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Naira Exchange Rates, Friday September 25

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Black Market Rates

₦1382DOLLAR (USD)

₦1855POUND (GBP)

₦1545EURO (EUR)

1000 DOLLAR (CAD)

₦70 RAND (ZAR)

370DIRHAM (AED)

190YUAN (CNY)

₦100G.CEDI (GHS)

₦2350 CFA F.(XOF)

₦2250 CFA F.(XAF)

₦850 AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1328.67

POUND (GBP)₦1758.36

EURO (EUR)₦1511.63

SWISS FRANC (CHF)₦1605.45

JAPANESE YEN (JPN)₦8.38

CFA FRANC (XOF)₦2.31

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1808.03

CHINESE YUAN (CNY)₦197.92

SAUDI RIYAL (SAR)₦353.86

SOUTH AFRICAN RAND (ZAR)₦81.09

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Business

TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year

In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.

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TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.

Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.

The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.

Moniepoint is also the only African company represented on the inaugural list.

Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.

In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.

“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.

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Business

Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline

In Kenya, Dangote and the government are ⁠due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.

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Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline ‌that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.

The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity ⁠at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.

Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline ‌and ⁠power plant, and a polypropylene packaging facility, in Ethiopia.

The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.

Developers say the infrastructure will strengthen ⁠energy security and improve supply chain resilience for the two countries, he said.

Abiy is on a visit to Djibouti and ⁠made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.

In Kenya, Dangote and the government are ⁠due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.

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Business

China Woos Nigeria To Join WAICO Memberships For Technology Advantages

African countries on the memberships list include South Africa, Kenya, Cameroon, Sudan, Ethiopia, Senegal, Zambia and Algeria.

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The Chinese Ambassador to Nigeria, Yu Dunhai, has emphasised the need for Nigeria to join the World Artificial Intelligence Cooperation Organisation (WAICO) to share in global tech development.

The World Artificial Intelligence Cooperation Organization (WAICO) is an international organization focused on artificial intelligence (AI) established in July 2026. Proposed by China before its 2026 World Artificial Intelligence Conference, it is headquartered in Shanghai and oriented toward the Global South.

Twenty-nine countries signed the founding agreement on 16 July 2026 in Shanghai, followed by eight additional signatories later that month, bringing the total membership to 37 countries.

African countries on the memberships list include South Africa, Kenya, Cameroon, Sudan, Ethiopia, Senegal, Zambia and Algeria.

WAICO is believed to have been set up to rival the US-led Pax Silica initiative, aiming to counterbalance Western influence across global supply chains for rare-earth elements, semiconductors, and AI governance.

Ambassador Yu made the call on Wednesday in Abuja during an event celebrating the 77th anniversary of the founding of the People’s Republic of China, which shares its October 1st National Day with Nigeria.

Speaking at the evening reception, Ambassador Yu said, ” Those who walk the same path go far. Let us empower development through innovation, openness, and sincere cooperation to continuously enrich China-Nigeria friendship and write a new chapter in China-Africa relations.”

Regarding 55 years of diplomatic ties with Nigeria, Yu noted that both nations have grown closer through mutual respect and shared success.

“Under the strategic leadership of President Xi Jinping and President Bola Ahmed Tinubu, our relationship has entered the fast lane,” he said.

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