Business
NRC suspends erring staff seen in viral video
The Nigerian Railway Corporation (NRC) has suspended members of staff who were seen in a viral video negotiating with passengers on the Lagos-Ibadan Train Service without obtaining tickets.
On Tuesday, the corporation promised to punish erring members of staff who are bent on tarnishing the image of the state-owned enterprise.
NRC issued this threat on Tuesday via a statement on X (formerly Twitter) following a complaint lodged by Daramola E. Adenike (@Dara4Enjoyment) about its official.

Adenike explained in details how several passengers in one of the coaches did not obtain tickets, but the NRC officials collected cash from them.
On Wednesday, the management of NRC swung into action by suspending the erring staff in the viral video through a statement signed by spokesman Yakub Mahmood.
“Following a viral video that has been trending on various social media platforms vividly showing Railway Staff negotiating with our esteemed passengers on-board Lagos-Ibadan Train Service (LITS) to pay without obtaining official boarding tickets, the general public is invited to note that the NRC seriously condemns such acts of misconduct, which is a flagrant disobedience to laid down rules and utter betrayal of the confidence reposed on such workers, especially at this time that the Federal Government is making all efforts to revitalizing and modernizing the Corporation,” Mahmood said.
“This misconduct is regrettable and unacceptable as it negates the tenets and norms of the corporation.
“The Corporation has therefore placed the identified erring officers on immediate suspension pending the outcome of the in-depth investigation already ongoing by the Management Committee set up to look into the issue.
“Our esteemed passengers and the general public are assured that this unwholesome attitude and image dent to the Corporation by any staff will not be tolerated nor treated with any levity.
“Accordingly, disciplinary proceedings in line with the extant rules citing relevant sections of the NRC General Rules and Public Service Rules (PSR) will definitely be visited on all those found wanting or connected to this irresponsible act.”
The Management of the NRC also used this medium to enjoin all its intending passengers on LITS and other train corridors to insist on and demand for boarding tickets after making appropriate payments at the designated stations or book online appropriately.
Mahmood also called on the public to please note that the electronic ticketing system is being deployed and will be available on both the Lagos-Ibadan Train Service and the Warri-Itakpe Train Service (WITS) by the end of October 2023.
Business
BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club
BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.
In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.
PRESS STATEMENT
Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club
Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.
We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.
We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.
We appreciate the continued interest in BUA Group and thank the public for their understanding.
BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business
Nigeria’s oil minister orders marketers to reduce fuel price
“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .
At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.
He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”
“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.
Business
Naira Exchange Rates Tuesday, 30 June 2026
BLACK MARKET RATES
US DOLLAR (USD) ₦1, 390
GREAT BRITISH POUND (GBP) ₦1,855
EURO (EUR) ₦1, 585
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 390 Sell ₦1, 395
GREAT BRITISH POUND (GBP) Buy ₦1,855 Sell: ₦1,870
EURO (EUR) Buy ₦1, 585 Sell ₦1,605
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
OFFICIAL CBN EXCHANGE RATES
US DOLLAR (USD) ₦1,383. 63
GREAT BRITISH POUND (GBP) ₦1,831.64
EURO (EUR) ₦1,578. 03
SWISS FRANC (CHF) ₦1,710.71
JAPANESE YEN (JPN) ₦8.55
CHINESE YUAN (CNY) ₦203. 65
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,872. 07
SAUDI RIYAL (SAR) ₦368.43
SOUTH AFRICAN RAND (ZAR) ₦84.24
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