Business

Tijjani Borodo Takes Over at IoD As President

Published

3 years ago

June 23, 2023

581 Views

Alhaji Tijjani Mohammed Borodo, has emerged as the President and Chairman of Governing Council of the Institute of Directors Nigeria (IoD Nigeria).

This followed the expiration of the tenure of Office of Dr. Mrs. Ije Jidenma, after she’d meritoriously served the Institute in the same capacity for two years.

The premier corporate governance Institute and a leading promoter of ethical professional standards in Nigeria, has elected Alhaji Tijjani Mohammed Borodo, LLM, F.IoD as President and Chairman of Governing Council,

In a statement, Mr. Dele Alimi, Director General/ Chief Executive Officer of IoD Nigeria said that Borodo to will steer the ship of the Institute and take charge of its affairs for the next two years.

“Alhaji Borodo emerged as President after a duly conducted election at the Institute’s 39th Annual General Meeting held on Thursday 22nd June 2023 at the Institute’s Secretariat, Ikoyi, Lagos,” he said.
He continued that Alhaji Borodo, a Fellow of the Institute of Directors Nigeria, a distinguished lawyer and the pioneer Company Secretary of FBN Holdings Plc., is an astute boardroom executive who has served the Institute previously in various capacities such as First Vice President, Second Vice President, Chairman, Finance & General-Purpose Committee, Chairman, Membership and Branch Development Committee and Honorary Legal Adviser among others.”

The Director -General added: “Indeed, we are very pleased as Alhaji Tijjani Borodo assumes the role of President of IoD Nigeria. As a previous office holder and Council Member of the Institute, he had brought his extensive knowledge and experience to bear and has provided inspirational leadership and direction for the success of the Institute.

His emergence as the President will enhance the Institute’s role as the leading corporate governance advocate, promoting sound ethical standards.”
Profile
Alhaji Tijjani Borodo, is the Founder and Principal Partner at Tijjani M. Borodo & Associates Law Firm and an accomplished Board Executive of repute.

He is a member of the Nigerian Bar Association, member of International Bar Association (IBA) and an Alumnus of the prestigious Ahmadu Bello University, Zaria and University of Essex, United Kingdom.

He is also an Independent Non-Executive Director at Cowry Asset Management Limited, Signature Bank Limited and Sanlam Life Insurance Nigeria Limited.

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.

Published

7 hours ago

July 9, 2026

OCHEFA

21 Views

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.

Business

Naira Exchange Rates Today Thursday, July 9

Published

10 hours ago

July 9, 2026

Charles Flames

20 Views

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

Business

JUST IN:, Naira Depreciates to N1,405/$ in Parallel Market

Published

1 day ago

July 8, 2026

Charles Flames

27 Views

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.