Author: Daily Post Nigeria

  • Dollar to Naira exchange rate Today, April 16, 2026: Nigerian currency extends gain

    Dollar to Naira exchange rate Today, April 16, 2026: Nigerian currency extends gain

    The Naira on Thursday extended its gain against the dollar at the official foreign exchange market.

    The Central Bank of Nigeria’s data showed that the Naira further strengthened to N1,342.30 per dollar on Thursday, up from N1,343.74 traded on Wednesday.

    This means that the local currency recorded a slight N1.4 appreciation against the dollar.

    From Monday to Thursday this week, the naira has gained N13.88 against the dollar at the official foreign exchange market.

    Meanwhile, at the black market, the Naira stood at N1,410 per dollar on Thursday, the same rate as traded the previous day.

    The development comes amid the continued decline in the country’s external reserves, which dropped to $48.69 billion as of 14th April, 2026, according to the apex bank data.

    Dollar to Naira exchange rate Today, April 16, 2026: Nigerian currency extends gain

  • ‘I was a rubber stamp’ — Diezani tells UK court

    ‘I was a rubber stamp’ — Diezani tells UK court

    Former Nigerian Petroleum Minister Diezani Alison-Madueke told a UK court that her role in approving oil contracts was largely routine, stating that major decisions were already taken before documents reached her desk.

    Speaking at Southwark Crown Court in London, she explained that the structure of Nigeria’s oil sector meant she had limited direct control, as key operations were handled by the leadership of the Nigerian National Petroleum Corporation (NNPC).

    “The system was already in motion before files came to me,” she said, adding that the size and complexity of the industry made it difficult for a minister to oversee everything directly.

    She said she rarely declined contract approvals because they had already passed through detailed technical and regulatory checks.
    “I was, in many instances, a rubber stamp in the process,” she said.

    Diezani also recounted a 2014 incident in which she discovered a questionable crude oil deal allegedly linked to businessman Igho Sanomi. She said the matter came to light following a whistleblower report, prompting her to cancel the arrangement.

    However, she told the court that powerful individuals opposed her decision and escalated complaints to then President Goodluck Jonathan.

    On allegations that $20 billion in oil revenue went missing, she disagreed with former Central Bank Governor Lamido Sanusi, insisting the reports were inaccurate.

    “There were no missing funds as widely reported,” she said, explaining that audits and legislative reviews later showed the money was tied to subsidy payments and operational costs.

    She acknowledged serious challenges in the fuel subsidy system, including multiple claims by some marketers, but said reforms were introduced to reduce fraud.

    According to her, these efforts came with risks. She said she faced security threats, including the kidnapping of family members, which she linked to her attempts to challenge powerful interests in the sector.

    She also said politicians and business figures frequently pressured her office for preferential treatment in oil allocations.
    “I declined requests that did not follow due process,” she said.

    Addressing questions about her personal finances, Diezani said she used Nigerian bank cards even during foreign trips, in line with rules preventing public officials from holding foreign accounts.

    She added that the cards sometimes failed abroad, forcing others to temporarily cover expenses.

    The court also examined records of her official trips between 2011 and 2015.
    She said she usually travelled with about 30 officials, including aides, security personnel, and protocol staff.
    “All movements were documented and archived in ministry records,” she said, noting that both commercial and chartered flights were used depending on official requirements.

    Despite the allegations against her, Diezani insisted her time in office focused on increasing local participation in the oil sector and improving transparency, saying she has been unfairly portrayed.

    She is currently on trial alongside Olatimbo Ayinde and Doye Agama on five counts related to bribery.

    All the defendants have pleaded not guilty, and the case is ongoing in London.

    ‘I was a rubber stamp’ — Diezani tells UK court

  • Tinubu mocks Atiku over role in Nigeria’s privatisation program

    Tinubu mocks Atiku over role in Nigeria’s privatisation program

    President Bola Tinubu has criticized opposition figures over their past roles in Nigeria’s economic reforms, particularly targeting former Vice President Atiku Abubakar’s tenure as chairman of the National Council on Privatisation, NCP.

    Speaking at a Renewed Hope Agenda meeting at the Presidential Villa in Abuja on Thursday, Tinubu criticized the privatisation programme undertaken by the Olusegun Obasanjo administration, in which Atiku played a key role

    “The head Atiku was the chairman of the Privatisation Council of Nigeria at one time,” he observed.

    Tinubu questioned the handling of key industrial assets such as the Ajaokuta Steel Company and other steel projects.

    “They privatized the steel industry in Delta, is it working today? They privatized Ajaokuta, is it working today? Go on the list. They privatized another man’s political party, that one says no. Their job is done.”

    DAILY POST reports that Atiku served as Chairman of the National Council on Privatisation, the policy-making body overseeing Nigeria’s privatization program under the Bureau of Public Enterprises, BPE.

    Tinubu mocks Atiku over role in Nigeria’s privatisation program

  • 2027: Austin Okai defends ADC convention, slams INEC

    2027: Austin Okai defends ADC convention, slams INEC

    “Up till now, ADC has not been served any court order stopping the national convention. We gave INEC…”

  • Why I dumped APC for PDP — Madumere

    Why I dumped APC for PDP — Madumere

    The former Deputy Governor of Imo State, Prince Eze Madumere, has explained that his decision to leave the All Progressives Congress (APC) for the Peoples Democratic Party (PDP) was driven by his ambition to win election and provide people-oriented representation at the National Assembly. Madumere, who is contesting the Owerri Senatorial seat under the PDP, […]

  • 2027: I am Jagaban, they can’t scare me — Tinubu boasts

    2027: I am Jagaban, they can’t scare me — Tinubu boasts

    President Bola Tinubu has declared that no amount of pressure or intimidation will distract him from pursuing his vision for Nigeria.

    Tinubu made the assertion while addressing the 36 state coordinators of the Renewed Hope Ambassadors (RHA) during a meeting at the Presidential Villa, Abuja.

    He charged them to uphold integrity and work collectively toward rebuilding the country.

    Tinubu emphasized the importance of inspiring hope among Nigerians, particularly among leaders and supporters entrusted with advancing his administration’s agenda.

    “You must give them that hope, but try as much as possible, men and women of integrity that are here in this room, to build a Nigeria,” he said.

    Dismissing any notion of fear or retreat, the President stated, “Me? They want to scare me off? It’s a lie. I am Jagaban. I have been through this path before, and if I have to come back over and over again, I will do the same thing.”

    He further stressed that Nigeria remains the best place for its citizens, urging collective responsibility in shaping the nation’s future.

    “There’s no better place than your own country, and no one can build it except you,” he added.

    2027: I am Jagaban, they can’t scare me — Tinubu boasts

  • Lagos 2027: After Hamzat, Jandor meets GAC members ahead of primaries

    Lagos 2027: After Hamzat, Jandor meets GAC members ahead of primaries

    A governorship aspirant on the platform of the All Progressives Congress, APC, in Lagos State, Abdul-Azeez Olajide Adediran, popularly known as Jandor, has intensified his political engagements with key stakeholders within the party as preparations gather pace for the forthcoming primaries.

    As part of his recent consultations, Jandor met with members of the influential Governance Advisory Council, GAC, including its chairman, Tajudeen Olusi.

    He also held separate meetings with prominent party figures such as Cardinal James Omolaja Odumbaku, former Speaker of the Lagos State House of Assembly, Sabit Adeyemi Ikuforiji, and party chieftain Monsuru Owolabi Batola, popularly known as Alao Seniyan.

    In a statement issued by his spokesperson, Gbenga Ogunleye, the engagements were described as part of a strategic effort to deepen consultations, foster consensus, and strengthen cohesion across party structures.

    The statement further disclosed that the aspirant has directed leaders within his political network across the state’s 377 wards and 13,326 polling units to commence grassroots mobilisation aimed at rallying support ahead of the primaries.

    Adediran was said to be adopting a dual consultation approach, combining high-level engagements with party leaders and direct outreach to rank-and-file members, in a bid to reinforce unity and broaden his support base.

    Coordinators within his structure have also been mobilised to intensify engagement with party faithful at the ward and polling unit levels as part of preparations for the contest.

    The aspirant reiterated his commitment to party discipline and unity, acknowledging the pivotal role of the GAC in shaping the direction of the party in Lagos State.

    He also expressed readiness to align with decisions reached by the party leadership and to work collaboratively with all stakeholders as the political process unfolds.

    The latest engagement comes just days after the Deputy Governor of Lagos State, Obafemi Hamzat, also met with members of the GAC, a development that has further intensified political consultations and heightened interest in the evolving dynamics ahead of the party’s governorship primaries.

    Lagos 2027: After Hamzat, Jandor meets GAC members ahead of primaries

  • MTN suspends airtime, data advance service over FCCPC regulations

    MTN suspends airtime, data advance service over FCCPC regulations

    MTN Nigeria has suspended its airtime and data advance service, Xtratime, following new compliance requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC). The company disclosed the development in a filing to the Nigerian Exchange Limited on Thursday, explaining that the suspension is part of efforts to align with the FCCPC’s Digital, Electronic, […]

  • Over 60 fragmented taxlaws streamlined into coherent framework, enabling efficiency — NRS Chairman

    Over 60 fragmented taxlaws streamlined into coherent framework, enabling efficiency — NRS Chairman

    The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has disclosed that ongoing reforms have streamlined more than 60 tax laws into a simplified framework aimed at improving efficiency in tax administration and collection. Speaking on Thursday in Abuja at the inauguration of the Service’s Head Office, Adedeji said Nigeria’s tax system […]

  • DJ Cuppy opens up on her relationship preferences

    DJ Cuppy opens up on her relationship preferences

    Nigerian disc jockey, Florence Ifeoluwa Otedola, popularly known as DJ Cuppy, has shared insights into her evolving relationship preferences, stating that she now favours a low-key partner. DJ Cuppy, who is the daughter of Nigerian billionaire businessman, Femi Otedola, made the disclosure during an appearance on The Zeze Millz Show, where she explained that her […]