Market data on Thursday confirmed that the local currency is enjoying one of its most stable trading weeks in recent months.
The gap between the official and parallel markets also narrowed further , signalling improved market balance.
Market data on Thursday confirmed that the local currency is enjoying one of its most stable trading weeks in recent months.
Naira Holds Steady Official Window
According to figures published by the FMDQ Securities Exchange, the Naira traded at about ₦1,451.86 per dollar in the Nigerian Foreign Exchange Market (NFEM).
The local currency has hovered between ₦1,450 and ₦1,452 since Monday, reflecting sustained stability.
Traders also reported reduced intraday volatility, supported by improved dollar supply.
Analysts credit the trend to stronger foreign capital inflows, which have surpassed $20 billion so far this year, and the Central Bank of Nigeria’s (CBN) recent structural overhaul of the Bureau de Change (BDC) segment.
Parallel Market Rate Also Steady
In the parallel market, the dollar sold for an average of ₦1,490 and bought for ₦1,475 on Thursday.
Data from street traders and rate-tracking platforms indicate that the difference between official and black-market rates has dropped to around ₦35–₦40, reflecting reduced arbitrage and smoother market operations—key goals of the CBN’s FX reforms.
Latest Key FX Rate
NFEM (Official) Rate: ₦1,451.86 / $1
Black Market Buying Rate: ₦1,475 / $1
Black Market Selling Rate: ₦1,490 / $1
Euro (Black Market): ₦1,725 / €1
Outlook Remains Positive
Nigerias external reserves, now around $45.3 billion, continue to support market confidence.
Experts say the usual December surge in dollar demand is being cushioned by stronger liquidity and tighter regulations for BDC operators.
Investors are watching the US Federal Reserve’s upcoming policy decisions, which could weaken the dollar globally and offer further support to emerging market currencies, including the Naira.
Access Bank has strengthened its hold across Africa once again, completing the takeover of Standard Chartered’s operations in Cameroon.
This development has raised fresh conversations about the bank’s aggressive expansion strategy and what it means for Nigeria’s banking industry. Here is a clear breakdown of what is happening.
Standard Chartered is leaving more African markets
Standard Chartered has been quietly exiting several African countries as part of a global restructuring plan. Cameroon is the latest on that list. Before this, the bank had already pulled out of Angola, The Gambia, Tanzania and Sierra Leone.
The exit is part of its strategy to simplify operations, cut costs, and focus on bigger markets. According to the statement released on December 5, 2025, Standard Chartered confirmed the final handover of its Cameroon business to Access Bank Cameroon.
Access Bank steps in and takes full control
Access Bank has now taken over all of Standard Chartered’s operations in Cameroon. Both banks have been working together for years to ensure a smooth transition from systems and operations to staff movement.
The takeover gives Access Bank direct access to Standard Chartered’s customers, staff and existing business structures in Cameroon. For Access Bank, this is another major step in building a stronger presence in Central African.
The bank already has footprints in several African countries, including Sierra Leone, Rwanda, Gambia, Congo, Kenya, Tanzania, Mozambique, Zambia, Botswana, Guinea, Ghana, and of course Nigeria. It also operates in the UK.
Why Standard Chartered left, and why Access Bank is expanding
Standard Chartered explained that leaving Cameroon aligns with its plan to reduce complexity and improve efficiency globally.
The bank says it will no longer maintain offices in the country but will still support international transactions going into Cameroon.
On Access Bank’s side, the strategy is simple: expand, dominate, and serve a wider African market. The acquisition opens fresh opportunities for growth, especially within central Africa’s banking sector.
What this means for customers
For customers in Cameroon, their accounts and services will now be managed by Access Bank Cameroon.
They also inherit Access Bank’s digital platforms, wider network and customer service structure.
For Access Bank, it means thousands of new customers added to its continental network.
This takeover is not new for Access Bank. Just six months earlier, it acquired Standard Chartered’s consumer, private and business banking unit in Tanzania.
That move boosted its digital and retail banking operations in East Africa. Cameroon is now the latest addition to that expansion drive.
Meanwhile, Zenith Bank denies takeover rumours
While Access Bank is acquiring banks across Africa, Zenith Bank recently denied reports claiming it planned to buy Paramount Bank in Kenya. Zenith clarified that no such deal exists, though it admitted it is actively looking at regional expansion in the long term.
There is apprehension in Anambra over the arrest of a former governor of the state and immediate past Minister for Labour and Employment, Senator Chris Nwabueze Ngige, by the Economic Financial Crimes Commission (EFCC).
The social media was awash yesterday, Wednesday, December 10, 2025, with claims that Ngige had been kidnapped, but it turned out that he was being held at the head office of the EFCC in Abuja.
Confirming Ngige’s whereabouts, his media aide, Fred Chukwuelobe, said in a terse statement last night: “I have been receiving calls in the past hour from friends and journalists seeking the veracity of the news making the rounds that His Excellency, Dr. Chris Ngige, former Governor of Anambra State and immediate past Minister of Labour and Employment, ‘has been kidnapped.’”
Chukwulobe stressed that there was no abduction and confirmed that the former minister is with anti-graft operatives.
Ngige is with the EFCC. He was not ‘abducted’ or ‘kidnapped’,” he insisted.
Chukwuelobe added that more information about Ngige’s situation would be made available in due course.
Meanwhile, a gloomy atmosphere pervades at Ngige’s country home in Alor, Idemili South Local Government Area, according to a report by the portal, 247Ureports, which has its roots in Anambra. “Villagers spoke in hush tones over the report,” the online medium said.
Ngige’s arrest and detention by the EFCC comes amid long-standing corruption allegations tied to his political career. The EFCC once produced a report accusing him of diverting or laundering more than N46 billion earmarked for Anambra’s local governments during his time as governor.
In his later role overseeing the Nigeria Social Insurance Trust Fund (NSITF) as Labour Minister, he was questioned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), with EFCC support, over alleged contract irregularities and claims of ‘job-racketeering.’
The African Democratic Congress (ADC) has called on Peter Obi to decide whether he is part of the coalition, adding that zoning ahead of the 2027 election is not an option.
The development comes after Obi said the ADC-led coalition was “faltering” due to unresolved issues over zoning and the rotation of key political offices.
In his reaction, ADC spokesperson, Bolaji Abdullahi, stated that the coalition had not gotten to the stage where zoning should be considered.
“We’re not talking about zoning or no zoning now. Nigerians are still waiting for us to tell them what we will do differently.
“So, zoning or no zoning is not on the table now. If that is the condition for Obi to join us, maybe he should wait till that time.
I understand what Peter has been saying. But I will encourage him to make up his mind if he wants to be part of the coalition or not.
“The most important thing for us is how we can convince Nigerians that we represent the credible alternative, and this is without prejudice to where the candidate will come from.
“But if zoning is the condition on which he continues to assess the coalition, he should probably wait until we get to that point.
“It’s unfortunate that he used a word like unstable, because instability is not contingent on whether we are able to make certain decisions on zoning at this point.
“We are stable. Within five months, we have offices in 27 or 28 states without a single political officeholder. That’s a major achievement.
“We want him to be part of our journey. We want him to be part of building the party,” Abdullahi said. (The Sun)
Former Kogi West Senator, Dino Melaye, has lashed out at the Chairman of the House of Representatives Committee on Customs and Excise, Leke Abejide, for allegedly attempting to stir up leadership crisis within the African Democratic Congress, ADC.
Melaye, who stressed that there is no faction within the ADC, said Abejide, who he said the “weight of his Agbada is above the weight of his brain”, is no longer a member of the party.
In a video on his verified Facebook page, Melaye said the lawmaker representing the Yagba East/Yagba West/Mopamuro Federal Constituency of Kogi State,
has been expelled by the National Working Committee of the party.
He said: “I want to state categorically that there is no faction in ADC, Leke Abejide is an imbecile, he is not okay.
“When a man laughs when nothing is funny, you know that something is wrong with his medulla oblongata. A bleaching member of the House of Reps like him who is now partyless have been completely suspended by the party.
Not only is he suspended, he has been expelled by the highest organ, the National Working Committee of the party.
“He is no longer a member of the ADC and it’s because he’s so myopic and porous that is why he will always use ‘is’ for ‘was’ and that is why he is bleaching. He is a disgrace to us in Okun land because Okun people are intellectually mobile and sagacious, sophisticated.
“This is the first time we are having a man with 100 percent local content in the National Assembly and it’s a disgrace to us that we are so pained that the same House of Representatives that Okun people like Shola Ojo, a lawyer of over 40 years experience went to, it’s a place that veteran journalist like Duro Meseko went to, it’s a place that Dino Melaye went to.
Then to have that charlatan whose weight of his Agbada is above the weight of his brain. It’s a sorry state and on behalf of Leke Abejide, we are very sorry to the people of Okun land and Nigerians.”
Osun: Three injured in APC, PDP clash after Supreme Court ruling
From Lateef Dada, Osogbo A clash between members of the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) in Otan-Ayegbaju, Boluwaduro Local Government Area, has left three individuals with varying degrees of injuries.
Adetunji Mosebolatan, president of the Otan-Ayegbaju Progressive Union (OAPU), condemned the violence in a statement on Sunday, urging politicians to maintain peace within the community..
Nigeria reports that a group of soldiers in the Benin Republic on Sunday announced that they had removed President Patrice Talon from office.
The soldiers, who identified themselves as members of the “Military Committee for Refoundation (CMR),” made the announcement on state television.
They declared that they had met and resolved that “Mr Patrice Talon is removed from office as president of the republic.”
The French Embassy confirmed the security situation on X, saying shots had been heard in the area and advising French nationals to remain indoors.
Reports from Beninese media indicate that the president’s residence in the Le Guézo neighbourhood was attacked by a group of military personnel led by Lieutenant Colonel Pascal Tigri.
Later in the morning, Tigri reportedly appeared on national television, said to be under military control, where he declared himself chairman of a “military re-establishment committee.”
As of the time of this report, President Talon’s whereabouts remain unknown, and no official statement has been issued by the government.
The situation in the capital is described as extremely volatile, with reports of troop movements at key strategic locations across Cotonou. Local media outlets have promised continuous updates as events unfold.
President Talon, who has been in power since 2016, was expected to step down in April 2026 after completing two terms in office.
The latest incident extends military takeovers across West Africa in recent years, including Guinea-Bissau, Niger, Mali and Burkina Faso.
The All Progressives Congress has trimmed its list of aspirants ahead of the Osun off-cycle governorship primary, ruling out Senator Iyiola Omisore and six others after a detailed screening exercise.
The committee submitted its findings to the party’s National Working Committee on Friday, declaring that the affected aspirants failed to satisfy key constitutional and guideline requirements, including the mandatory nomination support from five eligible, fully registered, and financially up-to-date party members in every local government.
According to the panel, the petitions filed by concerned stakeholders raised serious compliance issues that could not be ignored in the interest of fairness and uniform application of APC rules.
The disqualified aspirants include Omisore, Babatunde Haketer Oralusi, Oyedotun Babayemi, Akinade Akanmu Ogunbiyi, Benedict Olugboyega Alabi, Adegoke Rasheed Okiki Adekunle, and Senator Babajide Omoworare.
The committee, however, cleared former NIWA Managing Director, Munirudeen Bola Oyebamiji, and Mulikat Abiola Jimoh to participate in next month’s primary after confirming that both met all constitutional and guideline requirements.
The report emphasised that the screening was conducted strictly in line with the 1999 Constitution, the Electoral Act, APC Constitution, and the party’s 2025 primary regulations.
The member representing Mafara North in the Zamfara State House of Assembly, Shamsuddeen Hassan Basko, has defected from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP).
His defection was formally announced on Thursday during plenary by the Speaker of the Assembly, as Governor Dauda Lawal presented the 2026 proposed budget.
The move marks another setback for the APC and further dents the political influence of former Governor Abdulaziz Abubakar Yari, whose camp has suffered a series of political losses in recent months. Mr Hassan, who represents Mr Yari’s constituency, said he left the party due to worsening internal crises and poor leadership at both the local government and state levels.
In a letter dated 3 December 2025 and addressed to the APC chairman of Galadima Ward, Talata Mafara Local Government Area, the lawmaker announced his resignation, noting that persistent divisions and lack of direction within the party had hindered effective political participation.
“After careful reflection on the activities, crisis, divisions, sidelining, and poor leadership of the party from the local government and state levels, I have decided to step away from active participation in the party,” the letter read.
Mr Hassan added that his decision was in the best interest of his constituents, though he appreciated the opportunities he had during his time in the APC. He urged the ward leadership to consider the letter as his formal notice of exit and said copies of the correspondence had also been forwarded to the APC chairmen at the state and local government levels.
President Bola Tinubu has transmitted a list of 65 ambassadorial nominees to the Senate for confirmation.
Senate President Godswill Akpabio read the President’s letter at plenary, requesting the Senate to screen and confirm the nominees.
The list comprises 34 career ambassadors and high commissioners, and 31 non-career nominees.
Among the career nominees are Sulu-Gambari Olatunde from Kwara State and Segun Ige from Edo State, while the non-career list includes Senator Folasade Grace Bent (Adamawa), Senator Solomon Ita Enang (Akwa Ibom), and Senator Jimoh Ibrahim (Ondo).
The Senate referred all 65 names to the Senate Committee on Foreign Affairs, which is expected to complete the screening within one week.
Former senator representing what is now Kogi Central Senatorial District, Isah Obaro Abonyi, has passed away.
He served in the Senate from 1979 to 1983 and was known for his dedication to public service and efforts to develop his constituency.
Governor Ahmed Usman Ododo expressed his condolences to the family of the late senator.
In a statement released through his Special Adviser on Media, the governor described Senator Obaro as a respected statesman and patriot whose contributions supported the unity and growth of Kogi State.
He said the senator’s life of honesty, humility, and service earned him respect across the state and the nation.
The governor recalled that Senator Obaro maintained active relationships with leaders across Kogi State, offering advice and support for development projects.
He said the senator’s death is a loss to his family, the people of Kogi Central, and the entire state.
Governor Ododo prayed for peace for the late senator and strength for his family during this difficult time.
The Court of Appeal in Abuja has upheld a ruling that prevents Vehicle Inspection Officers (VIO) and the Directorate of Road Traffic Services from confiscating vehicles or imposing fines on motorists.
The appellate court confirmed the October 16, 2024, decision of the Federal High Court in Abuja, dismissing an appeal filed by the VIO as baseless.
The case arose after a motorist challenged the actions of VIO officials, who had stopped him at Jabi District, Abuja, and confiscated his vehicle without legal authority.
The Federal High Court ruled that the VIO had no power under the law to detain, seize, or fine drivers.
Justice Nkeonye Maha had ruled that only a competent court could impose fines on motorists found to breach any law.
The ruling cited provisions of the 1999 Constitution and the African Charter on Human and Peoples Rights to reinforce motorists’ protections.
While the applicant sought N500 million in damages and a public apology, the court awarded N2.5 million instead.
Respondents in the case included the Directorate of Road Traffic Services, its Abuja Area Commander, a team leader, and the Minister of the Federal Capital Territory. Their appeal against the judgment was rejected by the Court of Appeal.
Two members of the Zamfara State House of Assembly have resigned from the All Progressives Congress, APC, citing internal crises and leadership challenges within the party.
Shamsudeen Hassan, representing Talata-Mafara North Constituency, and Nura Dahiru, representing Birnin-Magaji Constituency, conveyed their resignations in letters dated December 3, which were read on the floor of the House by Speaker Bilyaminu Moriki.
Hassan said persistent crises, internal divisions, and poor leadership, as well as the sidelining of members at the state and local government levels, prompted his decision to leave the APC.
He added that remaining in the party no longer aligned with his political convictions or the interests of his constituents.
On his part, Dahiru explained that his resignation would allow him to pursue causes that better represent the people he serves.
Both lawmakers thanked the APC for the opportunities they had and requested that their letters be treated as formal exit notifications.
Following his resignation, Dahiru formally announced his defection to the Peoples Democratic Party, PDP, in Zamfara State.
O Zamfara
