Business
Nigerians Need Cash Now, Osinbajo Laments Naira Scarcity
Vice President Yemi Osinbajo, SAN, has expressed concern over difficulty experienced by Nigerians in getting the new naira notes.
The VP on Friday in Abuja met with some players in the FinTech space to explore possible ways of mitigating the hardship.
Osinbajo urged the Central Bank of Nigeria (CBN) and banks to deploy more FinTechs and money agents to the hinterlands to address the worrying situation.
The Vice President stated that Nigerians need cash to pay for transport, food, and other needs.
“In Abuja how do you take ‘drop or along’ or use a Keke NAPEP without cash, or buy foodstuff on the road or in canteens, or even buy recharge cards?
“Parents with kids in public schools give money daily to their children for lunch, most commerce is informal, so you need cash for most things”, he said.
Osinbajo said it was disturbing that after depositing old notes, there are no new notes: “People everywhere in the urban areas and rural areas simply have no money.”
The nation’s second-in-command observed some FinTechs have mobile money licenses and should be engaged immediately.
READ ALSO: Allow Old, New Naira Notes Coexist, APC Govs Beg Buhari
He said many of them have micro-finance bank licenses and already have a network of mobile money agents or human banks or human ATMs, as they are sometimes.
“They can supervise by themselves. They can do currency swaps and open bank accounts.”
Also on Friday, President Muhammadu Buhari met with some All Progressives Congress (APC) governors at the Presidential Villa over the nara scarcity.
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.”
READ ALSO:Dangote Sugar Announces South New CEO
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.
READ ALSO:
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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