Official CBN Exchange Rates

US Dollar (USD) ₦1, 358.75

Great British Pound (GBP) ₦1,828. 06

EURO (EUR) ₦1,581. 58

SWISS FRANC (CHF) ₦1,724. 74

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦200.58

West African CFA (XOF) ₦2.40

SAUDI RIYAL (SAR) ₦361. 90

SOUTH AFRICAN RAND (ZAR) ₦83..65

Black Market Rates

US Dollar (USD) Buy ₦1,390 Sell ₦1,398

Great British Pound (GBP)Buy ₦1,580 Sell ₦1, 600

EURO (EUR) Buy ₦1, 590 Sell ₦1, 610

Canadian Dollar (CAD) Buy ₦1, 000 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 ₦100 Sell ₦115

West African CFA Buy ₦2,450 Sell ₦2550

Central African CFA Buy ₦2,320 Sell 2,400

Australian Dollar Buy ₦800 Sell ₦900

Source: CBN/ Aboki Forex

Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd), surpassing its official nameplate capacity of 650,000 bpd.

This was disclosed today in a statement issued by the Dangote Group’s Head of Corporate Communications, Anthony Chiejina.

Chiejina emphasised that the increased capacity highlights the refinery’s strong engineering design and operational efficiency.

Speaking on the development, Vice President of oil and gas at Dangote Industries Limited, Devakumar Edwin, said that the refinery plans to expand its processing capacity to 1.4 million bpd within the next 30 months.

According to him, the goal is to position the facility among the largest refineries in the world.

Edwin noted that the expansion would enhance Nigeria’s energy security, eliminate dependence on imported petroleum products, and strengthen the country’s position as a major exporter of refined products.

Photo: Minister of Finance, Taiwo Oyedele

The Nigeria Export Processing Zones Authority (NEPZA) and 20 other Federal ministries and agencies (MDAs) have made a firm commitment to integrate and adopt the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to improve overall transparency in Federal Government financial operations.

RevOP is a digital, technology-driven system used to track, collect, reconcile, and protect financial revenues. These platforms are typically designed to identify revenue leakages, prevent fraud, automate billing, and ensure that every transaction is visible and traceable in real time.

This revelation came after a meeting between the Minister of Finance and the Chief Executive Officers of 21 affected agencies in Abuja on Tuesday.

The new RevOP was approved by the Federal Executive Council to eliminate day-to-day financial fraud and to advance the financial transparency initiative of President Bola Ahmed Tinubu’s administration.

The Minister, who was represented by the Permanent Secretary of the Ministry of Finance, Muhammed Sanusi, reminded the CEOs that the new revenue monitoring platform was created by the government to comprehensively record its revenue and expenses.

Oyedele added that a total of 31 MDAs had already gone live on the platform and 21 more agencies are to be captured next, as the government is working assiduously to achieve 100 percent financial probity before the end of the year.