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Defection Galore As APC Receives No Less Than 5000 LP, APGA, PDP Members In Enugu

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Minister of Innovation Science and Technology Chief Uche Nnaji addressing the defectors at Aku Town in Igbo-Etiti LGA Enugu State

Enugu -The Minister of Innovation, Science and Technology, Chief Uche Nnaji, yesterday led other party leaders to receive no less than 5000 defectors into the Enugu State Chapter of the All Progressives Congress, APC.

The defection took place during a rally at Aku town in Igbo-Etiti local government area of the state.

Nnaji was accompanied by the state Chairman of APC, Chief Ugochukwu Agballah; the member representing Udi-Ezeagu federal constituency in the House of Representatives, Hon Sunday Umeha; the Director General of Raw Materials Research and Development Council, Prof Nnanyelugo Ike Muonso and other party stalwarts.

Speaking at the event the Minister stated that the massive defection into APC across the state shows that the people are beginning to acknowledge the projects being executed by the President Bola Tinubu administration in the state, even as he expressed disappointment at what he called misapplication of resources and high taxation in Enugu state.

The Minister said that high taxation has worsened economic hardship under the watch of Governor Peter Mbah in the state.

He said, “Today in Enugu we are facing a major economic quagmire, today in Enugu we are number two from bottom as the most expensive city in Nigeria. Enugu is a civil service town but still we are the second most expensive city in Nigeria.

“What is the problem? It’s because of the type of tax the government has imposed on our people. A hawker, small girls selling ordinary sachet water, pays between N300 and N500 every day. If you calculate it, he or she is paying over N100, 000 a year.

“If that money is being properly utilized, our teeming young men, the youths and women will have free education, they will have good health facilities for our children and they will have good infrastructure for the state. Today we don’t have all these because our taxes are not being applied where it should be applied.”

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While commending Engr Celestine Attah, a former House of Assembly candidate under the All Progressives Grand Alliance (APGA) for leading members of APGA, Labour Party (LP) and the Peoples Democratic (PDP) in the local government into APC, Chief Nnaji promised more employment for young people from the area and more federal infrastructure in the state.

The Minister said that APC in the state has been repositioned to take over the government of Enugu state in 2027 and appealed to the people of Enugu state to support the party as well as the re-election of President Bola Tinubu in order to attract more federal appointments and infrastructure to the state.

“The coming election will not be like the previous one because right now we have a party; before we didn’t have a party, APC before was a mercantile party, a party they use for trading in Enugu state, they use it to trade with PDP. But now all the moles who were trading with the party have been shown the way out.”

Minister of Innovation Science and Technology Chief Uche Nnaji (Middle) at a rally to receive defectors into APC at Aku in Igbo-Etiti LGA of Enugu state

In his remarks, the state chairman of APC, Chief Agballah expressed gratitude to President Tinubu for the ongoing reconstruction of Ninth Mile – Opi – Markudi road which is also being made a dual carriage way, as well as other federal projects in the state.

He said that for many years under the governance of the party Igbo-Etiti people supported for 26 years, the entire local government was completely inaccessible due to the complete collapse of road infrastructure into the LGA; not until the coming of the government of Bola Tinubu’s APC that they never voted for.

Decamped to APC

The party chairman said the president has given the people of the area two brand new international standard dual carriage express road from Ninth mile to Opi Nsukka and another federal road from same Ninth mile to Makurdi.

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He said, “Our plan in Enugu, we are very intentional in our politics. APC is a party for serious minded ideological change oriented progressives that want to change the status-quo in Enugu because for 26 years PDP leadership has held our people hostage. Enugu, which used to be the number one state in South Eastern Nigeria, is now coming last.

“It’s because of one party system that PDP has been giving us poor governance. So we are going to give Enugu the best, and bring about a creative high performing governance and that’s why we want competitive democracy in Enugu.

“We would want those in govt to promote their party while those in opposition to bring out credible candidates that will vigorously challenge them so that anyone who finds himself in power after 2027 will no longer take the people of Enugu state for granted. We want to restore the dreams of the founding fathers of wawa land.

“When they created Enugu it was first among equals. Enugu was more developed than all states in the entire South East and also South South states of Rivers, Cross River and Akwa Ibom. Enugu was also more developed than Delta state, Enugu was competing with Ibadan, Kaduna and Lagos states which were regional capitals.”

Hon Umeha while speaking for the APC House of Rep caucus members of Enugu state predicted that APC will take over the Lion Building, Enugu state Government House in 2027.

“For the record, I’m speaking here for myself and on behalf of other members of APC House of Representative caucus of Enugu state made up of myself, my brother Prof Paul Nnamchi and Hon Chimobi Atu. Let me emphasize that APC in Enugu state is poised to take the lead come 2027. I have said it and I’m reiterating it again, how it will work I don’t know but I can assure you that come 2027 we will take over the Lion Building.

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“The leadership of Chief Uche Nnaji in Enugu state is not only inspiring but result oriented. We are determined to make sure that Enugu state is connected 100 percent to the centre. Enugu is the headquarters of South Eastern Nigeria and we cannot play second fiddle.”

Speaking on behalf of other defectors, Engr. Celestine Attah said he was attracted by President Tinubu’s decision to appoint Enugu man the Chief of Naval Staff, establishment of Naval College in the state, construction of a Naval base at Uzo-Uwani, appointment of Enugu man as Vice Chancellor of University of Nigeria, Nsukka (UNN) and the construction of 9th Mile-Opi road.

“What is happening today is the foundation of our contribution to making APC win Enugu state and the massive rally is for Mr. President and for APC to take over the government of Enugu state come 2027,” he said.

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Tinubu, Obi, Sowore Sign 2027 Peace Accord

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Presidential candidates and national chairmen of major political parties on Tuesday signed the first National Peace Accord ahead of the 2027 general elections in Abuja.

The accord was signed on behalf of President Bola Tinubu by the Secretary to the Government of the Federation, George Akume, alongside the All Progressives Congress National Chairman, Nentawe Yilwatda.

The presidential candidate of the Nigeria Democratic Congress, Peter Obi, and Omoyele Sowore of the African Action Congress signed the accord in person.

Other parties that participated in the signing ceremony, organised by the National Peace Committee, included the Labour Party, Democratic Leadership Alliance, National Democratic Party, National Rescue Movement, Social Democratic Party, Youth Party, Young Progressives Party and Zenith Labour Party, among others.

The ceremony was held at the International Conference Centre in Abuja.

President Bola Tinubu was represented by the Secretary to the Government of the Federation, George Akume. CREDIT: Channels TV

Video footage of the event aired on Channels TV shows party leaders and presidential candidates approaching the table one after another to sign the accord.

An MC at the event described the moment as one in which parties and candidates affirm that, despite disagreements on how Nigeria should be governed, “this great nation must move forward in peace and harmony.”

He stressed that the signing is “not a mere ceremony” or simply “putting ink on paper,” but a substantive commitment.

Sowore signs the peace Accord. CREDIT: Channels TV

The National Peace Committee, chaired by former Head of State, General Abdulsalami Abubakar (retd.), has facilitated similar accords in previous election cycles to promote democratic stability and reduce political tensions.

However, speaking to journalists on the sidelines of the ceremony, Sowore dismissed the accord as a “ritual”, citing deaths recorded during the August 15 governorship election in Osun State.

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“I don’t have faith in it. I’m bringing faith to the system. Those are two different things,” Sowore said.

He alleged that people who signed previous peace accords in Osun State later engaged in violence.

“The people who signed the peace accord in Osun State killed 50 people after they signed the peace accord.

“So if you meant anything at all, why would you sign the peace accord and then go and carry a gun after that and kill 50 people? What will you be expecting after signing today’s peace accord? We conclude the ritual and move on to campaigning.”

Sowore called for a “Justice Accord” that would provide sanctions for candidates or parties that violate the commitments contained in the peace agreement.

Similarly, Obi called for peaceful and issue-based campaigns, saying politicians seeking public office must conduct themselves in a manner worthy of the positions they aspire to occupy.

“We have a peaceful, issue-based campaign. We must, for the sake of this country, ensure that our conduct reflects the office we’re seeking, our behaviour. We must do the right thing and campaign on issues that Nigerians are going through today,” Obi said.

The former Anambra State governor also called for the remembrance of those who lost their lives during the recent Osun governorship election.

“Let us not forget those who died in ensuring that the election in Osun was achieved, the way it went. We should visit them, console their families, remain prayerful and conduct ourselves in a way that in our democracy, nobody needs to die for an election. It is painful, and I wish it never happens again,” he added.

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Tuesday’s ceremony marked the first signing of the National Peace Accord by political parties and candidates contesting the 2027 general election under the chairmanship of Abubakar.

The programme featured goodwill messages from the Chairman of the Independent National Electoral Commission, Professor Joash Amupitan; the Inspector-General of Police, Olatunji Disu; the European Union Ambassador to Nigeria, Gautier Mignot; and the Ambassador of Switzerland to Nigeria, Patrick Egloff.

The ceremony also featured the formal signing by National Assembly and governorship candidates, party chairmen, presidential candidates, the INEC chairman and the Inspector-General of Police.

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How Police Tracked Down 8 Escaped Delta Suspects

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Operatives of the Delta State Police Command have re-arrested eight suspects after they allegedly escaped lawful custody from an unnamed police facility in the Ughelli area of the state.

The suspects are among a total of 11, according to a statement issued by the Force Public Relations Officer, Ani Iniedu, at the Force Headquarters in Abuja on Tuesday.

This was part of the 24-hour operational successes of the Nigeria Police Force across the country.

He noted that the arrest of the eight suspects was achieved following intelligence-led efforts by the security operatives, adding that the case is undergoing investigation at the State Criminal Investigation Department in Asaba, Delta State capital.

“Following the escape of 11 suspects from lawful custody at a police facility in Ughelli, concerted police efforts led to the re-arrest of eight suspects.  Status: SCID Asaba Investigating,” the statement partly read.

It also added that on Sunday, August 16, 2026, operatives arrested a suspect in connection with the “illegal disposal of oil-contaminated sludge” along the Ughelli/Iyede Expressway, with the case presently undergoing investigation at SCID Asaba.

“The suspect was arrested at the scene.  One truck allegedly used in the illegal activity was recovered,” he added.

In Anambra State, on Monday, August 17, 2026, officers, acting on credible intelligence, arrested a 49-year-old male suspect at Obosi, Idemili North Local Government Area of the state.

“One pump-action gun and 50 live cartridges were recovered from his possession,” the FPRO said, adding that investigations are underway at SCID Awka.

Another operational success was recorded in Kogi State where operatives were able to secure the release of 12 abducted victims who reunited with their families on Monday, August 17, 2026.

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“Sustained pressure by security forces led to the release of 12 abducted victims at Abocho, Dekina LGA.  The victims were taken to the Divisional Police Headquarters, debriefed and subsequently reunited with their families,” Iniedu added.

Updates on operational success were also recorded in the Federal Capital Territory and Oyo, Benue, Niger, Bayelsa and Ogun states.

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One-Chance Robbers Caught: See What Police Found In Their Car

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The Ogun State Police Command has arrested two suspected members of a “one-chance” robbery syndicate operating in the Abeokuta metropolis.

The suspects, identified as Bidemi Tijani, 29, and Olajide Rasaq, 42, were arrested on August 15 following an intelligence-led operation by operatives of the Violent Crime Response Unit.

The command said in a statement issued on Tuesday by its Police Public Relations Officer, DSP Oluseyi Babaseyi, that the suspects were arrested after operatives received intelligence that members of the syndicate, who disguised as commercial taxi operators, were sighted in a taxi heading towards Ita-Oshin, Abeokuta.

“Acting promptly on the tip-off, tactical operatives of the VCRU gave the fleeing robbers a hot chase towards Ita-Oshin, successfully intercepting the vehicle and apprehending the two suspects.

“Upon interrogation and putting down their statements under caution, both suspects confessed to being active members of the ‘One Chance’ robbery syndicate terrorizing commuters within the Abeokuta metropolis.

“Efforts are currently being intensified by operatives to track down and apprehend other fleeing members of the syndicate, establish the full extent of their activities, and recover necessary exhibits,” the statement read.

The Commissioner of Police, Ogun State Command, CP Bode Ojajuni, commended the VCRU operatives for their swift response, operational vigilance and tactical professionalism.

Ojajuni reiterated the command’s commitment to combating criminal activities in the state, warning that perpetrators of crime would find no safe haven in Ogun State.

He urged residents and commuters to remain vigilant and report suspicious persons or criminal activities to the police without delay through Gateway Shield, 0800 000 9111, or the emergency lines 09164859299 and 09154293464.

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Anglican Bishop Sends Strong Warning To Lay Readers

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The Anglican Bishop of the Missionary Diocese of Oyo South, Rt. Rev’d Olufemi Familoni, has urged church workers to remain committed to service in God’s vineyard.

​He gave the charge at the licensing and commissioning of 10 pioneer lay readers for the diocese at the Cathedral Church of St. John, Akinmoorin, Oyo State, on Sunday.

​Familoni said at the event that working in God’s vineyard requires faithfulness and deep commitment.

​”It is better not to offer yourself for God’s service than to offer yourself and not be faithful. God requires faithfulness. It is not the volume of work you do for God that matters; it is being faithful in what He has asked you to do,” he said.

​According to him, God does not reward sacrifice that is devoid of obedience.

“You remember Saul. He was asked to destroy the Amalekites, but he spared the king and some of the spoil under the claim that he wanted to sacrifice them to God.

​”Samuel, a prophet of God, told him obedience is better than sacrifice. You cannot earn God’s favour by doing things He has not commanded. I am urging you, as you begin this journey as lay readers in this diocese, to let commitment and faithfulness be your watchwords,” he added.

​While noting that the lay readers are pioneers in that arm of the diocese, he said, “It is the example you set today that people coming behind you will build on.

“I want to encourage you to brace yourselves for hard work and be dedicated to the cause of Christ. God, who sees your labour of love, will reward you in His own time.”

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​Serving as a lay reader, according to the Anglican tradition, is a noble calling.

“Not everybody has the capacity and calling to do what you are doing or what you have signed up to do. I want you to see it as a privilege to serve the Lord in this capacity. I want you to be faithful,” he said.

​The licensing and commissioning ceremony was a remarkable event in the young diocese’s history.

​ Familoni prayed that the pioneer lay readers would faithfully proclaim God’s word, serve God’s people with humility, and become effective instruments in advancing Christ’s Kingdom.

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Inside Story: Why Agbebaku Had To Resign As Edo Speaker

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The immediate past Speaker of the Edo State House of Assembly, Blessing Agbebaku, has said he resigned from the position for personal reasons and in the interest of peace, Edo State and his constituency.

Agbebaku disclosed this in a statement shared by his media aide, Ivy Ebojele, on Facebook on Monday.

His resignation came amid moves by some lawmakers to remove him from office.

Agbebaku, however, said his decision was not as a result of any breakdown in his relationship with members of the House, saying he maintained a cordial relationship with the other 23 lawmakers throughout his tenure.

“Differences will naturally arise because we all have our individual identities and beliefs. However, that did not stop us from passing people-oriented Bills and Resolutions in the last three years of my leadership,” he stated.

He said his decision to resign was taken after considering the broader interests of the state and his constituents.

“My decision to resign was taken in the interest of peace, the state, and my immediate constituency, Owan West,” Agbebaku said.

The former Speaker expressed appreciation to Governor Monday Okpebholo for the support and cooperation he received during his tenure.

“I appreciate the Governor, Distinguished Senator Monday Okpebholo, for his support and cooperation during my tenure,” he said.

Agbebaku also reaffirmed his loyalty to the All Progressives Congress and Edo State.

“I reaffirm my loyalty to the party and to the state,” he stated.

He appealed to his supporters to remain calm following his resignation and the subsequent change in leadership of the Assembly.

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“I urge all my supporters to remain calm and to continue to believe in the greater good and the development of democracy in the state,” he said.

Agbebaku also congratulated his successor, Yekini Idaiye, and the other principal officers of the Assembly.

“I congratulate the new Speaker, Rt. Hon. Yekini Idaiye, and other principal officers of the House,” he said.

He urged the lawmakers to work together and maintain peace within the Assembly.

“I call for peaceful coexistence among all lawmakers,” Agbebaku added.

Meanwhile, Idaiye, who represents Akoko-Edo Constituency I, emerged as the new Speaker following Agbebaku’s resignation.

The third-term lawmaker later accused Agbebaku of corruption and poor leadership, alleging that the Assembly had suffered prolonged adjournments and other challenges under his leadership.

Yekini said, “The House was inaugurated on the 16th of June, 2023 under the leadership of Agbebaku, and since then we have been passing through a lot of challenges, corruption here and there, adjournment here and there, sometimes for 30 days without a cause.”

“We are not happy with his leadership style. His leadership is poor and it has been drawing the work of the government backwards,” he added.

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The Olu Of Warri Just Did This And It’s Uniting The Entire City

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The Olu of Warri, Ogiame Atuwatse III, has inaugurated the maiden edition of the Warri Unity Games, declaring that the annual event would be held on the first Saturday of the coronation anniversary celebration week to promote unity among the various ethnic groups in Warri.

The monarch made this known in a statement posted on his Facebook page on Monday, where he addressed guests, students and stakeholders at the Federal Government College, Warri.

“Our beloved people, our honoured neighbours, our distinguished guests — we welcome you, with joy in our heart, to this first edition of the Warri Unity Games,” the monarch said.

He said the games were designed to reveal that the initiative would help the community rise above what he described as past hurts and suspicions.

“It is our hope, and indeed our firm conviction, that these Games will reveal a simple truth: that far more unites us than divides us. And beyond that, they will show us something greater still — that when we rise above our past hurts, rise above our traumas, rise above our suspicions, and rise above our differences, we become capable of attaining a powerful, collective destiny.”

Recalling his coronation in August 2021, the Olu said he had declared then that he had no intention to prosper in isolation, stressing that the Unity Games now gave that pledge, in his words, a home on the calendar.

The traditional ruler reflected on a painful chapter in the ancient kingdom’s history, recalling that a proposed land carnival marking the coronation anniversary of his father, the late Ogiame Atuwatse II, degenerated into violence in the early 1990s.

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“It led to violence and devastation from which, three decades later, Warri has yet to fully recover,” he said, attributing the crisis to pride and what he called “negative and destructive energies.”

He noted that Warri had, at the time, been staging a carnival that captured the attention of all of Nigeria, well before the emergence of Cross River State’s Calabar Carnival under former Governor Donald Duke, lamenting that the city lost its pioneering place as a result of the crisis.

The Olu, however, expressed confidence that Warri would rise again, declaring, “This time, however, we will not sit and wait for an unfortunate reaction to a beautiful and inspirational innovation. We are taking the bull by the horns.”

He added that his reign’s coronation anniversary would, from that point on, be devoted to unity, peace, progress and prosperity, for as long as his reign lasted.

The Warri Unity Games, according to the palace, is expected to become an annual fixture on the kingdom’s calendar, bringing residents across communal lines together in the spirit of the monarch’s unity agenda.

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Nigeria Gets Its Own Meta AI Academy. Here’s What It Means For You

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The Federal Ministry of Communications, Innovation and Digital Economy has partnered with Meta, the 3 Million Technical Talent programme and Robotics and Artificial Intelligence Nigeria to launch an artificial intelligence academy aimed at expanding Nigeria’s pool of AI talent and strengthening its technology ecosystem.

The academy will focus on moving participants from basic AI awareness to practical applications, offering training, technical support and opportunities to develop and commercialise AI-powered solutions, Meta, the parent company of Facebook, said in a statement on Monday.

The programme will comprise three components: AI skills development, a startup pitchathon and a six-week developer bootcamp.

“Through this partnership, we are equipping developers, entrepreneurs, and young professionals with practical AI skills while creating pathways for innovation and globally competitive startups,” Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, noted.

The minister said the initiative reflected the government’s commitment to building Nigeria’s AI ecosystem through public-private partnerships and strengthening the country’s position in Africa’s digital economy.

The skills programme will be open to the wider 3MTT community and will offer courses covering generative AI, prompt engineering, multimodal AI, data analytics and the development of applications using Meta’s Llama models.

Courses will be delivered through platforms including Coursera, DeepLearning.AI and DataCamp at no cost to participants. The top 100 performers will be eligible for scholarships towards Meta Blueprint certifications and up to $5,000 in advertising credits.

The programme will also target Nigeria’s emerging startup ecosystem through an AI Startup Pitchathon. Applications close on August 21, with 10 startups to be selected to pitch at GITEX Nigeria on September 3.

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Two winning startups will each receive $5,000 in cash funding and $2,000 in Meta advertising credits. They will also receive an all-expenses-paid opportunity to represent Nigeria at Meta’s AI Summit in Istanbul, Türkiye, in November.

“Nigeria is home to some of Africa’s most dynamic AI talent. What many founders and developers need is greater access to practical training, funding and platforms to build impactful solutions,” Head of Public Policy, Anglophone West Africa at Meta, Sade Dada, stated.

The six-week Developer Bootcamp, to be delivered by RAIN, will provide selected developers and startups with intensive hands-on training to build functional AI products and market-ready solutions, supported by technical guidance and access to Meta’s AI experts.

Founder and Chief Executive Officer of RAIN, Dr Olushola Ayoola, said the partnership demonstrated the importance of coordinated efforts in developing Nigeria’s AI capabilities.

“Building Nigeria’s AI capacity requires the kind of coordinated effort we are seeing here,” Ayoola remarked.

The partnership builds on the Federal Government’s 3MTT programme, which is aimed at developing a pipeline of technically skilled Nigerians for the country’s digital economy.

The push comes as artificial intelligence increasingly becomes a factor in technology development, business productivity and the creation of new digital products. Building a larger pool of developers capable of deploying AI could help local companies reduce reliance on imported technical expertise while giving startups access to skills needed to compete in regional and global markets.

The government has increasingly positioned AI and other emerging technologies as part of its strategy for developing Nigeria’s digital economy, while technology companies are looking to expand the pool of developers capable of building applications on their platforms.

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17-Year-Old Used ChatGPT Before Tragedy: What Police Found

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A 17-year-old Massachusetts boy has been accused of killing his mother and younger brother after prosecutors said he used ChatGPT to explore “theoretical ideas or fantasies” about killing his family.

Arjun Aravind, from Acton, was arraigned on Thursday in Concord District Court on two counts of murder, alongside charges of assault and battery with a dangerous weapon and assault and battery.

He was charged as an adult under Massachusetts law and pleaded not guilty. The court ordered him held without bail.

Middlesex District Attorney Marian Ryan said investigators uncovered what she described as “concerning behavior” before the killings, including Aravind’s internet activity and his use of ChatGPT.

Ryan said the teenager allegedly used the artificial intelligence chatbot to “make searches including for theoretical ideas or fantasies regarding killing his family.”

Aravind is accused of killing his 45-year-old mother, Sudha Venkatesan, and his 14-year-old brother, Siddharth Aravind, at the family’s home on Martha Lane in Acton.

Police were called to the residence shortly after 6:30 p.m. on Tuesday after Aravind’s father requested a welfare check.

According to authorities, the father had been at work and became concerned after a tutor who arrived at the house was unable to get inside. Repeated attempts to contact the family also went unanswered.

Officers who entered the house found Siddharth dead on the first floor. Venkatesan was later found dead in the finished basement.

Prosecutors said investigators found evidence of a violent physical struggle inside the home, with preliminary evidence indicating that both victims suffered blunt-force trauma. Their official causes of death are yet to be determined by the medical examiner.

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Investigators also discovered that Venkatesan’s green Honda Accord was missing from the residence.

Aravind was found at about 3:40 a.m. Wednesday inside the vehicle in a parking lot in nearby Wayland, Massachusetts. He was arrested without incident.

Prosecutors said investigators recovered several items from the car that they believe corresponded with evidence from the crime scene, although authorities have not publicly identified those items.

Court documents reportedly indicate that Aravind’s father had become concerned about his son’s recent behaviour and internet use and had begun hiding knives inside the home.

Aravind’s lawyer, Debra DeWitt, requested a mental health evaluation for the teenager.

When the judge asked whether the request was related to Aravind’s competency to stand trial or his potential criminal responsibility, DeWitt said that had not yet been determined.

Aravind had also received treatment for an injury to his hand before Thursday’s court appearance and was medically cleared to attend the hearing.

The family had recently moved to Acton, an affluent community about 30 miles northwest of Boston, partly because of its schools and support system for their children, according to Aravind’s lawyer.

Aravind is expected to return to court on September 11 for a probable cause hearing.

The allegations against him have not been proven in court.

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Official vs Black Market: Dollar To Naira Rate Today Will Surprise You

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The Nigerian naira opened the week relatively strong against the United States dollar, with the local currency trading around N1,357.61 per dollar at the official Nigerian Foreign Exchange Market (NFEM) window and about N1,420 per dollar at the parallel market.

Data from the Central Bank of Nigeria (CBN) showed that the NFEM rate stood at N1,357.61 per US dollar as of the latest available official market data. The rate is based on the volume-weighted average of transactions in the official foreign exchange market.

The parallel market, meanwhile, continued to quote the dollar at around N1,420, leaving a gap of approximately N62.39 between the two markets. Proshare reported that the naira had appreciated by 59 basis points at the official market to N1,357.61/$, while the parallel-market rate remained at N1,420/$.

The latest official rate represents an improvement for the naira compared with the previous week’s N1,365.69 per dollar. The appreciation has been linked to improved foreign exchange liquidity and supply conditions in the official market.

More recent market indicators also point to continued stability in the naira-dollar exchange rate. A live USD/NGN rate source put the dollar at about N1,358.30 as of the early hours of August 17, while other market data placed the currency around the N1,358 level.

The naira’s performance comes amid stronger external reserves and recent changes by the CBN aimed at improving liquidity and efficiency in Nigeria’s financial markets. Nigeria’s external reserves rose to $52.19 billion as of August 12, 2026, their highest level in 17 years, according to recent reports.

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For Nigerians buying or selling dollars outside the official market, the parallel-market rate remains higher than the NFEM rate. The difference reflects continued segmentation between the two foreign exchange channels, although the spread remains relatively contained compared with periods of severe market volatility.

As trading progresses on Monday, August 17, the official NFEM rate and parallel-market quotations could change depending on dollar supply, demand from importers and other FX users, CBN interventions and broader global currency movements.

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