CBN interventions, inflows keep naira stable at ?1,483/$

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.

EPL: Arsenal tipped to win Premier League title

Former Premier League goalkeeper Shay Given has shared his thoughts on this season’s title race, naming Arsenal as the club best positioned to lift the trophy in May 2026.

Given, who enjoyed a long career in England’s top flight and also represented Manchester City, believes that while Liverpool and City will remain in contention, it is Arsenal who currently boast the most complete squad.

‘This season feels like a genuine three-horse race,’ Given told Ladbrokes.

‘Liverpool are top right now, Arsenal are right on their heels, and Manchester Citydespite being five points off are never a team you can rule out.

I know City are down in seventh at the moment, but with the players at Pep Guardiola’s disposal, they can quickly close the gap.’

Liverpool are currently leading the league table, holding a slender two-point advantage over second-placed Arsenal. Jrgen Klopp’s side have been praised for their intensity and consistency, though they, like Arsenal, have already suffered one or two setbacks this campaign.

Manchester City, meanwhile, find themselves unusually placed outside the top four but still very much in the picture. Given highlighted Arsenal’s growth under Mikel Arteta, stressing the Gunners’ depth, balance, and hunger to finally end their two-decade wait for a league crown.

‘If I sit back and look at every squad in the cold light of day, Arsenal appear to be the strongest right now,’ he continued.

‘They’ve built a group with quality in every position-defensively solid, creative in midfield, and dangerous up front. For me, they’re the team to beat this season.’

However, the former Republic of Ireland international was quick to remind fans that Manchester City’s pedigree cannot be dismissed so early in the campaign.

‘City have won the league in tough circumstances before.

They thrive under pressure and have players who can change games in an instant. While Arsenal and Liverpool are flying high, you can never rule out City.

Come the business end of the season, I expect them to be right in the mix,’ he added.

As things stand, the Premier League race is shaping up to be one of the most competitive in years.

With Liverpool setting the early pace, Arsenal growing in confidence, and City lurking in the background, football fans could be in for a thrilling battle for the title that may go right down to the wire.

Faith disqualified from BBNaija after violent clash with Sultana

In a dramatic turn during the ongoing Big Brother Naija Season 10, housemate Faith Adewale has been abruptly disqualified from the competition following a physical confrontation with fellow contestant Sultana, marking one of the show’s most contentious evictions to date.

The official announcement came directly from the show’s organizers, stating: ‘For engaging in physical violence with Sultana over a disagreement, Faith has been disqualified from the competition and is to leave the house immediately.’

The incident, which unfolded earlier today inside the iconic house, violated the show’s strict zero-tolerance policy on physical aggression, as outlined in Section 15, Subsection 1 of the rulebook, which mandates immediate removal for such offenses.

Eyewitness accounts from live feeds and fan discussions suggest the clash escalated from a heated verbal disagreement over household chores, culminating in Faith allegedly shoving or dragging a bucket toward Sultana, leading to physical contact.

While exact details remain under wraps pending a full review, the altercation has ignited a firestorm of debate among viewers, with many questioning the fairness of the ruling. Big Brother Naija, a flagship reality TV franchise produced by M-Net and MultiChoice, has long been a cultural phenomenon in Nigeria and across Africa, drawing millions of viewers each season for its mix of drama, alliances, and unfiltered human interactions.

Season 10, themed around high-stakes competitions and interpersonal dynamics, had already narrowed down to a top 10 lineup that included Faith, Sultana, Dede, Imisi, Isabella, Jason Jae, Kaybobo, Kola, Koyin, and Mensan-making Faith’s exit a pivotal blow to the remaining field.

Fan reactions poured in swiftly on social media, reflecting a polarized response. Some praised Sultana’s composure during the incident, with one viewer noting, ‘Sultana needs to be applauded for her level of emotional intelligence. Many ladies will break Faith’s head after the fall and have both of them disqualified. I rate her patience .’

Others decried perceived inconsistencies in enforcement, pointing to prior unreported or lightly punished incidents like Sultana allegedly tampering with another housemate’s belongings and Zita receiving only strikes for a similar assault.

This disqualification echoes past controversies in the show’s history, such as the 2019 eviction of Tuoyo for infidelity allegations and the 2020 strike against Lucy for abusive language-reminders that Big Brother’s rules prioritize a safe environment amid the high-pressure confines of the house.

Troops break up bandits’ gathering in Taraba

Troops of 6 Brigade Nigerian Army/ Sector 3, Operation Whirl Stroke (OPWS), have successfully foiled a terrorist attack and neutralised two suspected terrorists in Taraba.

This is contained in a statement on Wednesday by Lt. Umar Muhammad, Acting Assistant Director, Army Public Relations, 6 Brigade Nigerian Army, Jalingo.

‘Acting on credible intelligence, troops on October 1, 2025 advanced to Tor-Ikyeghgba village where bandits were reported to be converging.

‘On arrival at the general area, the troops made contact with the terrorists along the powerline axis and immediately engaged them with superior firepower, resulting in the neutralisation of two.

‘During the operation, the following items were recovered; one locally fabricated pistol, two dane guns, three rounds of 7.62 mm special ammunition, one Baofeng radio, one motorcycle and other items,’ it stated.

He quoted Brig. Gen. Kingsley Uwa, Commander of the brigade as commending the troops for their swift response, resilience, and professionalism.

Muhammad also quoted the Commander, as urging the troops to maintain the momentum, assuring residents of the state that the brigade remained fully committed to ensuring their safety.

He therefore, called on members of the public to continue to support the ongoing operation ‘Lafiya na kowa’ by providing timely and credible information that would aid in the fight against criminality.

Armed gang invades ex-Ogun LG Chair’s residence, escape with car, money

Suspected armed robbers stormed the residence of the former chairman of Ijebu-Ode Local Government, Ogun State, Alhaji Emilola Gazal, in the early hours of Thursday, carting away valuables items, including cars and money.

The incident reportedly occurred around 2am.

According to reports, the robbers forced the former chairman to open his banking application and transfer funds before fleeing with his silver-coloured vehicle and other possessions.

Gazal who is also the publisher of The Roots Magazine confirmed the incident to journalists in a phone call.

He said the armed robbers who are three in number broke into his house at Ijebu Ode GRA at about 2am. ‘The three armed gang broke into my residence at Ijebu Ode GRA at about 2am.

‘They collected all the cash with me after which they also forced me to open my bank apps on my phone and forced me to transfer everything there to an account submitted by them, they left N5000 in my account.

‘They made away with my wife’s trinkets and with my ash colour car, they actually demanded that they will be going away with my car. I am just going to report the incident to the police at Igbeba and Obalende, Ijebu Ode’.

A neighbour of former Ogun LG chairman described the ordeal as terrifying, noting that the assailants carried guns and operated with precision.

However, it was gathered that Ijebu-Ode Police Area Command, Igbeba, has been alerted and investigations are ongoing.

Further details are expected as security operatives intensify efforts to track down the suspects.

ADC joins NUPENG, PENGASSAN in rejecting NNPC asset sale plan

The African Democratic Congress (ADC) has strongly opposed the Federal Government’s plan to sell Nigeria’s oil assets.

Speaking at a press conference, the party’s national publicity secretary, Malam Bolaji Abdullahi, said the move is a dangerous attack on the country’s energy sector and must be stopped. He reminded Nigerians that on September 22, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) wrote to President Tinubu rejecting the planned sale of NNPC Limited’s shares in its most profitable oil ventures.

Abdullahi said the ADC agrees with the unions, warning that the sale will weaken Nigeria’s control over its oil resources and transfer them into the hands of a few wealthy, politically-connected individuals.

According to him, the proposed changes to the Petroleum Industry Act are part of a deliberate plan to strip NNPC Limited of its best assets, remove proper oversight, and sell off national wealth cheaply.

He stressed that selling the oil assets would: Reduce Nigeria’s ability to control fuel supply and respond to global oil price changes.

Deprive the government of vital revenue used to fund schools, hospitals, and infrastructure.

Leave NNPC Limited in debt and risk the loss of thousands of jobs.

Set a dangerous precedent of turning public property into private wealth.

‘This is not just a policy issue,’ Abdullahi said. ‘It is a battle for the future of Nigeria’s economy and for generations yet to come.’

The ADC urged civil society, labour unions, and young Nigerians to resist the move and demand accountability.

The party also called on the National Assembly to reject any amendments to the Petroleum Industry Act that favour private interests over public good.

‘At 65 years of independence, Nigeria must put the people first, not politics or profit,’ Abdullahi added. ‘History must remember us as a people who stood up and said no to the selling of our national wealth.’

21-year-old TV presenter, TikTok star dies after epileptic seizure

Tragedy struck the social media as 21-year-old Jennifer Nicole Rivas, a rising TV presenter and TikTok star, passed away unexpectedly.

Rivas, a journalism student, worked as a presenter on Honduran channel CHTV and had amassed a strong online following, with 100,000 TikTok followers and 16,000 Instagram fans.

She was also a popular comedy actress, collaborating with the group Los Venados 504.

The young media personality reportedly suffered a suspected epileptic seizure at her home in Tegucigalpa. Authorities confirmed she had an underlying medical condition and stated her death was from natural causes, with no autopsy conducted.

Just hours before her passing, Rivas shared a photo on what appeared to be a pickleball court with the caption: ‘Getting ready.’

Benue monarch demands withdrawal of military from Kwande

The monarch and Chairman of Kwande Local Government, Chief Engr. Timothy Ahile (Ter Kwande) has asked that the Nigerian army troops in the Local government area be withdrawn.

This demand, came shortly after mourners were slaughtered in Jato-Aka. The monarch paid a visit to the area, to witness the tragedy and condemn the killings.

He regarded the act as unprofessional, while requesting that the soldiers deployed to the area be withdrawn. ‘I have reported this ugly development to both Tor Tiv and Tor Kwande. The Nigerian Army, who have turned against us over the years, must leave,’ he stated.

The monarch also requested that the soldiers be relaced with police officers.

Hon. Mrs. Iortsor, also addressed the residents, urging them to remain calm and maintain peace and order while they wait for the result of the legal process.

Residents of Abuja neighbourhood protest conversion of green areas

The Wuse Zone 6 Neighbourhood Residents Association in Abuja on Thursday called on President Bola Tinubu and other stakeholders to help halt the ongoing clearing of green areas for new construction,

The Protesting residents march to the Department of Development Control on Thursday.

They noted that the development has become a grave health and environmental challenge.

The Chairman of the association, Alhaji Ayinde Soaga, said that the Abuja Master Plan deliberately preserved green areas to protect underground utility corridors and spaces for recreation.

He said residents were concerned because many of the reserved sites were now being fenced, cleared and built upon in defiance of planning regulations, putting the entire community in danger.

‘We urge the Federal Capital Territory Administration (FCTA), and the Development Control Authority to urgently intervene. ‘ The Abuja Master Plan must be enforced to protect both the environment and critical underground infrastructure.

‘Almost all the designated areas in Wuse Zone 6 have been sold and cleared for new construction, sparking fears of looming environmental and infrastructural disasters for residents.

‘The most disturbing of these sites include the Julius Berger Park by Berger Junction, behind the police barracks.

‘ This has already been built up as a housing estate by the Nigeria Police Force Cooperative Society.

‘Gilmore Gardens on Rabat Street is being prepared for the construction of a housing estate.

‘ The garden on Tunis-Bissau Junction, which is being converted into a club and other facilities with very strong structures, is noteworthy,’ he said.

Soaga explained that the areas now under development were not just ordinary open spaces, but lying on underground sewage and water pipelines.

He said the ongoing construction in Wuse Zone 6 could turn one of Abuja’s most planned neighbourhoods into a hotbed of flooding, pollution and infrastructure failure.

‘Already, residents of Wuse Zone 6 are facing the environmental menace of burst water pipes, blocked sewer lines and water and environmental contamination.

‘ There is hardly any street that is not having sewer line bleeding onto the streets, making them very smelly and unsightly.

‘The outbreak of gastrointestinal and other waterborne diseases of huge proportions is a disaster waiting to happen in the neighbourhood.

‘ These challenges have been associated with the built-up estate on former Julius Berger Park in the area,’ he said.

He also said the loss of green spaces would worsen flooding, increase heat and reduce air quality in the neighbourhood. Soaga, a retired broadcaster, said trees and open spaces that once absorbed rainwater and filtered air were being replaced with concrete and steel, leaving residents vulnerable.

The chairman said that with more buildings springing up in Zone 6 outside the scope of the original master plan of the city, roads, drainage systems and power supply were also expected to come under strain from overuse.

Also speaking, Mr Ernest Frank, one of the members of the association, said he had lived in Zone 6 since 1985, adding that basic infrastructure was already overstretched.

‘Zone 6 is overtly chocked and we are bleeding.

‘ This is a very quiet protest to halt the bleeding so that our sewer lines that are under this particular place, flowing all the way to Zone 7, are not blocked.

‘We are pleading with the FCT Minister, Nyesome Wike; we are also asking President Bola Tinubu to please intervene,’ he said.

The Youth Leader of Zone 6, Mr Emmanuel Adamu, said residents were gravely concerned with the conversion of green areas to estates.

‘All of a sudden, these lands are now being converted into a housing project.

‘The traffic situation is not too good and it is going to get worse with more houses.

‘ Again, where are the kids going to play?

‘We want the FCT minister to intervene because we know he’s a performing minister and he listens.

‘ We want our president, Bola Tinubu, to intervene and bring a halt to this development.

‘ Let the green areas remain green,’he said.

Another resident, Hamza Madaki-Tayyub, said members of the association were taken aback when trees were being felled in the area.

‘We were so disturbed and annoyed; we didn’t even know what to do.

‘ We began to make contacts, and then we had meetings several times. We were very concerned.

‘Some of us who are members of professional bodies reached out to them.

‘ The Nigerian Institute of Town Planners (NITP) has come out and made their position known,’ he said.

He urged NITP to rise up to the occasion to protect the environment and fight for the sanctity of the master plan.

Responding, the Head of Administration, Development Control, Oche Obe, promised to relay the complaints of the protesters to the Director of Department of Development Control, Mukhtar Galadima.

JUST IN: Rivers emergency proclamation suit against Tinubu dismissed

The Federal High Court in Abuja, has dismissed the suit filed against President Bola Ahmed Tinubu, over the proclamation of a state of emergency in Rivers state,

The suit which was filed on the 18th of March, was dismissed on Thursday, by Justice James Omotosho in the Country’s capital. The Federal Court, while ruling in favor of President Tinubu, stated that the state of emergency was declared to prevent a breakdown of law and order. Justice Omotosho also explained that the claims made against the president were frivolous and baseless.