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Breaking: Foreign Reserves Hits $41.05bn Amid Improved Macroeconomic Stability, Investor Confidence

Breaking: Foreign Reserves Hits $41.05bn Amid Improved Macroeconomic Stability, Investor Confidence

James Emejo in Abuja

The country’s gross Foreign Exchange Reserves further increased to $41.05 billion, the highest level in over 44 months, demonstrating the continued improvement in macroeconomic indices in recent times.

A day before, external reserves rose to $41 billion from $40.96 billion on August 18, 2025, showing less volatility over the past one month.

Compared to about $40 billion, announced by the Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, as at July 18, external reserves had increased by about 2.62 per cent to date.

The current movement in reserves represented the highest level recorded since December 3, 2021, and has continued to maintain the upward trajectory in recent weeks.

Essentially, FX reserve movements are particularly crucial for economic stability, currency strength, import capacity, debt management, and overall investor confidence. Changes in the reserves could signal economic stress or health.

Amid huge debt service obligations, and revenue challenges, the stability in external reserves movement, coupled with a marked deceleration in inflation rate as well as Naira’s relative stability offer renewed hope for the country about better days ahead.

The development further attests to the position of the central bank’s management team that monetary policy actions have so far headed in the right direction.

During the last MPC meeting in July, Cardoso had attested to the sustained stability in the foreign exchange market, accentuated by improved capital flows, earnings from increased crude oil production, rising non-oil exports and significant reduction in aggregate imports.

He said, “That clearly is a reflection of the way that the international investors view the banking system, and I was again very privileged to have a conversation with a good number of them about three or four weeks before this listing took place.

“And really and truly, a lot of interest, I must say, a lot of interest internationally, on putting money on the Nigerian financial system.

“The key thing is that we as regulators will continue to play our part to ensure that the system and the players and the actors continue to do what we are doing, creating resilience, creating buffer, and, of course, playing by the rules, because that is so important for those who are looking to invest that they can believe and they trust in you.”

The post Breaking: Foreign Reserves Hits $41.05bn Amid Improved Macroeconomic Stability, Investor Confidence appeared first on THISDAYLIVE.

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James Emejo in Abuja The country’s gross Foreign Exchange Reserves further increased to $41.05 billion, the highest level in over 44 months, demonstrating the continued improvement in macroeconomic indices in
The post Breaking: Foreign Reserves Hits $41.05bn Amid Improved Macroeconomic Stability, Investor Confidence appeared first on THISDAYLIVE.

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I’m not in any supremacy battle with Ooni – Alaafin

The Alaafin of Oyo, Abimbola Owoade, has said that he is not in any supremacy battle with the Ooni of Ife, Adeyeye Ogunwusi. He affirmed that he is the veritable custodian of Yoruba culture and tradition, stressing his commitment to preserving the heritage and welfare of his people. This comes in the wake of his
I’m not in any supremacy battle with Ooni – Alaafin

The Alaafin of Oyo, Abimbola Owoade, has said that he is not in any supremacy battle with the Ooni of Ife, Adeyeye Ogunwusi.

He affirmed that he is the veritable custodian of Yoruba culture and tradition, stressing his commitment to preserving the heritage and welfare of his people.

This comes in the wake of his dispute with the Ooni of Ife over the authority to confer the title of Okanlomo of Yorubaland on businessman Dotun Sanusi.

According to a statement by his Director of Media and Publicity, Bode Durojaiye, the Alaafin addressed recent tension between him and the Ooni, clarifying that his authority is rooted in centuries-old Yoruba history and spiritual traditions.

The monarch also highlighted that his leadership is guided by the will of his subjects and a dedication to their safety, prosperity, and cultural development.

The royal father refuted claims of a supremacy battle with the Ooni, stating that such disputes are unnecessary and detract from the unity and progress of Yorubaland.

He said that his governance style is one of steady progress, practical leadership, and respect for Yoruba customs and traditions.

“Why Alaafin does not need to get into any battle for supremacy with any Oba, either in Yorubaland or anywhere in the universe? These immortal words of Alexander Graham Bell – The most successful men in the end are those whose success is the result of steady accretion,” the statement said.

I’m not in any supremacy battle with Ooni – Alaafin

Free entry to Olumo Rock ends Saturday, August 23rd

The Ogun State Government wishes to express its profound appreciation to the general public, tourists, and visitors for the overwhelming and unprecedented turnout recorded at the newly renovated Olumo Rock Tourist Complex. This remarkable response is a testament to the vision and commitment of His Excellency, Prince Dapo Abiodun, CON, in repositioning Olumo Rock as
Free entry to Olumo Rock ends Saturday, August 23rd

The Ogun State Government wishes to express its profound appreciation to the general public, tourists, and visitors for the overwhelming and unprecedented turnout recorded at the newly renovated Olumo Rock Tourist Complex.

This remarkable response is a testament to the vision and commitment of His Excellency, Prince Dapo Abiodun, CON, in repositioning Olumo Rock as a world-class tourist destination of pride for Ogun State, Nigeria, and the global community.

As part of this vision, His Excellency graciously introduced a free entry initiative to give residents and visitors the opportunity to rediscover and appreciate the cultural and historical significance of Olumo Rock following its renovation. This objective has been fully achieved, with thousands of visitors taking advantage of the initiative.

However, the unprecedented influx of visitors has raised concerns about overcrowding and public safety. At certain points, the volume of the crowd posed risks that could have resulted in a stampede but for the swift and professional intervention of security agencies and on-site personnel.

In view of this, and in line with the government’s priority to safeguard lives, His Excellency has directed that the free entry initiative will come to an end on Saturday, 23rd August, 2025. Thereafter, normal access procedures will resume.

The Ogun State Government regrets any inconvenience this adjustment may cause and assures the public of its unwavering commitment to providing a safe, enjoyable, and memorable experience for all visitors to the Olumo Rock Tourist Complex.

Free entry to Olumo Rock ends Saturday, August 23rd

CAN urges mass voter registration among Christians ahead of 2027 polls

Ahead of the 2027 general elections, the Christian Association of Nigeria, CAN, in the 19 northern states and the Federal Capital Territory, FCT, has called on Christians to take advantage of the ongoing Continuous Voter Registration, CVR, exercise by the Independent National Electoral Commission, INEC, and register ahead of the general elections. It further urged
CAN urges mass voter registration among Christians ahead of 2027 polls

Ahead of the 2027 general elections, the Christian Association of Nigeria, CAN, in the 19 northern states and the Federal Capital Territory, FCT, has called on Christians to take advantage of the ongoing Continuous Voter Registration, CVR, exercise by the Independent National Electoral Commission, INEC, and register ahead of the general elections.

It further urged churches, Christian organisations, and community leaders across the region to mobilise their members and ensure that no eligible Christian is left out of the voter registration exercise.

A statement signed by its chairman, Rev. Yakubu Pam, described the CVR as both timely and crucial, stressing that voter registration is the first step towards obtaining a Permanent Voter’s Card, which is the gateway to effective participation in the democratic process.

According to the statement, Christians have a moral and civic duty to contribute meaningfully to the future of the nation, adding that democracy thrives when the voices of the people are heard.

It advised Christians not to sit on the sidelines, urging those of voting age—particularly those who have not previously registered or have relocated since the last elections—to come out en masse and register with INEC.

The statement noted that good governance does not happen by chance but requires deliberate participation, warning that silence or indifference only empowers the wrong forces to take control of the destiny of the people and the nation.

The statement added that the 2027 general elections will be a defining moment for Nigeria, stressing that the opportunity to make a lasting impact must not be missed.

CAN urges mass voter registration among Christians ahead of 2027 polls

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2027: I can’t determine my successor – Uzodinma tells Owerri Zone

Imo State Governor Hope Uzodinma has said that it is not within his power to determine who succeeds him when he leaves office in January 2028. The governor made the assertion when stakeholders from Owerri Zone paid him a solidarity visit at Government House, Owerri, on Thursday. He advised that the Charter of Equity should
2027: I can’t determine my successor – Uzodinma tells Owerri Zone

Imo State Governor Hope Uzodinma has said that it is not within his power to determine who succeeds him when he leaves office in January 2028.

The governor made the assertion when stakeholders from Owerri Zone paid him a solidarity visit at Government House, Owerri, on Thursday.

He advised that the Charter of Equity should not be used as a tool to create confusion in the state, emphasizing that what is paramount is the collective interest of the state towards achieving progressive development.

According to him, the person that will emerge as his successor must be a product of a democratic process and not chosen by him or by a few individuals.

Uzodinma stressed that the Charter of Equity was borne out of a clear intention to restore moral order, eliminate confusion and check imbalance in the governance of the state.

“It is a document to let us know and remember the imbalance in the system and see how best to correct it, but not for people to enter social media and circulate fake news.

“We cannot continue like this every time. I invite the leaders from Owerri Zone to join me cure this confusion. I commend you and other stakeholders from the zone for your sense of unity and cooperation to achieve common goals,” he said.

The governor enjoined Owerri Zone to carry other zones in the state along in their desire for the governorship position and allow the will of God and that of the electorate to prevail.

Uzodinma further implored the leaders of the zone to join him to eliminate the confusion that is surrounding the Charter of Equity, noting that if the issue is not resolved under his administration, it will be difficult for others coming after him to resolve.

He noted that the state desires a selfless leader who is committed to serving the people, making strong and informed decisions that will encourage even development.

“I’m happy to hear that you are united, therefore, I advise the leaders to remain focused and resist the temptation to be confrontational. I further encourage the leaders from the zone, particularly those aspiring for the state’s number one seat, to slow down on early campaigns since the electioneering period is still far.

“Let me re-emphazise the need for you to channel your energies and resources to help improve security, healthcare and economic well being of the state,” he added.

Earlier in his speech, the spokesperson for the delegation, Chief Charles Amadi said the visit was to express solidarity and to commend the governor for what he described as his ingenuity in establishing the Imo Charter of Equity, which according to him, will check imbalance, injustice and foster peace in the state.

Amadi said the leaders and people of Owerri Zone are resolved to lend their absolute support to the Charter of Equity, assuring the governor that the zone is united and now works in harmony as a group.

“We now have a common front with a resolve to support any candidate from the zone who is adopted. We commend you for your numerous infrastructural projects, and appeal that the promise for power shift as enshrined in the Charter of Equity be kept,” Amadi said.

2027: I can’t determine my successor – Uzodinma tells Owerri Zone

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