Business

Nigeria gears up to host Intra-African Trade Fair 2027

While Nigeria was taking over the baton from Algeria which hosted the highly successful fourth edition that recorded US$49.94 billion in trade and investment deals, the 2027, IATF2027 is targeting over US$50 billion in trade and investment deals, 100,000 visitors, 2,500 exhibitors, and participation from more than 100 countries.

Published

3 months ago

March 11, 2026

OCHEFA

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• Chief Olusegun Obasanjo, IATF Chairperson

The Nigerian government has declared its readiness to host the fifth Intra-African Trade Fair 2027 (IATF2027), scheduled to take place from November 5 – 11 in Lagos.

The host agreement signing ceremony was held in Lagos, the designated ‘host city.

Dr. Jumoke Oduwole, Federal Minister of Industry, Trade and Investment, signed on behalf of Nigeria, while Dr. George Elombi, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank)., Francisca Tatchoup Belobe, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, and Cynthia E. Gnassingbé-Essonam, Director of Private Sector Engagement and Communications at AfCFTA Secretariat, who represented Wamkele Mene, Secretary General, AfCFTA Secretariat, signed for the IATF.

The Fair will be held under the theme “Global Africa, Smart Trade- From Market Access to Market Power”featuring diverse programme notably the trade exhibitions

In his opening remarks, Chief Olusegun Obasanjo, Chairperson of the IATF2027 Advisory Council and Former President of the Federal Republic of Nigeria, underscored the strategic importance of the Fair in shaping Africa’s economic sovereignty.

He said : “The signing of this host agreement marks a momentous milestone for Nigeria and for the continent. Bringing IATF2027 to Lagos is historically significant, as this city hosted the Lagos Plan of Action adopted in 1980, which championed Africa’s industrialisation and economic self-sufficiency. We have to work hard to keep moving towards the Africa we want. I am confident that IATF2027 will surpass all previous editions in both scope and impact as we advance our shared goal for a unified African marketplace under the AfCFTA.

Commenting on Nigeria’s expanding footprint in intra-African commerce, highlighted Nigeria’s rising contribution

Photo: L-R: Kanayo Awani, Executive Vice President, Intra-African Trade & Export Development, Afreximbank; H.E.Francisca Tatchouop Belobe Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission; Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, Chief Olusegun Obasanjo, Chair, IATF, Dr. Jumoke Oduwole, Minister for Industry, Trade, and Investment; Babajide Sanwo-Olu, Governor of Lagos State; Cynthia Gnassingbe, Director Partnerships and Private Sector AFCFTA; Lois Ekra, Deputy Chair, IATF and Joseph Ifebunandu, Head, Banking Legal Services, Afreximbank during the Intra-African Trade Fair 2027 (IATF2027) Host signing ceremony in Lagos, Nigeria, held March 9

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Exchange Rates Today Friday, 12 June

Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850

Published

5 hours ago

June 12, 2026

OCHEFA

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Official CBN Exchange Rates

US Dollar (USD) ₦1,363. 83

Great British Pound (GBP) ₦1,821. 25

EURO (EUR) ₦1,572. 90

SWISS FRANC (CHF) ₦1,706. 49

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦201.20

West African CFA (XOF) ₦2.40

West African Unit Account (WAUA) ₦1,857. 45

SAUDI RIYAL (SAR) ₦363. 29

SOUTH AFRICAN RAND (ZAR) ₦82.61

Black Market Rates

US Dollar (USD) Buy ₦1,397 Sell ₦1,405

Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870

EURO (EUR) Buy ₦1,587 Sell ₦1, 607

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

Business

Airtel launches data calculator to counter depletion complaints

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

Published

1 day ago

June 11, 2026

OCHEFA

32 Views

Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.

Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.

Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.

“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.

The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.

Business

Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

Published

1 day ago

June 11, 2026

OCHEFA

34 Views

Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.

The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.