COGNICURRENT

The EFCC returned nearly 3.94 billion Naira to the Nigerian National Petroleum Company Limited, recovered from fraudulent activities.

The Nigerian naira has depreciated to 1,385 per US dollar due to rising tensions in the Middle East and its consequent impact on local energy prices.

The naira has appreciated against the dollar, reaching N1,355 in the official forex market, marking its strongest performance since February 2026.

Six police officers in Anambra, Nigeria, have been detained for allegedly extorting 200,000 naira from a victim after harassing him in a viral incident.

The trial of former Nigerian Attorney-General Abubakar Malami continues with witnesses providing evidence about substantial financial transactions linked to hotel accounts and loans.

A Brazilian journalist residing near a luxury building in Dubai captured the aftermath of an Iranian drone attack, describing the experience as surreal.

A fire at Owode Market in Offa, Kwara State, has destroyed six shops and goods valued at millions of naira.

The United Capital Infrastructure Fund stresses that long-term, naira-denominated funding is crucial for addressing Nigeria's significant infrastructure financing needs.

A Federal High Court in Abuja has accepted an AK-47 rifle and naira notes as evidence in the trial of suspects involved in the 2025 Yelwata massacre in Nigeria.

A man has been arrested in Lagos for selling his sister's one-month-old baby for 2 million Naira, claiming he was driven by poverty to commit the act.

A man named Iziga Jude Ikechukwu was arrested by the EFCC for allegedly abusing Nigerian Naira notes at his birthday party, as captured in a viral video.

The naira experienced its first annual appreciation in 13 years in 2025, strengthening by 6.87% against the US dollar, according to Comercio Partners.

The Central Bank of Nigeria's foreign exchange reforms have increased external reserves and contributed to the stabilization of the naira, but challenges remain.

A lecturer and his accomplice have been sentenced to a combined 11 years in prison for a multi-million naira extortion scheme targeting a businessman in Nigeria.

Nigerian singer Davido and his wife Chioma are vacationing in Hawaii despite a 1 billion Naira lawsuit filed against him by his daughter's mother, Sophia Momodu.

Petrol prices in Nigeria have soared to N937 per litre following global oil price increases, prompting calls for more domestic crude supply to stabilize the market.

The Nigerian Education Loan Fund has received nearly 1.7 million applications and disbursed over 183 billion Naira as the application period closes.

The Joint Admissions and Matriculation Board (JAMB) of Nigeria announced a target of 23.8 billion naira for internally generated revenue in 2026, an increase from the previous year, while also expanding Unified Tertiary Matriculation Examination (UTME) centres to 1,000.

The Economic and Financial Crimes Commission has arrested 20 individuals for electoral fraud during the Federal Capital Territory local government elections and recovered over 17 million Naira intended for vote buying.

The ICPC reports tracking 35 Federal Government projects worth 4.61 billion Naira in Zamfara to ensure proper implementation and completion.

Tope Oriloye, a secondary school student abducted in Edo State, has been released after a ransom of 2 million Naira was paid, while another victim remains in captivity.

Today’s recap highlights key economic and electoral issues in Nigeria, including currency forecasts and potential electoral disruptions.

A devastating fire at the Electronics Parts Market in Nnewi, Anambra State, destroyed numerous shops and goods worth millions of naira, with no casualties reported.

Aliko Dangote forecasts that the Nigerian naira could strengthen to ₦1,100 against the dollar within the year, contingent on government reforms and policy implementations.

Nigerian stocks have achieved the world's second-best dollar returns this year, with a 31% increase, recovering $21 billion in market value after a naira devaluation.

During President Bola Tinubu's visit to Adamawa State, the traditional practice of spraying cash reemerged during a performance by Hausa musician Dauda Rarara, despite ongoing warnings against it.

Nigeria's inflation rate has significantly decreased, reflecting the positive effects of monetary reforms and improved currency management.

A trader in Argungu, Nigeria, is gaining attention for accepting a wide range of historical and modern currencies, highlighting Nigeria's diverse monetary history during the Argungu Fishing Festival.

Security agents attempted to arrest former Kaduna State Governor Nasir El-Rufai at Abuja Airport amid discussions about the naira's potential decline against the dollar.

In Nigeria, former Kaduna Governor Nasir El-Rufai faced attempted arrest by security agents at Abuja Airport, and billionaire Femi Otedola predicts the naira's value may drop below ₦1,000 to the dollar by year-end.

The EFCC has arrested three men for allegedly mutilating a ₦500 note by using it as tissue paper, following a viral video of the act.

Billionaire Femi Otedola predicts that the naira could strengthen to below ₦1,000 per dollar by 2026, following the Dangote Refinery reaching full production capacity.

A federal court in Lagos has convicted two Chinese nationals of cyber-terrorism and fraud involving 3.4 billion naira.

Market analysts predict that the naira will strengthen against the dollar following the Central Bank of Nigeria's announcement allowing Bureau de Change operators to purchase up to $150,000 weekly.

Monica Cash has surpassed ₦500 billion in transactions, highlighting the increasing adoption of cryptocurrency in Nigeria for secure and fast payments.

The Jigawa State Police Command has apprehended five armed robbery suspects and two individuals for cattle rustling, recovering stolen goods worth millions of naira.

A judge has ordered an investigation into the court registrar for allegedly tampering with evidence in a fraud trial involving 10 billion Naira.

The Nigerian naira depreciated slightly against the US dollar, falling to 1,366.05 naira per dollar at the official exchange rate after a period of consecutive gains.

The Federal Government is reviewing the National Agricultural Growth Scheme and Agro-Pocket Project after significant agricultural success, producing over 2.5 million metric tons valued at around 2.3 trillion Naira.

Nigeria's foreign exchange market is improving due to Central Bank reforms and rising oil prices, enhancing the naira's value and strengthening external reserves.

The naira improved against the US dollar in the last week of January 2026, closing at 1,386/$ in the official Nigerian foreign exchange market.

A Nigerian court has granted bail to former justice minister Abubakar Malami as he faces charges of money laundering involving 8.7 billion naira ($6 million).