The Naira strengthened yesterday, trading at N1,540 per dollar in the parallel market, up from N1,545 per dollar recorded last weekend. In the Nigerian Foreign Exchange Market (NFEM), the currency also appreciated to N1,527.5 per dollar, a level last seen on July 3 this year. According to data from the Central Bank of Nigeria (CBN), the exchange rate improved from N1,531 per dollar last weekend to N1,527.5 per dollar, reflecting a N3.5 gain for the Naira. As a result, the gap between the parallel market and NFEM exchange rates narrowed to N12.5 per dollar, down from N14 per dollar on Friday.

The naira strengthened on Friday, trading at N1,545 per dollar in the parallel market, up from N1,552 per dollar on Thursday. Likewise, it appreciated in the Nigerian Foreign Exchange Market (NFEM), closing at N1,531 per dollar, compared to N1,533 per dollar the previous day, according to data from the Central Bank of Nigeria (CBN). This reflected a N2 gain for the local currency. As a result, the gap between the parallel market and NFEM rates narrowed to N14 per dollar, down from N19.80 per dollar on Thursday. Overall, the naira advanced by N5.9 in the official market during the week but slipped by N5 in the parallel market.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bayo Ojulari, has revealed that the company is facing resistance from forces opposed to its ongoing reforms. Ojulari made this known on Thursday when he received the leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the NNPC Towers in Abuja. He stressed that while transformation often comes with challenges, the NNPC Ltd. management remains resolute and will not bow to pressure from individuals attempting to undermine reforms designed to reposition the company for the good of Nigerians. “We are under attack. We will not budge to short-term pressure, as it will not be in the best interest of Nigerians. “You cannot drive change without a price, and the transformation is tough,” Ojulari was quoted as saying in a statement posted on the company’s Facebook page on Thursday.

The Central Bank of Nigeria (CBN) has ordered that all Point of Sale (PoS) terminals across the country be geo-tagged within 60 days as part of efforts to curb fraud and enhance oversight of digital payments. “This initiative is designed to ensure that all PoS terminals are traceable and that transactions are secure. Terminals operating outside their registered location will be flagged, and non-compliant devices will be deactivated,” the CBN said in a statement dated August 26, 2025, obtained by our correspondent. Under the directive, both existing and newly deployed PoS machines must be equipped with native geolocation features and dual-frequency GPS receivers for accurate positioning. Devices that fail to comply with the October 20, 2025 deadline will be barred from operation. According to the apex bank, the move is aimed at eliminating “ghost” or cloned terminals and enabling real-time transaction monitoring. Each PoS device will be required to capture and transmit its location at the beginning of every transaction, with activities carried out beyond a 10-meter radius of the registered merchant address automatically flagged. Licensed operators, including commercial banks and fintech firms such as Moniepoint, OPay, and PalmPay, are mandated to register every terminal with a payment aggregator and provide precise merchant coordinates. The CBN added that the policy forms part of its broader strategy to modernise the country’s payment infrastructure, strengthen consumer protection, and ensure digital financial transactions remain secure and traceable.

The naira yesterday weakened to N1,550 per dollar in the parallel market, down from N1,540 per dollar recorded on Monday. In the Nigerian Foreign Exchange Market (NFEM), the currency also slipped, trading at N1,537 per dollar. According to data released by the Central Bank of Nigeria (CBN), the official rate moved to N1,537 per dollar from N1,536.99 per dollar the previous day, reflecting a marginal one-kobo depreciation. As a result, the gap between the parallel market and NFEM rates widened to N13 per dollar, compared to N3.01 per dollar on Monday

The three tiers of government in Nigeria—federal, state, and local councils—have shared a total of **N2.001 trillion** as July 2025 Federation Account revenue. The allocation was made at the **August 2025 meeting of the Federation Account Allocation Committee (FAAC)** in Abuja. According to a communiqué issued by FAAC, the distributable revenue of **N2.001 trillion** comprised: * **Statutory revenue:** N1.282 trillion * **Value Added Tax (VAT):** N640.610 billion * **Electronic Money Transfer Levy (EMTL):** N37.601 billion * **Exchange difference:** N39.745 billion The communiqué indicated that the **gross revenue available in July 2025** stood at **N3.836 trillion**. Out of this, **N152.681 billion** was deducted for collection costs, while **N1.683 trillion** went to transfers, interventions, refunds, and savings. Gross statutory revenue for July was **N3.070 trillion**, lower by **N415.108 billion** than the **N3.485 trillion** recorded in June. Conversely, VAT collections rose to **N687.940 billion**, an increase of **N9.775 billion** over June’s **N678.165 billion**. ### Distribution From the total distributable sum of **N2.001 trillion**: * The **Federal Government** received **N735.081 billion** * **State Governments** received **N660.349 billion** * **Local Government Councils** received **N485.039 billion** * **Oil-producing states** received **N120.359 billion** as 13% derivation From statutory revenue of **N1.282 trillion**, the Federal Government received **N613.805 billion**, states **N311.330 billion**, LG councils **N240.023 billion**, while **N117.714 billion** went to oil-producing states as derivation. From the VAT revenue of **N640.610 billion**, the Federal Government received **N96.092 billion**, states **N320.305 billion**, and LG councils **N224.214 billion**. On the **N37.601 billion EMTL**, the Federal Government received **N5.640 billion**, states **N18.801 billion**, and LG councils **N13.160 billion**. From the **N39.745 billion exchange difference**, the Federal Government received **N19.544 billion**, states **N9.913 billion**, LG councils **N7.643 billion**, and **N2.643 billion** was shared to oil-producing states as derivation. ### Revenue Performance FAAC reported significant increases in **Petroleum Profit Tax (PPT), Oil and Gas Royalty, EMTL, and Excise Duty** in July 2025. It also noted marginal increases in **VAT and Import Duty**, while **Companies Income Tax (CIT) and CET levies** recorded declines.

Nigeria’s foreign exchange reserves have surged to **\$41.00 billion** as of August 19, 2025, the highest in 44 months, according to fresh data from the Central Bank of Nigeria (CBN). This marks the strongest level since December 3, 2021, representing a sharp rebound after a period of depletion and volatility largely caused by external debt repayments. The CBN said the steady build-up underscores stronger foreign exchange inflows, enhancing its ability to stabilise the naira, manage liquidity, and guard against speculative attacks. August has recorded particularly robust gains, with reserves climbing by **\$1.46 billion month-to-date**—a 3.69 percent rise from \$39.54 billion on August 1 to \$41.00 billion on August 19, averaging about \$81 million daily. Reserves crossed the \$40 billion mark on August 7, advanced to \$40.5 billion on August 12, and hit the \$41 billion milestone a week later. However, year-to-date growth remains modest. Reserves stood at \$40.88 billion at the end of December 2024, meaning the current figure reflects just a **\$124 million (0.30 percent) increase** since the beginning of the year. Most of the gains have come in the past five weeks, following a muted first half of 2025 when reserves fluctuated between \$37 billion and \$39 billion. In early July, reserves had dropped to as low as **\$37.28 billion** before rebounding sharply to add over \$3 billion—an 8 percent jump in just one month. This recovery now places Nigeria in its strongest external reserves position since late 2021, effectively reversing the sustained drawdowns that eroded reserves throughout 2022 and 2023.

The Naira yesterday weakened in the parallel market, dropping to N1,555 per dollar from N1,550 on Monday. However, it gained strength in the Nigerian Foreign Exchange Market (NFEM), appreciating to N1,534.5 per dollar. According to data released by the Central Bank of Nigeria (CBN), the official exchange rate edged down to N1,534.5 per dollar from N1,534.8 on Monday, reflecting a 30 kobo appreciation. As a result, the gap between the parallel market and NFEM rates widened to N20.5 per dollar, compared to N15.2 per dollar on Monday.

The naira yesterday strengthened in the parallel market, appreciating to N1,550 per dollar from N1,560 per dollar recorded last weekend. However, it weakened in the Nigerian Foreign Exchange Market (NFEM), where it traded at N1,534.8 per dollar, compared to N1,530 per dollar last Friday, reflecting a depreciation of N4.8. According to data released by the Central Bank of Nigeria (CBN), this development reduced the gap between the parallel market and NFEM rates to N15.2 per dollar, down from N30 per dollar the previous weekend.

The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate dropped to 21.88 percent in July 2025, compared to 22.22 percent in June. The data, published in the bureau’s Consumer Price Index (CPI) report on Friday, marks the fourth straight month of disinflation in 2025. According to the NBS, the July inflation figure reflected a “decrease of 0.34% compared to the June 2025 headline inflation rate.” On a yearly comparison, the report showed the July 2025 headline inflation was 11.52 percentage points lower than the 33.40 percent recorded in July 2024. However, the agency highlighted that price growth accelerated in July on a month-to-month basis. “On a month-on-month basis, the Headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%),” the NBS stated. “This means that in July 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in June 2025,” it added. The bureau identified food and non-alcoholic beverages, restaurants and accommodation services, and transport as the main drivers of inflation during the month under review.