The Nigerian naira maintained its stability against the US dollar on Friday, March 27, 2026, trading at approximately ₦1,384.17 per dollar in the official foreign exchange market. This represents a marginal appreciation of 0.04% from the previous day’s close.
According to data from the Central Bank of Nigeria, the naira has been trading within a narrow range of ₦1,360 to ₦1,380 per dollar in recent weeks, indicating relative short-term stability. However, the parallel market continues to trade at a premium, with rates ranging from ₦1,410 to ₦1,415 per dollar.
The naira’s recent performance is attributed to improved foreign reserves, Central Bank interventions, and global oil price movements. Despite this, demand-side pressures persist, posing a challenge to full exchange rate convergence.
In the parallel market, also known as the black market, the naira traded at a weaker level due to sustained demand for foreign currency. Bureau de change operators in Lagos and Abuja quoted the dollar at around ₦1,400 to ₦1,420, depending on location and transaction volume.
The disparity between the official and parallel market rates underscores ongoing structural issues in Nigeria’s foreign exchange system, including limited dollar supply and sustained demand from importers and individuals.
The United States and Iran are engaged in intense negotiations to end the ongoing conflict, with President Donald Trump claiming that Iran has agreed to abandon its nuclear ambitions.
According to reports, the US has presented a 15-point plan to Iran, which includes demands such as dismantling nuclear facilities, ending uranium enrichment, and limiting ballistic missile programs. In return, the US would lift sanctions and support Iran’s civilian nuclear program.
Trump has expressed optimism about reaching a deal, stating that Iran is “eager to make a deal” and that talks are “productive”. However, Iran has denied negotiating with the US, saying the US is “negotiating with itself”.
The negotiations are being mediated by Pakistan, with Oman also playing a role in facilitating talks. The US has warned Iran that it is prepared to “unleash hell” if no deal is reached.
The conflict has led to significant tensions in the region, with the US deploying troops and military equipment to the Middle East. A deal, if reached, would likely have significant implications for regional stability and global energy markets.
Troubling Developments in Our Polity that Must Be Nipped in the Bud.
I have just been made aware early this morning that Revered religious leader, Sheikh Ahmad Tijjani Umar has been arrested by authorities shortly after hosting me in Kaduna on Sunday.
This development underscores the deeply troubling state of our nation and our democracy, where freedom of speech and movement is increasingly threatened, and where citizens and perceived political opponents face harassment and unnecessary persecution. This cannot be allowed to continue.
This country must defend freedom and free speech, which are the hallmarks of every democratic society. Suppression and intimidation of dissent can never stand in a democratic society, and this Nigerian government must understand this fact.
I respectfully call on all those bent on undermining our already fragile democracy to please stop and apply the rule of law and tenets of democracy in dealing with citizens.
The Nigerian Naira has shown signs of appreciation in the parallel market, trading at ₦1,395 per dollar yesterday, up from ₦1,405 per dollar last week. However, the Naira depreciated to ₦1,383 per dollar in the Nigerian Foreign Exchange Market (NFEM). This represents a ₦11 depreciation for the Naira.
The Central Bank of Nigeria’s (CBN) Electronic Foreign Exchange Matching System (EFEMS) has contributed to the relative stability of the Naira, enhancing price discovery and reducing speculative spikes. The reintegration of licensed Bureau De Change operators into the official framework has also increased retail liquidity, diverting small-scale demand away from the unregulated market.
*Market Trends*
– Official Market: The Naira traded at approximately ₦1,356.74 per dollar on March 23, 2026, with intraday highs reaching ₦1,362.
– Parallel Market: The Dollar traded between ₦1,410 and ₦1,430 in Lagos and Abuja.
*Economic Outlook*
Nigeria’s external reserves hover around $50 billion, supported by steady oil production levels of 1.46 million barrels per day and favorable global crude prices. Inflation has eased slightly to 15.10%, and the banking sector has met new capital requirements, reinforcing confidence in the currency’s stability.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) is set to arraign former Kaduna State Governor, Nasir El-Rufai, today, March 24, 2026, at the Federal High Court in Kaduna. El-Rufai is facing charges of conversion and possession of public property, as well as money laundering, alongside Joel Adoga.
A separate charge has also been filed against El-Rufai and Amadu Sule (LEDA) at a Kaduna State High Court, alleging abuse of office, fraud, and intent to commit fraud. The ICPC has stated that El-Rufai has been duly served and is committed to adhering to due process and the rule of law.
The development marks a significant step in the anti-corruption drive, as the ICPC moves to hold high-profile individuals accountable for alleged corruption.
Anambra State Governor, Chukwuma Soludo, has dissolved his cabinet, just a day after being sworn in for a second term. The move is aimed at reconstituting his executive team for the new term. All political appointees have been directed to hand over their duties to Permanent Secretaries or senior civil servants, effective immediately.
The dissolution was announced through an official circular issued by the Office of the Secretary to the State Government, instructing appointees to complete the handover process by the close of work on March 18, 2026. A meeting has been scheduled for today, March 23, 2026, at 10 a.m. at the ANSEC Chambers, where Soludo will meet with members of the outgoing cabinet.
This development marks a new chapter in Soludo’s administration, as he prepares to unveil his new team. The governor’s inaugural address highlighted key achievements of his first term, particularly in security, declaring an end to the “sit-at-home” era.
The “No Borrowing” Mantra: Economic Prudence or Policy Misconception?
Introduction
I write in the public interest, for posterity, and to set the record straight amid growing political rhetoric and economic misconceptions. Too often, the masses are swayed by appealing but simplistic narratives from political leaders. One such narrative is the popular claim by some Governors that “we have not borrowed.” While this may sound fiscally responsible on the surface, it raises an important question: is this truly sound economic policy, or a misunderstanding of development finance?
Recently, during a media chat with the Governor of Anambra State, Dr. Reuben Abati of Arise TV inquired about the level of borrowing undertaken to execute major infrastructural projects, including the construction of a new Government House. The Governor proudly stated that his administration had not borrowed a kobo. This assertion provides a useful backdrop to examine the economic implications of borrowing in public finance.
What Is the Primary Objective of Government?
Chapter II, Section 14(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria clearly states that “the security and welfare of the people shall be the primary purpose of government.” This is not optional—it is a constitutional obligation.
To fulfill this mandate, government must ensure that:
1. No citizen goes to bed hungry.
2. The elderly and vulnerable are adequately cared for.
3. Employment opportunities exist for all willing and able individuals.
4. Functional financial systems (banking and insurance) serve public/ private interest efficiently.
5. Reliable and affordable electricity is provided.
6. Access to healthcare is not determined by one’s financial capacity.
These responsibilities require substantial financial resources, which are often beyond what internally generated revenue and monthly allocation from Abuja can provide.
Borrowing as an Instrument of Development
In economics, public borrowing—when properly managed—is not inherently harmful. On the contrary, it is a legitimate fiscal tool for bridging resource gaps and financing long-term capital projects. The key issue is not whether government borrows, but how and why it borrows.A forward-thinking government should:
Invest in productive sectors such as agriculture, housing, infrastructure, and healthcare.Government can stimulate aggregate demand by ensuring income flows to households,
promote inclusive growth and reduce poverty.For instance, if a Government undertakes data-driven planning—identifying population segments such as youths, unemployed persons, retirees, and the working class—it can effectively allocate resources to maximize productivity. When citizens are gainfully employed, crime rates decline, economic activity expands, and overall welfare improves.
The Illusion of “No Borrowing”.
The “no borrowing” mantra, while politically attractive, can be misleading if it results in underinvestment in critical sectors. In a developing economy like Nigeria, where infrastructure deficits are significant, outright avoidance of borrowing may signal missed opportunities rather than fiscal discipline.
It is important to distinguish between:
Productive borrowing (for infrastructure, job creation, and economic expansion), and
Unproductive borrowing (for recurrent expenditure such as salaries or consumption).
The former drives growth and can repay itself over time through increased revenue, while the latter can lead to fiscal distress.
The Reality of Governance and Citizen Expectations.
A troubling reality is that many citizens have normalized government failure. Individuals provide their own water, security, electricity, and even basic infrastructure. This reflects a breakdown in the social contract.
Critical questions must be asked:
i. Does the government actively address unemployment?
b. Is there a clear strategy for improving power supply?
c. Are citizens genuinely benefiting from public resources?
In many cases, the answer is no.
Conclusion
Government must, where necessary, utilize borrowing as a strategic tool to organize the factors of production, stimulate economic activity, and fulfill its constitutional mandate. Avoiding borrowing entirely, especially in a resource-constrained environment, may reflect not prudence but a limited understanding of development economics.
That said, borrowing must be responsible, transparent, and tied strictly to productive investments—not to finance consumption or recurrent expenditure.
Ultimately, good governance is not measured by the absence of debt, but by the presence of development, improved welfare, and a better quality of life for the people.
Anaenugwu Ndubuisi
Ambassador General
Good Governance Ministry (GGM)
Email: ggovernanceministry@gmail.com
CDD Presents Report On 2025 Anambra Gov’ship Election, Says Building, Maintaining Credible Information Ecosystem Essential For Upholding Democratic Principles
Building and maintaining credible information ecosystem before, during and after elections is not just desirable, but essential for upholding democratic principles.
This is contained in the Centre for Democracy and Development (CDD – West Africa) report on the last Anambra Governorship election titled; “Information Disorder and Electoral Integrity: Lessons from the 2025 Anambra Governorship Election”, which was presented in Awka, the state capital, at a one-day regional conference on information narratives for the 2027 general elections in the South-East.
According to the report authored by Chioma Iruke, Valeria Ogide, Ahmad Aluko Raji A. Olatunji and edited by Dr. Dauda Garuba, protecting democratic trust necessitates sustained and collaborative efforts among election management bodies, political actors, social media platforms and civil society organizations.
It note that without a concerted response to misinformation, disinformation and hate speech, the legitimacy of electoral outcomes and public confidence in Nigeria’s democratic institutions will remain at risk, adding that strengthening these efforts is imperative to ensure that electoral processes truly reflect the will of the people and foster a resilient democratic future.
The report maintained that “The 2025 Anambra Governorship election underscores that information disorder has emerged as one of the most profound threats to democratic credibility in Nigeria”, adding that “as electoral processes increasingly rely on digital platforms, the integrity of elections extends beyond administrative competence to encompass the quality, accuracy and trustworthiness of the information environment in which citizens participate”.
Nigeria Being Constantly Ruled By Old People Worries New York-based Nigerian Scholar, Dr Mrs Felicia Okeke-Ibezim
A New York-based Nigerian Professor, author and Psychologist, Dr Mrs Felicia Ekwutosi Okeke-Ibezim, has expressed concern over Nigerian people always electing old people.
While acknowledging the fact that old people have experience, Dr Mrs Okeke-Ibezim, nevertheless, opined that the younger generation needs to be given a chance to govern in order to bring in new and fresh ideas, innovative skills and all it takes to navigate the digital world.
In an interview by members of the Nigeria Union of Journalists, NUJ, led by Dr Odogwu Emeka Odogwu at her Enugu Residence, the Awka-born philanthropist and a prolific writer who previously taught at Federal Polytechnic, Oko in the early 90s advocated that Nigeria copy the minimum age for a candidate to run for presidency to be 35 years and maximum of 70 years. For Governorship, she suggested a minimum age of 30 years.
Dr Mrs Okeke-Ibezim decried the corrupt practices and narcissistic behavior of many Nigerian leaders without caring for the sufferings of the struggling masses, and called for conscientious, responsible and selfless leadership in Nigeria.
Married in Amaigbo, Imo state to late Dr David Ikechukwu Ibezim, Dr Felicia described Nigeria as an “amalgamation failure” and stated that she has little or no faith in illusionary one Nigeria, stressing that regional autonomy may be answer to the beleaguered country’s problems.
A successful real estate investor and a philanthropist who built a free multi-purpose 2-storey halls and event center for her community in Awka for income generation, Dr Mrs Okeke-Ibezim has also previously built the first free solar-powered Library and Computer Center in Amaigbo to help youths, women and men in the village to learn how to navigate in the digital world, in addition to her scholarship programs for students from struggling families.
Described as “enyi ndi ogbenye”, Dr Mrs Okeke-Ibezim has given some young widows in Amaigbo some monetary assistance to start small businesses or add to their existing ones.
In addition to being a multi-faceted, multi-talented woman of substance, Dr Mrs Okeke-Ibezim is a fashion icon who models for fun both African fashion and contemporary western styles.
She wanted to change the narrative that Professors need not to dress in only unflattering clothes. She also wanted to teach young girls that they could be beautiful, brainy, hardworking, fashionable and with a good heart.
In her You Tube Channel titled, Social Conscience, Dr Mrs Okeke-Ibezim explores and creates awareness on the social, political, psychological and cultural issues in the society.
The Delta State Police Command has announced the arrest of five individuals, including the community head and chief organiser of a festival in Ozoro, Delta State, over allegations of sexual violence and harassment. The incident, which occurred during a festival in Ozoro, has sparked widespread outrage and condemnation.
The arrested individuals include Chief Omorede Sunday, the community head and chief organiser of the event, and four other suspects. The police are investigating the incident and have vowed to bring all those involved to justice.
The Delta State Government has condemned the incident, describing it as “barbaric” and a violation of human rights. The government has also assured the public that it will work with security agencies to ensure that the perpetrators face the full weight of the law.
The incident has sparked a call for action against sexual violence and harassment, with many Nigerians demanding justice for the victims.
the Awka-born philanthropist and a prolific writer who previously taught at Federal Polytechnic, Oko in the early 90s advocated that Nigeria copy the minimum age for a candidate to run for presidency to be 35 years and maximum of 70 years. For Governorship, she suggested a minimum age of 30 years.