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Naira To Dollar, Pound ,Euro …Rates For Monday, October 12

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Black Market (parallel market) Rates

₦1370DOLLAR (USD)

₦1825POUND (GBP)

₦1520 EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAEDIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

₦2300 CFA F.(XOF)

₦2200CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1331.19

POUND (GBP)₦1759.16

EURO (EUR)₦1490.80

SWISS FRANC (CHF)₦1600.37CBN

JAPANESE YEN (JPN)₦8.41

CFA FRANC (XOF)₦2.27

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1800.11

CHINESE YUAN (CNY)₦198.91

SAUDI RIYAL (SAR)₦354.51

SOUTH AFRICAN RAND (ZAR)

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Nigeria’s ₦33bn Fruit Import Bill Exposes Missed Opportunities in Jos

“In North Central Plateau State, apples grow very well. Unfortunately, …, the government, especially the state government, has not been serious about mobilising farmers, training them, giving them improved varieties and the right inputs.”

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Data from the foreign trade statistics compiled by the National Bureau of Statistics (NBS) revealed that Nigeria imported apples and strawberries worth N33 billion from South Africa in the first half of 2026 (January -June).

The report stated that N10.38bn of apples were imported in the first quarter while N22.65bn of apples and strawberries were imported in the second quarter.

According to the report, apples are known to grow best in temperate climates with cold seasons providing 800–1,000+ chilling hours below 45°F (7°C) to break dormancy and ensure proper fruit set.

It can also grow in moderate weather (ideally 65–75°F or 18–24°C). This helps with optimal growth and flavour development without excessive heat stress.

This temperature is suitable in Plateau State, however, a former President of the All Farmers Association of Nigeria (AFAN), Mohammed Gettado, explained that apples were grown in limited quantities in Plateau State but suffered neglect due to poor government attention and the widespread view that the fruit was meant for the wealthy.

Gettado said, “In North Central Plateau State, apples grow very well. Unfortunately, people consider apples a fruit for the elite only. So, the government, especially the state government, has not been serious about mobilising farmers, training them, giving them improved varieties and the right inputs.”

He added that production remained “very small” because farmers lacked support, stressing that subsidised inputs delivered at the right time were critical to scaling output.

“What farmers require are inputs such as fertiliser, agrochemicals and improved varieties, and they must be given at the right time, before planting,” he said. “If farmers can get these, and also have access to markets, Nigeria can produce whatever it needs and even beyond.”

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Kenyan Presidential hopeful threatens to stop Dangote refinery’s project if he wins 2027 election

The presidential hopeful argued that Kenya had capable businesspeople who could undertake the refinery project, adding that the country needed a facility capable of meeting its energy requirements.

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Kenyan presidential candidate, Patrick Osoi, has warned the President of Dangote Group, Aliko Dangote, against rushing the proposed construction of a 700,000-barrel-per-day refinery in Kenya, insisting that the Nigerian billionaire could be forced to leave the country if he becomes president in February 2027.

Osoi issued the warning in a video shared by AM Media, declaring that he would ensure Dangote returned to Nigeria after his inauguration.

“I want to tell Dangote, please, don’t hurry up to start the refinery, because by next year, February, the time I’m sworn in as the president of this country, you’ll be back going to Nigeria,” he said.

The presidential hopeful argued that Kenya had capable businesspeople who could undertake the refinery project, adding that the country needed a facility capable of meeting its energy requirements.

“Because we are asking a refinery which can do that job. We also have business people in this country who can do that job,” Osoi said.

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Juhel CEO-Dr Ifeanyi Okoye, Becomes MAN President

Before he was elected President, Dr. Okoye served the Association in various capacities, including as Chairman of the Enugu, Anambra and Ebonyi States Branches from 1998 to 2005, and as Vice President from 2006 to 2010.

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The Manufacturers Association of Nigeria (MAN) has elected Dr. Ifeanyi Eric Okoye, as its 12th President at its just-concluded 54th Annual General Meeting held on Wednesday, 7th October 2026 at the Lagos Oriental Hotel, Lagos.

He succeeds Otunba Francis Meshioye, OFR, who completed his four-year tenure.

Dr. Okoye is the Chief Executive Officer of Juhel Nigeria Limited, a wholly indigenous pharmaceutical manufacturing company headquartered in Enugu, Enugu State.

Ifeanyi Eric Okoye holds a Bachelor’s degree in Pharmacy from the University of Ife (now Obafemi Awolowo University) with a Bachelor’s degree in Pharmacy and an M.Sc. and PhD in Pharmaceutical Technology and Industrial Pharmacy from the University of Nigeria, Nsukka, graduating as the best student in his class.

He established JUHEL Nigeria Limited in 1987, a wholly indigenous pharmaceutical manufacturing company with headquarters in Enugu, Enugu State. In December 1989.

JUHEL moved to its permanent site in Emene, Enugu, in 2001 and expanded its facilities to include syrups and capsules. In 2010, JUHEL opened a major parenteral manufacturing facility in Awka, Anambra State.

He is a Fellow of the Pharmaceutical Society of Nigeria and an alumnus of Harvard Business School in Boston, USA.

He is also a Member of the National Institute (mni), having attended the National Institute for Policy and Strategic Studies in Kuru, Plateau State.

In 2012, he was conferred the national honour of Officer of the Order of the Federal Republic (OFR).

He has served on several committees, including the Ministerial Committee on the Establishment of World-Class Hospitals and Diagnostic Centers from 2013 to 2015; Member of the Governing Council of the Standard Organization of Nigeria (SON) – 2009 to 2022.

Before he was elected President, Dr. Okoye served the Association in various capacities, including as Chairman of the Enugu, Anambra and Ebonyi States Branches from 1998 to 2005, and as Vice President from 2006 to 2010.

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