that any consensus candidate must have backing of all the contenders.
— Prof. Nentawe
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NCC, CBN sign pact to strengthen consumer protection, curb fraud
The Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding to boost consumer protection.
NCC spokesperson, Nnenna Ukoha, disclosed this in a statement on Monday in Abuja.
She said the agreement would also combat fraud across telecommunications and financial sectors.
Ukoha said the MoU was formalised alongside inauguration of joint committees on payment systems, consumer protection, and the Telecoms Identity Risk Management System portal.
NCC Executive Vice Chairman, Aminu Maida, said the pact provided a framework for collaboration on payment integrity, fraud mitigation, digital inclusion, and consumer protection.
He said the initiative would deliver outcomes that strengthen trust, deepen inclusion, and support a secure digital economy.
Maida described the signing as a milestone, reflecting both institutions’ commitment to financial stability and consumer protection in an interconnected ecosystem.
“The Commission places significant importance on collaboration. Many milestones in addressing industry challenges came through strategic partnerships,” he said.
He recalled NCC and CBN intervention in resolving the USSD debt impasse, restoring confidence among consumers, telecom operators, and financial institutions.
According to him, the MoU will promote secure digital payments and expand access to underserved populations and small businesses.
Maida said the TIRMS portal would help curb electronic fraud by offering real-time insights into phone number status.
“This includes whether a line is active, swapped, disconnected, reassigned, or flagged for suspicious activity.
“This will significantly improve financial institutions’ ability to combat phone-linked fraud,” he said.
He said the collaboration would also ensure prompt resolution of consumer complaints, including failed airtime recharges.
CBN Governor, Olayemi Cardoso, said the MoU would improve coordination on approvals, standards, and innovation, including sandbox testing.
Cardoso reaffirmed the bank’s commitment to building a safer, more resilient, and inclusive digital financial system.
“Going forward, the Central Bank remains committed to working with the Commission to protect consumers and strengthen trust in the digital economy,” he said.
He inaugurated the joint committees, noting they would prioritise consumer protection and fraud prevention.
The initiative is expected to boost confidence while addressing risks in converging telecoms and financial services.
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