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Breaking News On Dollar Sale

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The Central Bank of Nigeria (CBN) has announced plans to offer foreign exchange worth $20,000 to any eligible Bureau De Change operator across the country.

This comes more than two years after suspended former CBN governor Godwin Emefiele prohibited the sale of foreign exchange to BDC operators in that area of the FX market.

The apex bank revealed this in a new circular published and signed by the Director, Trade and Exchange Department, Hassan Mahmud on Tuesday.

The circular titled, “Sale of Foreign Exchange to Bureau de Change Operators to meet retail demand for eligible invisible transactions” said the move aimed at rectifying the persisting distortions in the retail segment of Nigeria’s foreign exchange market and bridging the widening gap in the exchange rate.

It said the allocation will be sold at a rate of N1,301/$, reflecting the lower band rate of executed spot transactions at the Nigerian Autonomous Foreign Exchange Market as of the previous trading day, dated February 27, 2024.

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The circular read, “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 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 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 of today, 27th February 2024.

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

It further directed eligible BDCs to make Naira payments to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentation.

“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,” it added.

The CBN in frantic efforts to save the free fall of the naira has made a number of significant reforms towards addressing Naira depreciation, such as probing and clearing FX backlog, limiting forex for foreign education and medical tourism, increasing BDCs’ minimum share capital, and curbing FX speculators, among others.

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Dala Chairman Marks Two Years In Office With Prayers For Peace,Leaders

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By Abdu Saidu

The Chairman of Dala Local Government Area of Kano State, Hon. Suraj Ibrahim Imam, has marked his second anniversary in office with a special prayer session for peace, stability and good governance in Dala, Kano State and Nigeria at large.

The prayer session, held on Saturday at the local government secretariat, featured the recitation of the Holy Qur’an by about 60 Islamic scholars and Qur’anic memorizers drawn from different parts of the council area.

The participants offered prayers for divine guidance, wisdom and success for Governor Abba Kabir Yusuf, President Bola Ahmed Tinubu, members of the National Assembly and the Kano State House of Assembly, as well as other political leaders.

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Speaking at the event, Imam said the prayer session was organised to express gratitude to Almighty Allah for the opportunity to serve the people of Dala for two years and to seek His continued guidance and blessings for the council, the state and the country.

He added that the gathering was also an opportunity to pray for the success of Governor Yusuf and other political leaders in their future political engagements.

On his administration’s performance, the chairman disclosed that several development projects had been executed across the 12 wards of Dala Local Government Area within the past two years, with the support and approval of Governor Yusuf.

He commended the governor for his development initiatives across the state’s 44 local government areas, particularly in healthcare, education, security, road construction, potable water supply, agriculture and employment generation.

According to Imam, the interventions have contributed to improving the living conditions of residents and strengthening development at the grassroots.

He expressed confidence in the governor’s leadership and called on residents and political stakeholders to support his re-election in 2027. He also expressed support for President Tinubu and other APC candidates ahead of the next general elections.

The event was attended by Alhaji Bashir Ibrahim Al-Mustapha, OON, councillors, Islamic scholars, Qur’anic memorizers, political advisers, the local government secretary and other stakeholders from across Dala Local Government Area.

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NNPC Confirms Gas Supply & Network Availability

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NNPC Limited confirms that gas transportation network operated by its subsidiary, NNPC Gas Infrastructure Company Limited (NGIC), remains available to support deliveries to power generating stations Nationwide without any constraints. NGIC’s operational records do not indicate transportation-related constraints within its network that explain the current decline in electricity generation.

NNPC Limited is focussed on actualizing the Federal Government’s gas development and monetization agenda which has led to about 10% growth in gas production volumes 2026 year to date. Gas supply availability is therefore not a challenge as NNPC remains committed to supporting efforts to improve electricity generation through safe, reliable and efficient gas supply and transportation.

This clarification follows the Nigerian Independent System Operator’s (NISO) statement of 5 November 2026, which cited limited gas availability and reduced water inflows to hydroelectric stations as causes of lower generation. NNPC Limited’s clarification concerns the operational status of NGIC’s transportation network. Gas production, commercial supply arrangements and actual deliveries to individual power plants must be assessed separately from the availability of transportation infrastructure.

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A comprehensive assessment must also consider the availability and operational readiness of generating units, plant maintenance schedules and actual gas offtake. These factors determine whether gas supplied can be converted into electricity. They should be verified alongside gas supply data to establish the causes of the shortfall.

NNPC Limited supports a coordinated review of operational data by gas suppliers, transporters, power generators and NISO to identify specific constraints and guide effective interventions. Accurate reporting across the gas-to-power value chain is essential to resolving the challenges and sustaining public confidence.

Our focus remains on dependable energy infrastructure and constructive collaboration that helps translate Nigeria’s gas resources into more reliable electricity for Nigerians.

Andy Odeh
Chief Corporate Communications Officer
NNPC Limited
Abuja

6 November 2026

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Kano Task Force Seizes 3.18m Pregabalin Capsules After Rapid Response Squad Launch

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Barely 24 hours after the Kano State Governor, Alhaji Abba Kabir Yusuf, commissioned the Rapid Response Squad, the Kano State Multi-Agency Task Force on Drug Abuse and Illicit Trafficking has seized approximately 3,180,000 capsules suspected to be Pregabalin in the Sabon Gari area of Kano.

The seizure followed credible intelligence received through one of the reporting platforms linked to the Task Force Command and Call Centre, just hours after the Rapid Response Squad was officially launched by the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf.

Acting swiftly on the intelligence, operatives of the Squad identified and searched a residential apartment at No. 13 Apple Avenue, Normansland, Sabon Gari, in Fagge Local Government Area, which was suspected to be used for illicit activities.

During the operation, the operatives recovered approximately 3,180,000 capsules suspected to be Pregabalin and arrested a 34-year-old man identified as Gregory Ogbuji.

The suspect, who is suspected to be associated with SEEMARK PHARMA LTD, registered under number 2012546, has been charged under Section 249 of the Penal Code. Another suspect allegedly connected to the operation is currently at large.

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The Chairman of the Task Force, Muhuyi Magaji Rimin Gado, Esq., described the seizure as a significant early result of the Rapid Response Squad, stressing that it demonstrated the importance of intelligence-led enforcement and effective communication between the public and law enforcement agencies.

According to the Task Force, Pregabalin has emerged as one of the most widely abused drugs in Kano State. Its operational experience indicates that approximately eight out of every 10 drug-related operations involve suspects dependent on or abusing Pregabalin.

The Task Force described the development as a serious public health and security concern, stressing that sustained enforcement, public vigilance and community cooperation would be critical to tackling the growing challenge of substance abuse and illicit drug trafficking in the state.

The latest operation is one of the first major outcomes of the investment in establishing and equipping the Rapid Response Squad, which was designed to provide a coordinated and rapid response to reports of drug abuse, illicit trafficking, thuggery and other related crimes.

The Chairman warned individuals and groups involved in the illicit drug trade to desist, assuring residents that the Task Force would continue to take firm action against offenders without fear or favour.

He also expressed appreciation to members of the public for their prayers, cooperation and continued support, urging residents to make full use of the Task Force’s reporting platforms and Command and Call Centre to provide credible information on suspected drug abuse, trafficking, thuggery and other criminal activities.

He said the cooperation of residents remained essential to strengthening public safety and advancing the state government’s “Kano First” agenda.

Signed:
Lamara Garba, mnipr
Secretary, Media and Publicity Committee
Kano State Multi-Agency Task Force on Drug Abuse and Illicit Traficking.

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