Author: Damilola Olufemi

The Nigeria Customs Service has revealed that rice was the most frequently seized commodity in the first quarter of 2025, with 159 cases involving 135,474 bags valued at ₦939 million. Comptroller-General of Customs, Adewale Adeniyi, disclosed this during a media briefing in Abuja on the service’s first-quarter activities. His remarks were contained in a speech shared with our correspondent. “Rice remained the most prevalent seized commodity, with 159 cases involving 135,474 bags valued at ₦939m. Petroleum products followed with 61 seizures totalling 65,819 litres valued at ₦43m,” Adeniyi said. Aside from Rice, other seized products He noted that beyond rice…

On Thursday, April 17, 2025, Nigeria’s unofficial currency market continued to experience fluctuations in the value of the naira, largely influenced by a strong appetite for U.S. dollars and limited access through formal financial channels. Current Street Market Rates: Buy: ₦1,610 to $1 Sell: ₦1,620 to $1 These figures come from local exchange dealers and may shift slightly depending on the location and size of the transaction. For the most accurate and timely updates, sources such as Aboki Forex, Investors King, or the Central Bank of Nigeria provide useful benchmarks. What is the Dollar-Naira worth in Nigeria’s parallel market today?…

Millions of WhatsApp users in Nigeria and across the globe may soon lose access to the messaging platform as Meta, the app’s parent company, prepares to phase out support for older smartphones. Starting May 5, 2025, WhatsApp will no longer function on certain outdated devices that fail to meet the app’s latest security and performance requirements. The update affects both individual users and small businesses that rely on WhatsApp Business for communication. Meta explained that the decision is part of its ongoing efforts to enhance data security, maintain app stability, and align with the evolving capabilities of modern operating systems.…

The decision by governors elected on the platform of the Peoples Democratic Party (PDP) to shun a proposed opposition coalition has drawn sharp criticism from the camp of former Vice President Atiku Abubakar, who is leading the effort to unite opposition forces ahead of the 2027 general election. Atiku’s coalition has accused the PDP governors of acting as spoilers for President Bola Ahmed Tinubu and sabotaging attempts to rebuild a credible opposition. The coalition also alleged that the governors are usurping party structures and weakening internal democracy within the PDP. The criticism follows a resolution by the PDP Governors’ Forum…

The Nigeria Police Force has condemned the actions of officers captured in a viral video receiving money from a Chinese national, describing their conduct as unprofessional and unethical. The incident, which triggered widespread outrage on social media, led the Force Headquarters to promptly identify the officers involved and initiate disciplinary proceedings. In a statement released on Wednesday and signed by Force Public Relations Officer, ACP Olumuyiwa Adejobi, the police reaffirmed their commitment to professionalism and public trust. “The Nigeria Police Force has taken cognisance of a disturbing video making rounds in the media space, showing police officers receiving money from…

As of Wednesday, April 16, 2025, Nigeria’s black market exchange rate for the dollar to naira continues to show significant volatility. This ongoing instability is fueled by a persistent demand for foreign currency and a limited supply within official financial channels. Black market dollar-to-naira rates These figures are sourced from currency traders and may vary slightly depending on location and transaction volume. For up-to-date rates, platforms like Aboki Forex, Investors King, and the Central Bank of Nigeria (CBN) are commonly referenced. How much is a dollar to Naira today in the black market? A common question among Nigerians: “How much…

Arsenal have reached the Champions League semi-finals for only the third time in the club’s history, sealing the feat with a 2-1 win over Real Madrid at the Bernabeu and a dominant 5-1 aggregate scoreline. After their 3-0 triumph in the first leg, the Gunners extended their lead in the 65th minute thanks to a delightful chipped finish from Bukayo Saka. But just two minutes later, Vinicius Junior capitalized on a lapse from William Saliba to pull one back for the hosts. Gabriel Martinelli then made sure of the result with a stoppage-time goal to end any Madrid hopes of…

The Economic and Financial Crimes Commission (EFCC) has assured Nigerians that efforts are ongoing to recover funds lost to CryptoBank Exchange (CBEX), a now-collapsed digital investment platform accused of defrauding investors of approximately N1.3 trillion. Speaking on Channels Television’s The Morning Brief, EFCC spokesperson Dele Oyewale emphasized that the agency had previously warned the public about the risks of Ponzi schemes. “You’ll recall that on March 11 this year, the Executive Chairman of the EFCC, Ola Olukoyede, had cause to instruct us to alert Nigerians about 58 Ponzi scheme companies; we came out with a list—that shows that we’re proactive…

Dangote Petroleum Refinery has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol. The new ex-depot price is now set at N835 per litre, down from N865, representing a 3.5 per cent decrease. This adjustment follows a recent drop in global crude oil prices, which have fallen to $64 per barrel from over $70 in recent weeks. This marks the second price cut from the refinery, which had earlier reduced its gantry price from N880 to N865 per litre. However, oil marketers did not reflect that reduction in retail pump prices. On…

Despite numerous warnings from financial authorities and experts, Nigerians continue to fall prey to Ponzi schemes promising unrealistic returns. From the infamous MMM to the recent collapse of CBEX, here’s a look at some of the most notable scams that have drained billions from citizens over the past decade: 1. MMM Nigeria (2016)Arguably the most notorious Ponzi scheme in Nigerian history, MMM promised 30% returns within 30 days. It attracted millions of participants and collapsed in December 2016, leaving a trail of financial devastation. 2. Ultimate Cycler, Get Help Worldwide, Twinkas, iCharity Club, Loopers Club, Givers Forum (2016)Riding on MMM’s…