Business
THISDAY is 30 Today, Commemoration, Awards for the Tough and Resilient on Jan 27
THISDAY, Nigeria’s foremost newspaper of record, is 30 years on the news stands today.
THISDAY first started publication as a weekly on January 22, 1995, before quickly transforming into a daily newspaper barely two months later.
In a statement, the paper said that to mark the occasion, it has already set out to honour some of the nation’s ‘Tough and Resilient’ persons and institutions in selected fields of endeavours on Monday, January 27.
The presentation of first awards is set to begin in Davos, Switzerland tomorrow.
In its three decades of trailblazing and robust journalism, THISDAY has without doubt shattered the myths and norms associated with newspaper production and publishing in the country.
Indeed, it has, in no small measure, changed the face of the newspapering industry during that period, including pioneering the now famous colour printing and back page columns.
Till date, THISDAY remains the preferred newspaper among the business, political and diplomatic elite, and has for many years been one of the most recognisable brands locally and internationally.
Thus, to celebrate this milestone, THISDAY recently invited nominations for various categories of nominees for its awards ceremony billed for next Monday, tagged: “When the Going Gets Tough… the Tough Gets Rewarded!” The awards will cover several categories, mostly for the ‘tough and resilient’, including the men and the women and the institutions rebuilding Nigeria and her democracy.
Some of the categories include ‘Titans of The Year’, for the men and women who through their vision, action, guts and courage have made a lasting impact on Nigeria.
One of the major recognitions, however, is the ‘Man of the Year’ award conceded to President Bola Tinubu, for having significantly influenced many of the major events that shaped 2024.
Another of such award categories already won is the ‘Woman of the Year’ by Dr. Ngozi Okonjo-Iweala, as the woman, who in many ways, influenced major events of2024, both in Nigeria and across the globe.
Other categories are, ‘Bank of the Year’, for the bank, which has used innovation, technology and inclusion for growth in earnings and shareholder value as well as ‘Banker of the Year’, for the banker whose leadership and impact has changed the banking landscape for good.
Business
CBN Urges Public, Businesses Not To Reject N100 Bank Note
The CBN strongly cautions individuals, businesses, financial institutions, and other economic agents against rejecting the standard N100 banknote. Such rejection constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency.
The Central Bank of Nigeria (CBN) has stated that the Standard N100 note is still a legal tender and must be accepted for all transactions.
The apex bank made the appeal in a statement by its Ag. Director, Corporate Communications, Mrs. Hakama Sidi-Ali, clarifying that it became necessary, following reports that some members of the public were rejecting the note.
“For the avoidance of doubt, the CBN hereby reiterates that both the commemorative N100 banknote and the standard N100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide,” she said.
“The commemorative N100 banknote, which was introduced to mark Nigeria’s centenary, did not replace the existing standard N100 banknote.
The CBN strongly cautions individuals, businesses, financial institutions, and other economic agents against rejecting the standard N100 banknote. Such rejection constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency.
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 410 Sell ₦1,415
GREAT BRITISH POUND (GBP) Buy ₦1,870 Sell: ₦1,890
EURO (EUR) Buy ₦1, 575 Sell ₦1,595
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
Official CBN Exchange Rates
US DOLLAR (USD) ₦1,379.07
GREAT BRITISH POUND (GBP) ₦1,840.64
EURO (EUR) ₦1,572.00
SWISS FRANC (CHF) ₦1,704.45
JAPANESE YEN (JPN) ₦8. 48
CHINESE YUAN (CNY) ₦202.76
WEST AFRICAN CFA (XOF) ₦2.38
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 53
SAUDI RIYAL (SAR) ₦367.24
SOUTH AFRICAN RAND (ZAR) ₦84. 08
The Nigerian naira continued its recent slide against the US dollar, hitting N1,405 per dollar in the parallel (black) market amid ongoing demand pressures and supply constraints in the foreign exchange market.
According to traders and market sources, the local currency weakened from around N1,400–N1,410 levels in recent sessions, reflecting persistent challenges in the forex ecosystem. In contrast, the official Nigerian Foreign Exchange Market (NFEM) rate, managed by the Central Bank of Nigeria (CBN), stood firmer at approximately N1,368–N1,370 per dollar.
This development widens the gap between the official and parallel markets, raising concerns among analysts about liquidity, speculative activities, and the impact on importers and businesses reliant on dollar transactions.
The depreciation comes as Nigeria grapples with balancing foreign exchange inflows, including remittances and oil revenues, against high demand for imports, debt servicing, and other obligations. Market watchers attribute the pressure partly to seasonal factors and limited dollar availability at official windows, pushing more transactions toward the parallel market.
The CBN has been intervening through various measures to stabilize the naira, including boosting liquidity and tightening monetary policy. However, the parallel market remains sensitive to real-time supply and demand dynamics.
Economists warn that sustained volatility could fuel inflation and affect consumer prices, particularly for imported goods. Stakeholders are calling for stronger policy coordination to narrow the official-parallel rate disparity and restore greater confidence in the forex regime.
Further updates will depend on upcoming CBN interventions and inflows in the days ahead.
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