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The Nigerian currency, naira maintained a lean difference on Thursday October 2nd trading between the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as participants balanced improved dollar inflows against persistent demand pressures. Parallel market: ?1,490 per US$1

The official NFEM rate a volume-weighted figure derived from interbank trading and published by the authorities closed at about ?1,483 to the dollar, a slight shift from the previous session.

Traders noted that the official window remains sensitive to Central Bank of Nigeria (CBN) liquidity operations and order flows through the electronic matching system.

In the parallel market, the naira traded around ?1,490 to the dollar, leaving a spread of roughly ?7. This narrow gap contrasts with the wider double-digit spreads witnessed during periods of heightened market stress, suggesting partial convergence between the two segments. However, the parallel market continues to serve individuals and businesses unable to access dollars through official channels.

Market Drivers

Analysts linked the relative calm to moderate foreign currency inflows from diaspora remittances and import receipts, combined with CBN interventions that helped curb sharp intraday fluctuations.

Global factors also played a role, with the US dollar holding broadly steady in international markets following recent volatility.

Traders’ Perspective

Dealers observed that demand from importers, students, and travellers remains the major driver of parallel market volumes, while banks and authorised dealers handle most corporate flows through NFEM.

Analysts cautioned that the present convergence remains fragile, requiring sustained inflows, deeper FX liquidity, and consistent policy signals to stabilise the naira more permanently.

Outlook

Short-term forecasts suggest the dollar will likely trade within ?1,480-?1,495 in the official market and ?1,485-?1,500 in the parallel market over the coming days, provided dollar supply remains steady and demand does not surge unexpectedly.

Policymakers’ ability to manage measured interventions and improve liquidity will be central to maintaining exchange rate stability.

Galatasaray head coach, Okan Buruk, has shed light on why Nigerian striker Victor Osimhen was taken off during Tuesday night’s UEFA Champions League encounter against Liverpool in Instabul.

The Super Eagles forward was once again the hero for the Turkish giants as he netted the decisive goal in their narrow 1-0 triumph at RAMS Park. Osimhen, who has quickly become a fan favorite in Istanbul, showed his composure from the penalty spot in the 16th minute, calmly slotting home after Kerem Yilmaz was brought down in the box by Liverpool’s Dominik Szoboszlai. The goal eventually proved enough to hand Galatasaray all three points against Arne Slot’s men.

However, Osimhen’s substitution later in the match raised eyebrows among fans and sparked fears of yet another injury setback for the powerful forward, who has had his fair share of fitness troubles in recent years.

He was replaced by Argentine striker Mauro Icardi with 19 minutes left on the clock. Coach Buruk was quick to allay those fears, explaining that the change was purely precautionary.

According to him, Osimhen was not injured but was only suffering from fatigue.

‘Osimhen was feeling tired and had a cramp in his foot, but we don’t think it’s anything serious,’ Buruk told the club’s official website. ‘There’s no negative information coming in at this time, so we expect him to be fine.’

The 26-year-old forward, whose energy and movement troubled Liverpool’s defense all night, was later named Man of the Match for his outstanding performance.

His decisive strike not only lifted Galatasaray’s Champions League hopes but also reaffirmed his status as one of the most lethal strikers in Europe.

For Galatasaray supporters, Buruk’s words will come as a huge relief, ensuring that their star man remains available for the crucial fixtures ahead in both domestic and European competitions.

The National Emergency Management Agency (NEMA) has confirmed that 24 passengers were rescued and 4 bodies recovered after a boat mishap on the River Niger in Ibaji Local Government Area, Kogi State.

The agency, however, says 42 people remain missing.

In a post shared on X (formerly Twitter) on Thursday, NEMA stated the incident occurred on Tuesday, 30 September 2025, and involved a boat carrying approximately 80 passengers travelling from Onugwa community to Olushi village in Ibaji. Boat accidents remain a persistent and serious issue in Nigeria, particularly in riverine regions, where water transport is a primary means of movement. Overcrowded vessels, poorly maintained boats, and weak enforcement of safety regulations have claimed numerous lives over the years.

NEMA said: ‘The incident occurred at about 5:40 p.m. on Tuesday, when a boat with around 80 passengers capsized en route to Olushi village after departing from Onugwa community in Ibaji LGA.’ Upon receiving the distress report, NEMA Director General, Mrs Zubaida Umar, activated the Agency’s Abuja Operations Office, which immediately deployed personnel to support local rescue efforts. The operation highlights NEMA’s commitment to timely intervention and effective coordination with both state and community responders.

The Search and Rescue (SAR) operation led to the rescue of 24 passengers, while 14 bodies have been recovered. 42 individuals are still unaccounted for, and rescue operations are ongoing, with local divers supporting the mission. NEMA also stated that multiple agencies are involved in the response, including: The Kogi State Emergency Management Agency, the Local Emergency Management Committee (Ibaji), the Nigeria Security and Civil Defence Corps, the National Inland Waterways Authority, the Fire Service, the Nigerian Red Cross Society and local divers and community volunteers

NEMA officials, led by Mr Zakari Abubakar, Head of Abuja Operations Office, visited Chief Patrick Arome, traditional ruler of Onugwa, to commiserate with the community.

Earlier reports had suggested 26 fatalities, but NEMA’s updated figure stands at 14 confirmed deaths.

One of Africa’s leading music producers, songwriter, singer and entrepreneur, Temidayo Joseph Babatope, affectionately called Puffy Tee says Afrobeat music is hitting the right notes in Nigeria and the world.

Temidayo Joseph Babatope gave this verdict in his Nigeria @65 Independence Day message tagged ‘WE ARE PROVING OUR WORTH’.

He explained that Nigerian artists, musicians, songwriters, producers and other individuals in the entertainment industry are pulling the right strings and are singing from a similar hymm sheet. ‘We are halfway there, the journey to stardom for Afrobeats is still far.

Afrobeats is recognized globally, but only a few big time artists have made it to the top. But that’s not the desired height for Nigeria, the country is filled with talent, once these talents are harnessed properly we will be top 20s, 30s afrobeats artist in the world.

‘We are doing it right, when you look at the top 5 big artists or musicians on the continent we are there but we need to take control of the airwaves, that’s, having the top 20 or more,’ Puffy Tee stated in his Independence Day message.

He lamented that Nigerian artists are doing so much for the industry but financial returns leave much to be desired. ‘In the area of revenue, funds earned from Spotify, iTunes, Apple, etc, entertainment isn’t receiving the due funds.

The payback to artists for releasing songs is not at the right level, we are far behind in Nigeria, it doesn’t equate the hard work, put in by the artists, and the entire production team to release the songs.’

Temidayo Joseph Babatope, the man behind numerous hit songs including Yahooze, further explained that when the entertainment and showbiz world in Nigeria is more rewarding, more talented and gifted young ones will embrace its whole soul.

‘From the early 5Os down to our days, Nigeria – the Royal white and energetic Green has produced world class entertainers and we will continue to produce more as long as the environment and policies are right.’

Puffy Tee, therefore calls on all the three tiers of government in Nigeria to open up the entertainment industry space with well cut out policies programs, up to date infrastructural development and the much needed funding for the industry to thrive and compete favourably with Europe and America the hub of showbiz. ‘The private sector is doing their part, however, a lot more needs to come from them as well as from well meaning individuals with deep and fat pockets.

Tokenism form of support will only do more harm to us who toil night and day to make Nigerians sing and smile,’ Puffy Tee, a judge in the Next Afrobeat Stars Initiative said.

The entertainer and entrepreneur who has spent the last three decades in the industry, stressed that the government should keep a close mark on all digital music platforms and regulate them so that musicians and record label owners are not ripped off.

‘The idea is for it to be more rewarding, and until then we are not there yet. The real money is only flowing in a little circle, it’s not where it should be.’

The Ekiti state-born, music producer had some pleasant words for the initiators of Next Afrobeat Stars (NAS), ‘That is why platforms like NAS are there to do a little part of the work by discovering and grooming talents and sponsors like MTN back it up financially.’

Puffy Tee, also suggested that Nigeria should have multiple national and international annual Afrobeat Festivals, this he believes will enhance the art and culture industry.

‘We need more corporate bodies and individuals to help transform the music industry with events that host the continent and the globe at large.

We should be having afrobeats festivals across the country and on the continent, that brings together artists across Africa.’

‘I pray that we find our path and do not deviate from it, reggae was once a global sensation to the extent that a song was produced entitled ‘Nobody can stop reggae’, but now no one is after reggae again.

Now the story is different, it’s afrobeat and we need to sustain the momentum.’

The Edo State Command of the Nigeria Security and Civil Defence Corps (NSCDC) has been thrown into mourning following the sudden death of its Commandant, Gbenga Agun.

Agun reportedly slumped and died on Thursday during an award ceremony organised by the International Association of World Peace Advocates in Benin City, the state capital.

The Commandant, who had just been honoured at the event, collapsed moments after delivering his goodwill message. He was immediately rushed to the Military Hospital along Airport Road for urgent medical attention but was pronounced dead on arrival.

An eyewitness, who preferred not to be named, recounted the shocking incident: ‘The NSCDC Commandant arrived at the ceremony full of life. However, I observed he jerked intermittently in his voice while delivering his speech.

‘After his address, he returned to his seat and began to convulse. He was immediately rushed to the hospital, but sadly, he was pronounced dead on arrival. It was an unfortunate situation. I sympathise with his family and pray for the repose of his soul.’

As of the time of filing this report, the spokesman of the Edo State Command of the NSCDC, Efosa Ogbebor, had yet to issue an official response.

The Nasarawa State Government has disbursed N592 million as bursary to 16,756 students studying at various tertiary institutions in the country.

The state Gov. Abdullahi Sule disclosed this during official disbursement of the bursary on Thursday at Akwanga Local Government Area. He said that the gesture was part of his commitment to investing in the future and transforming the education sector.

Sule explained that education is the topmost priority of his administration, saying it was why education had 36 per cent allocation in the 2025 budget of the state.

The governor stressed that his administration had restored international scholarship in the state and is currently sponsoring 155 students studying different courses in various countries of the world.

He further disclosed that the state government is sponsoring nursing students as well as others in different universities across the country to build future manpower for the state. ‘We paid 2025 National Examination Council (NECO) registration fees for more than 24, 000 secondary students in public schools to ease the burden on their parents,’ he added.

Sule further directed the board handling the bursary to commence the process for the disbursement of the allowances for the 2025/2026 academic session. Earlier, Hajia Sa’Adatu Yahaya, the Executive Secretary, Nasarawa State Scholarship Board, expressed gratitude to the governor for the gesture.

The Executive Secretary explained that 25,000 students had applied for the bursary on the portal, but the board shortlisted 17,762 applicants after an online screening exercise.

She further said that the board had decided to conduct physical verification of the beneficiaries after the state government approved the payment for the number of beneficiaries screened through the online process.

‘After the physical verification, the board discovered that 2006 applicants were no longer students and we delisted them from the list of beneficiaries, bringing the number to 16,756. We, therefore, refunded the money meant for these ineligible students to the state government,’ she added.

The board secretary further explained that the candidates benefited from N30,000 to N90,000 as bursary allowances, depending on the course of study. She, therefore, promised that the board under her leadership would continue to maintain transparency and accountability in the discharge of their responsibility in line with the mandate given to them by the governor.

Responding on behalf of the beneficiaries, Ovey Abimiku, National President, Nasarawa State Students Association (NASSA), appreciated the governor for the gesture and promised that the beneficiaries would use the money to pursue their educational careers.

The 2025 Crest Africa Awards have recognized Fredrick Oladipupo, a senior software engineer and tech entrepreneur, with the Tech Innovation for Social Impact Award.

Announcing the award, the organisers noted that it highlights Fredick’s groundbreaking work in creating technology that bridges everyday challenges with practical, people-focused solutions. The organisers noted that Fredrick is the founder of BabySteps, a parenting support app that enables families to track their children’s developmental milestones through personalized guidance, expert insights, and engaging activities.

The statements by organizers of 2025 Crest Africa Awards reads: ‘Already gaining traction in Africa and the United Kingdom, BabySteps is transforming how parents approach child development, fostering healthier parent-child relationships in the process.

‘Complementing this work, he also launched PlatformAdvisor, a research-driven software review and comparison platform. By simplifying the process of selecting digital tools, PlatformAdvisor empowers African entrepreneurs and organizations to adopt the right technologies and drive business growth with confidence.

‘Fredrick’s contributions go beyond product innovation. As a volunteer and mentor with CodeYourFuture (CYF UK), a nonprofit dedicated to training refugees and disadvantaged individuals in software development, he equips aspiring developers with the skills, resilience, and confidence to build meaningful careers in tech. His mentorship underscores a deep commitment to using technology as a force for inclusion and empowerment.

‘For Fredrick, the purpose of technology is clear: ‘Technology is most powerful when it solves everyday problems and makes life better for people,’ he emphasizes. This philosophy fuels both his entrepreneurial ventures and his advocacy for accessible, socially impactful innovation.

‘As he accepts the Crest Africa Award, Fredrick remains focused on expanding BabySteps to reach more families globally, mentoring the next generation of developers, and advancing inclusive solutions that address pressing challenges across Africa and beyond.

‘The recognition of Fredrick Oladipupo at the 2025 Crest Africa Awards is not just a celebration of individual achievement-it is a testament to how innovation, when grounded in empathy and social responsibility, can reshape communities and improve lives across continents.’

The Oyo State Government has partnered with acclaimed filmmaker Kunle Afolayan’s KAP Film Academy on a 10-day intensive filmmaking residency programme, scheduled for 6 to 15 October 2025.

The residency, announced by Afolayan, will take place at the iconic KAP Film Village and Resort in Igbojaye, Oyo State – the production location of the Netflix blockbuster Aníkúlápó.

Themed ‘Emerging Stories’, the programme is designed to equip aspiring filmmakers from across Oyo State with comprehensive, hands-on training. Participants will be mentored by an A-list group of Nigerian cinema legends, including Kunle Afolayan, Tunde Kelani, and Joke Silva.

The curriculum will cover the entire filmmaking pipeline – from screenwriting and directing to cinematography, editing, and the business of film.

‘This residency is about more than just technical skills; it’s about instilling the passion and discipline required to become a successful storyteller,’ said Afolayan.

He added that ‘Emerging Stories’ are the heartbeat of African cinema’s future, and that his Academy’s mission is to provide the tools for new voices to be heard globally.

Speaking on the initiative, which has received the endorsement of the Oyo State Government as part of its strategy to foster talent and grow the creative economy, Governor Oluseyi Makinde said:

‘The programme reflects our commitment to empowering youth and positioning Oyo State as a premier hub for creativity and innovation.

A strategic partnership with KAP Academy will significantly boost our efforts towards creating meaningful opportunities for our young people and for the cultural economy of our state.’ Governor Makinde officially unveiled the KAP Film Village and Resort in April and has since committed to the reconstruction of the road leading to the world-class tourism destination.

The residency programme involves young participants from across the 33 local government areas of the state.

Commenting on local-level preparations, the Oyo State Commissioner for Local Government and Chieftaincy Affairs, Honourable Ademola Ojo, confirmed the excitement and readiness of selected participants from across the state.

Since its inception in 2021, the KAP Film and Television Academy has trained over 40,000 students across Africa, establishing itself as a leading institution for practical, world-class film education. About KAP Film and Television Academy

Founded in 2021 by filmmaker Kunle Afolayan, the KAP Film and Television Academy is dedicated to equipping a new generation of African filmmakers with practical, industry-standard skills.

Through courses, masterclasses, and residency programmes, the Academy has partnered with major global brands and diplomatic missions to train over 40,000 students, fostering talent and elevating standards in film and television production across the continent.

The Academy’s home – the KAP Film Village and Resort in Igbojaye, Oyo State – serves as a serene and inspiring hub for learning and production.

The Abuja-Kaduna Train Service (AKTS) resumed operations on Wednesday, after weeks of rigorous safety inspections, staff training, and operational checks by the Nigerian Railway Corporation (NRC).

The first train departed from Idu Station in Abuja, made its regular stop at Kubwa, and successfully arrived at Rigasa Station in Kaduna.

A return journey was also completed the same day, signaling the full restoration of services along the corridor. Managing Director and Chief Executive Officer of the NRC, Dr. Kayode Opeifa, joined passengers on the inaugural trip to demonstrate confidence in the system and reassure commuters of improved safety and reliability.

Speaking after arrival in Kaduna, Dr. Opeifa expressed gratitude to God for the successful restart and emphasised the strategic importance of rail transport in strengthening national unity and driving development. He credited President Bola Ahmed Tinubu’s administration for its significant investments in rail infrastructure and pledged to modernise NRC operations.

He announced plans to complete ongoing projects, rehabilitate serviceable rolling stock, expand routes, and enhance customer experience through the newly established Customer Service Department.

On security, Dr. Opeifa assured travellers that both visible security personnel and discreet safety measures have been deployed to protect passengers, staff, and assets.

Reaffirming his vision, the NRC boss said the corporation is determined to become a world-class passenger-friendly rail service provider, capable of contributing to Nigeria’s socio-economic growth through modern, safe, and efficient rail systems.

A recently intercepted container 277 cartons of drugs with more than 100,000 tablets falsely labeled as diclofenac but filled with anti-malaria drugs were among the unwholesome, substandard, falsified, and expired products worth N15 billion destroyed by NAFDAC at Moniya dumpsite in Ibadan, Oyo State on Wednesday.

The suspect linked to the shipment of the false diclofenac had been arrested and would face legal prosecution to serve as a deterrent to other illegal drug importers and distributors, NAFDAC Director-General, Prof. Mojisola Adeyeye said during the destruction of the unwholesome products.

Represented by Dr Martins Iluyomade, NAFDAC’s Director of Investigation and Enforcement, she said the the action aimed to eliminate the risk of such dangerous products re-entering the Nigerian market and harming public health. The NAFDAC boss added that explained that the destroyed items included counterfeit, expired, controlled, unregistered, and banned medicines and medical products.

She said other destroyed products included Analgin, Co-codamol, codeine-containing cough syrups, Tramadol, Oxytocin, and various expired vaccines, all of which posed significant health risks if consumed or circulated.

She revealed that the estimated street value of the destroyed products was more than N15 billion, underscoring the scale and seriousness of illegal pharmaceutical operations in Nigeria. ‘NAFDAC also discovered and confiscated a wide range of illegally manufactured cosmetics and packaging materials during a raid on a military barracks in Lagos, she further disclosed. Some of the destroyed items, she said, were seized during recent nationwide raids targeting black-market drug sellers, counterfeiters, and unlicensed medicine dealers operating without regulation or oversight.

Adeyeye urged community leaders, health professionals, religious figures, and journalists to educate the public on the dangers of patronising unlicensed drug sellers and unregistered pharmaceutical outlets.

She called for public participation in the fight against substandard products, urging Nigerians to report suspicious drug activities to help protect lives and strengthen the nation’s regulatory system.

According to her, public vigilance and collaboration remain crucial in ensuring that fake, dangerous, and illegal health products are kept off the streets and out of Nigerian homes.

She expressed gratitude to the Nigeria Customs Service (NCS) for handing more than 25 seized 40-foot containers of prohibited products, including Tramadol, Artesunate injections, and frozen poultry.

‘These prohibited products are part of what we are destroying today, and their removal marks another victory in the battle against violative and harmful substances,’ she said.

She also acknowledged the strong support from the Nigeria Police Force, Nigerian Army, DSS, Pharmacists Council of Nigeria (PCN), and other stakeholders for their efforts in supporting NAFDAC’s mission.