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Economy

CBN Dismisses Viral ₦5,000 Note Featuring Tinubu’s Picture

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The Central Bank of Nigeria (CBN) has clarified that a ₦5,000 note featuring the image of President Bola Tinubu, which has gone viral on social media, is fake.

The CBN, in a post via its 𝕏 account on Thursday, urged members of the public to disregard the image.

The apex bank dismissed speculations that it had released a sample of a ₦5,000 note featuring President Tinubu.

“This content is fake. Let the public be guided,” the CBN statement read.

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The CBN made the clarification after the image went viral on social media, with some netizens alleging that the apex bank had released a sample for the new note.

In other news, the CBN has dismissed claims that billionaire businessman Razaq Okoya is set to purchase Polaris Bank following a purported liquidation process.

Naijapunchnews understands that a viral post on 𝕏 had claimed that Okoya has made a bid on Polaris Bank following its failure to meet CBN’s recapitalisation requirements.

The tweet claimed that Okoya would acquire the bank and restore compliance, pending approval from the Nigeria Deposit Insurance Corporation (NDIC) and other shareholders.

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However, CBN dismissed the tweet, insisting that there was no truth to the claim.

“This content is fake. Let the public be guided. The Nigerian Banking System is Safe and Secure,” the apex bank said on 𝕏.

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Economy

Naira Marginally Gains At Official Market

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The Nigerian naira recorded a marginal movement against the United States dollar at the official foreign exchange market on Thursday, September 24, 2026.

Data from the Central Bank of Nigeria (CBN) showed that the naira closed at ₦1,328.6687 to $1 on Thursday, compared with ₦1,328.4974/$1 recorded on Wednesday.

The latest figure represents a marginal depreciation of about ₦0.17, or roughly 0.01 per cent, against the dollar at the official market.

At the parallel market, commonly referred to as the black market, the naira closed at approximately ₦1,385 to $1 on Thursday.

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This means the parallel-market rate was about ₦56.33 higher than the official CBN reference rate.

However, exchange rates offered by commercial banks, Bureau de Change (BDC) operators and other foreign exchange dealers may vary from the reference rates due to transaction margins, market conditions and prevailing demand and supply.

Market participants are expected to continue monitoring foreign exchange inflows, dollar demand and monetary policy developments for indications of the naira’s direction in the coming days.

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See Dollar to Naira exchange rate today, September 23, 2026

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The Nigerian naira is trading at different rates against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 23, 2026.

The latest available data show that the naira strengthened to N1,327.78 per dollar at the NFEM on Tuesday, from N1,329.80 recorded on Monday.

The latest movement represents a N2.02 appreciation by the naira against the dollar on a day-to-day basis.

In the parallel market, the dollar was quoted at about N1,389 on Tuesday, down from N1,390 recorded the previous day.

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The parallel-market rate puts the gap between the official NFEM rate and the street-market selling rate at about N61.22 per dollar.

At the parallel market rate of N1,389, customers buying $100 would need approximately N138,900, while $1,000 would cost about N1.389 million.

The exchange rate available to individuals and businesses may vary depending on the dealer, location, transaction size and prevailing market conditions.

The naira’s recent performance has come amid developments in Nigeria’s foreign exchange market, including changes in dollar liquidity and monetary policy.

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The Central Bank of Nigeria has continued to monitor conditions in the foreign exchange market as the naira trades around the N1,300-per-dollar level at the official market. Reuters also reported in September that the naira had remained relatively stable, supported by central bank dollar sales and subdued import demand.

For Wednesday, September 23, the latest confirmed figures put the dollar at N1,327.78 at the NFEM and around N1,389 in the parallel market.

The rates could change during the day as demand and supply conditions shift across both markets.

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Economy

Japa: Essential Things Nigerians Should Pack Before Leaving Nigeria

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Moving abroad from Nigeria is one of those life changes that makes a suitcase suddenly feel much smaller.

What looks like enough luggage in your bedroom can seem painfully limited once you start choosing between clothes, documents, electronics, personal care items and the small things that make an unfamiliar place feel like home.

That is why a good diaspora relocation packing list guide should not be about squeezing everything possible into your bags. It should help you decide what deserves precious luggage space, what can be bought after arrival and what should never go into your suitcase in the first place.

The distinction matters because airlines have strict baggage limits, while destination countries have their own customs rules.

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Baggage allowances vary by airline, route, cabin class and aircraft, while individual checked bags are generally recommended not to exceed 23kg for handling reasons. Power banks and spare lithium batteries, for example, must generally remain in carry-on baggage rather than checked luggage.

Start with documents, not clothes

Before thinking about clothing or food, create a secure travel folder for the documents you cannot afford to lose. Your passport, visa or residence documentation, flight information, accommodation details, employment or school documents, insurance information and important contact details should stay accessible throughout the journey.

Carry originals where necessary and keep encrypted digital copies or secure backups of important documents. If you are relocating with children, their birth certificates, school records, vaccination documentation and immigration papers may also be important depending on the destination and circumstances.

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Do not put irreplaceable documents in checked luggage. A suitcase can be delayed, misrouted or damaged, but losing access to your passport or immigration paperwork at the same time can turn a manageable travel problem into a serious one.

Pack for your first two weeks, not your entire future

One of the easiest ways to overpack is to imagine every possible situation you might encounter after moving. Resist that temptation. Your first luggage should support your transition, not reproduce your entire Nigerian household overseas.

Pack enough everyday clothes for your initial period, but consider the climate of your destination before filling a suitcase with Nigerian weather essentials. A person moving to the UK in winter, for instance, needs a very different wardrobe from someone moving to a warmer country.

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The better strategy is to prioritize versatile clothing that can be layered and reused. Comfortable shoes, underwear, sleepwear, basic toiletries and weather-appropriate outerwear deserve more attention than multiple outfits you may rarely wear.

This also reflects advice commonly shared in relocation communities: keep an “open first” collection of essentials so you are not searching through every box or suitcase when you are exhausted after arrival. The practical principle is simple, make your first few days easy before worrying about everything else.

Take the Nigerian items that are genuinely difficult to replace

Food is where relocation packing becomes particularly personal. Nigerians living abroad frequently mention missing familiar foods and ingredients, especially regional items that may be difficult to find or expensive in ordinary supermarkets.

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Discussions among Nigerians abroad show that the issue is not necessarily basic rice, pasta or common spices; it is often the distinctive ingredients and flavors associated with home.

That does not mean you should fill an entire suitcase with food.

Instead, prioritise small quantities of dry, commercially packaged items that are legal to import into your destination and that you genuinely use. Depending on the destination, these could include permitted spice blends, seasoning, certain dried ingredients or packaged Nigerian foods.

However, never assume that because something is dry, packaged or commonly carried by other Nigerians, it is automatically permitted. Import rules differ significantly between countries.

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For Great Britain, for example, travelers can bring some packaged foods such as biscuits, chocolate, pasta and packaged soup, while meat, dairy, fruits, vegetables, nuts and seeds can be subject to restrictions.

The EU is stricter in several respects. Travelers arriving from outside the EU generally cannot bring meat or dairy products into the bloc, although specific exemptions apply to certain products and circumstances.

So if you are relocating from Nigeria to London, Paris, Amsterdam or another destination, check the destination’s official customs rules before sealing that bag of food.

Do not sacrifice luggage space for easily replaceable goods

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A relocation suitcase should contain things that solve a problem, preserve something important or save you meaningful money—not everything you happen to own.

Basic toiletries, ordinary kitchen utensils, cheap hangers, bulky bedding and generic household products can often be purchased after arrival. Carrying large quantities simply because they are cheaper in Nigeria may not make economic sense once excess-baggage charges and limited suitcase space are considered.

The same applies to appliances. Check the electrical system and plug standard of your destination before taking Nigerian appliances abroad. A device that is cheap to replace may not be worth carrying if it is incompatible with the local voltage or requires additional equipment.

Ask yourself a blunt question before packing anything: Would I still pay to transport this if I had to buy extra luggage for it? If the answer is no, leave it behind.

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Give electronics and valuables special treatment

Your laptop, phone, chargers, external drives, camera equipment and other essential electronics should be packed with both security and airline rules in mind.

Keep valuable electronics in your carry-on whenever the airline permits it. IATA specifically advises passengers not to place valuable or irreplaceable items in checked baggage, while spare batteries and power banks have specific restrictions because of fire risk.

Keep chargers organized in a small pouch rather than scattering them throughout your luggage. If you use several devices, label unfamiliar cables before leaving Nigeria; it sounds trivial until you are sitting in temporary accommodation with three identical USB cables and no idea which one powers your laptop.

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Think about health and personal-care essentials

Your relocation luggage should also cover the personal items that may be inconvenient to replace immediately. Prescription medicines, if applicable, should remain in their original packaging and be accompanied by the documentation required by the destination country.

Basic toiletries and personal-care products that you know work for you can be worth carrying in reasonable quantities, particularly during the first few weeks when you are still learning where to shop.

Do not, however, turn your suitcase into a pharmacy. Check the rules of the destination country for medicines and controlled substances before traveling, because something legally purchased in Nigeria may have different restrictions elsewhere.

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Leave prohibited and questionable items behind

Some of the worst relocation-packing decisions are made with the assumption that customs officers will not notice.

That is a dangerous gamble. The UK, for example, prohibits or restricts items including controlled drugs, offensive weapons, certain endangered species and personal imports of meat and dairy products from most non-EU countries.

Food restrictions also deserve serious attention. If you arrive in Great Britain with banned food and declare it, the Border Force can confiscate and destroy it; failing to declare prohibited products can result in penalties or prosecution.

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When in doubt, check the official customs guidance for your destination before packing. If an item requires a permit, certificate or declaration, find that out before you arrive at the airport, not while standing in front of a customs officer.

Build one ‘first-night’ bag

Finally, separate the things you will need immediately from everything else.

Your first-night bag should contain a change of clothes, basic toiletries, essential documents, medications, chargers, important electronics and anything else you would need if your checked luggage were delayed. This simple step can save you considerable stress during the first 24 hours.

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Your relocation luggage should make your new beginning easier, not burden you with your old life. Pack the things that are valuable, difficult to replace, culturally meaningful or immediately useful. Leave behind what is cheap, bulky and readily available.

Most importantly, remember that your airline’s baggage allowance and your destination country’s customs rules are separate issues. Staying within the weight limit does not mean every item inside the suitcase is legally admissible.

IATA emphasises that baggage conditions remain airline-specific, while governments set their own customs and import requirements.

For Nigerians relocating abroad, the smartest suitcase is therefore not necessarily the heaviest one. It is the one that contains exactly what you will need to begin your new life with less stress, fewer unnecessary expenses and no avoidable customs problems.
(TRIBUNE)

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