Business
Heads Will Roll Over N23.7 Trillion CBN’s Advances To Government – Expert
An investment and economic expert, Titewa Adebajo, has called for consequences over the N23.7 trillion Ways and Means advance from the Central Bank of Nigeria to the federal government.
Adebajo made this call on Tuesday in an Arise TV interview monitored by DAILY POST.
He stated that according to CBN’s Act on Ways and Means, the bank’s advances to the federal government should be at most N500 billion to one trillion.
Adebajo described the whooping N23.7 trillion Ways and Means finance to the government as illegal.
He added that the federal government must come out clean on the exact amount of debt, stating that there is a need for the apex bank to make its account public.
He said: “There is no law that states that you need to take the Ways and Means of loans to the National Assembly for approval; all the domestic debt doesn’t need approval from anybody other than its advisory board.”
He queried why CBN would approve N23 trillion of Ways and Means financing without legal backing, calling it a mistake and stating that “people who make these mistakes have to pay the price.”
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He added: “The government has to come out clean on the exact debt of the country; is it more than $200bn? It is more than N77bn debt because there is $200bn I can account for.”
Ways and Means represent short-term emergence finance rendered by CBN to the government.
Last week, while signing the 2023 budget into law, President Muhammadu Buhari asked the Senate to reconsider approving his administration’s 23.7 trillion Ways and Means.
Business
Naira Records Massive Appreciation Against US Dollar Into Christmas Holidays
The Naira gained massively against the United States dollar in the last three days at the official foreign exchange as trading ended for the Christmas holidays.
Central Bank of Nigeria data showed that the Naira strengthened further on Wednesday to N1,443.37 per dollar, up from N1,449.99 on Tuesday.
This means that since Monday this week, the Naira has recorded a significant N13.18 gain against the dollar, according to the apex bank data.
READ ALSO:Naira Records Depreciation Against US Dollar Across Official, Black Markets
Similarly, at the black market, the Naira traded on Wednesday at N1,490 per dollar, an appreciation from the N1,500 exchanged on Monday but the same rate as on Tuesday.
The uptrend comes amid the rise in the country’s external reserves to $45.24 as of December 23rd, 2025.
DAILY POST reports that the Naira gained against the dollar at the official market on Monday and Tuesday.
Business
Report Any MRS Filling Stations Selling Fuel Above N739 Per Liter — Dangote Refinery To Nigerians
Dangote Refinery has urged Nigerians to report any MRS filling station outlets nationwide selling fuel above the N739 per liter announced price.
The company disclosed this in a statement on Sunday.
The refinery insisted that its petrol being at retail outlets remain N739 per liter while the gantry price is N699.
It further called on other filling station owners to patronize its refined petroleum products at the N699 rate.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market.”
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Recall that Aliko Dangote, the president of Dangote Refinery, had pegged the retail price of his petrol at a maximum of N740.
DAILY POST reports that MRS filling and other filling stations had reduced fuel prices to between N739 and N912 per liter in Abuja.
However, reports emerged that some MRS filling stations were selling above the N739 per liter announced price benchmark.
Business
Naira Records Significant Appreciation Against US Dollar
The Naira recorded significant appreciation against the United States dollar on Monday at the official foreign exchange market to begin the week ahead of Yuletide on a good note.
The Central Bank of Nigeria’s data showed that the Naira strengthened to N1,456.56 per dollar on Monday, up from N1,464.49 traded on Friday last week, 19th December 2025.
This means that the Naira gained N7.93 against the dollar when compared with the N1,464.49 was exchanged as of Friday, December 19, 2025. DAILY POST reports that Monday’s gain at the official FX market is the first since December 15th.
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Meanwhile, at the black market, the Naira remained stable at N1500 per dollar on Monday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.
The development comes as the country’s external reserves stood at $44.66 billion as of last week Friday.
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