Business
Ibukun Awosika resigns from Cadbury board
The resignation takes effect from May 1, 2026, according to a statement signed by the company secretary, Afolasade Olowe.
Ibukun Awosika has resigned from the board of Cadbury Nigeria Plc, after more than 16 years of service.
The resignation takes effect from May 1, 2026, according to a statement signed by the company secretary, Afolasade Olowe.
The board expressed appreciation for her contributions since joining as a Non-Executive Director in October 2009 and noted that a replacement would be announced in due course.
Business
Dangote exports N757bn jet fuel to Europe in June
The report stated that flows of jet fuel from Nigeria to Europe rose from 232,000 metric tonnes in May to 466,000 metric tonnes in June, the highest volume exported from the country to Europe since Nigeria became a net exporter of jet fuel in 2024, when the Dangote Refinery commenced aviation fuel production.
Latest data from the S&P Global Commodity Insights, indicates that Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757 billion.
According to the market report, the refinery’s exports came as the European jet fuel market turned increasingly bearish following a sharp decline in prices from the highs recorded during the Middle East conflict.
The report stated that flows of jet fuel from Nigeria to Europe rose from 232,000 metric tonnes in May to 466,000 metric tonnes in June, the highest volume exported from the country to Europe since Nigeria became a net exporter of jet fuel in 2024, when the Dangote Refinery commenced aviation fuel production.
The June export volume is equivalent to about 582.5 million litres of jet fuel. At an estimated domestic value of N1,300 per litre, the shipment is worth about N757.25 billion.
On the other hand, aviation fuel exports from the United States fell sharply in the past months.
The report showed that jet fuel exports from the United States to Europe declined steadily over the same period, falling from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and further to 399,000 metric tonnes in June, leaving Nigeria as a bigger supplier to Europe during the month.
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 400 Sell ₦1,410
GREAT BRITISH POUND (GBP) Buy ₦1,860 Sell: ₦1,885
EURO (EUR) Buy ₦1, 570 Sell ₦1,590
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
CBN EXCHANGE RATES
US DOLLAR (USD) ₦1,370.19
GREAT BRITISH POUND (GBP) ₦1,829. 89
EURO (EUR) ₦1,568.32
SWISS FRANC (CHF) ₦1,1706.13
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦202. 06
WEST AFRICAN CFA (XOF) ₦2.38
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 48
SAUDI RIYAL (SAR) ₦364.93
SOUTH AFRICAN RAND (ZAR) ₦84. 46
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405
GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
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
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,370.15
GREAT BRITISH POUND (GBP) ₦1,832.17
EURO (EUR) ₦1,568.28
SWISS FRANC (CHF) ₦1,1705.44
JAPANESE YEN (JPN) ₦8. 51
CHINESE YUAN (CNY) ₦201. 80
WEST AFRICAN CFA (XOF) ₦2.38
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 98
SAUDI RIYAL (SAR) ₦364.91
SOUTH AFRICAN RAND (ZAR) ₦84. 32
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