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CBN Lifts Forex Ban On 43 Items, To Intervene In FX Market

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The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”.

The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were “not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.

But in a statement, the bank’s Director of Corporate Communications Isa AbdulMumin said the ban has been lifted.

“As part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time. As market liquidity improves, these CBN interventions will gradually decrease,” the Thursday statement read.

“Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEMFPC/GEN/O1/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.”

“The Central Bank of Nigeria (CBN) will continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates on a Willing Buyer- Willing Seller principle,” he added.

“The CBN reiterates that the prevailing Foreign Exchange (FX) rates should be referenced from platforms such as the CBN website, FMDCQ, and other recognised or appointed trading systems to promote price discovery, transparency, and credibility in the FX rates.

“As part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time. As market liquidity improves, these CBN interventions will gradually decrease.”

“The CBN has set as one of its goals the attainment of a single FX market. Consultation is ongoing with market participants to achieve this goal,” CBN added.

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International News

US Wants Justice In The killing Of Pastor Dachomo’s 9 Family Members 

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The United States has condemned the killing of members of the family of Plateau-based cleric, Rev. Ezekiel Dachomo, describing the attack as horrific and urging Nigerian authorities to ensure those responsible are brought to justice.

 

In a statement shared on X on Thursday, the US Department of State’s Bureau of African Affairs expressed condolences to the victims’ families and called for stronger measures to prevent further attacks on vulnerable communities across Nigeria’s Middle Belt.

“The United States strongly condemns the horrific killing of members of Rev. Ezekiel Dachomo’s family in Plateau State, Nigeria. The continued violence targeting Christian communities and other vulnerable populations in Nigeria’s Middle Belt is deeply alarming,” the bureau said

The US said it had already engaged Nigerian officials on the worsening security situation, stressing that urgent action was needed to curb recurring attacks and hold perpetrators accountable.

“As I discussed last week with Nigerian officials, we must do more to prevent violent acts. The perpetrators must be held accountable, and urgent action is needed to strengthen security and protect Christians and other vulnerable communities,” the statement added.

The bureau reaffirmed Washington’s commitment to working with the Nigerian government to combat terrorism and violent extremism, stressing that Christians and other Nigerians should be able to practise their faith without fear of violence.

The statement followed the July 12 attack on Kum community in Riyom Local Government Area of Plateau State, where nine members of Rev. Dachomo’s extended family, including a two-month-old baby, were killed.

According to the cleric, the attackers, believed to be armed Fulani militias, asked for him by name before opening fire on his relatives.

Dachomo, who serves as Regional Chairman of the Church of Christ in Nations (COCIN) in Barkin Ladi Local Government Area, said his family had repeatedly been targeted because of his outspoken criticism of the violence in Plateau State.

He recalled that his grandmother and an uncle were also killed in previous attacks, adding that days after burying his relatives, he received a written death threat from the same group, warning that he would be their next target.

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Graduation Ceremony Ban: Govt Threatens To Shut Erring Schools, Exempts SS3 Students

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The Anambra State Government has clarified that its indefinite ban on graduation ceremonies applies to all kindergarten, primary and secondary schools across the state, except for students completing Senior Secondary School (SS3).

 

The clarification was contained in a press statement issued on Friday by the Commissioner for Information and Value Reformation, Law Mefor, following what the government described as public enquiries and concerns over the directive.

According to the government, Governor Chukwuma Soludo ordered the suspension of graduation ceremonies to reduce the financial burden imposed on parents by schools.

“The essence is to reduce the financial burden on parents,” the commissioner said.

The government explained that the ban covers all forms of graduation-related events, including “passing out,” “cross over,” and any similar ceremonies organised by schools.

Mefor further stated that the directive applies to both public and private schools operating in Anambra State.

However, he noted that students graduating from Senior Secondary School (SS3) are exempted from the ban.

The commissioner stressed that graduation ceremonies for SS3 students remain optional and, where organised, must not involve any levies or financial demands on students or their parents.

“Graduation ceremonies for students exiting Senior Secondary School are optional and, where carried out, must be conducted without any form of levy or financial demand on students and parents,” he said.

The state government also warned that school proprietors and administrators who violate the directive would face severe consequences.

“Any school management found in violation of this directive will face serious sanctions, which may include the closure of such school,” Mefor stated.

The clarification followed widespread reactions after the state government announced the suspension of graduation ceremonies, with many parents and school owners seeking details on the categories of schools affected and whether any exceptions would be allowed.

Governor Chukwuma Soludo, in October 2025, banned graduation ceremonies and Christmas parties in schools across the state as part of efforts to reduce the financial burden on parents and guardians.

The governor said the policy was designed to make education more affordable and equitable for families while discouraging unnecessary expenses associated with school activities.

Expressing concern over what he described as avoidable financial pressure on parents, Soludo had also directed schools to discontinue the use of textbooks designed for pupils to write in.

“This is to owners and administrators of government, private, and mission schools in Anambra: we have set out some basic standards to ensure that the poor are not made to spend so much just because their children are in school.

“One of the measures includes discontinuing the use of textbooks designed for students to write in. This practice forces parents to buy new textbooks annually.

“Once a child finishes a class, he should be able to pass on his textbooks to his younger siblings,” the governor had said.

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Massive Gridlock As Multiple Accident Leave One Dead On Kara Bridge

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At least, one person has been confirmed dead leaving others with different categories of injury, following an early-morning multiple-car crash along the Kara Bridge, inward Mowe/Ibafo on the Lagos-Ibadan Expressway, which left hundreds of motorists stranded and grounded economic activities.

 

In a detailed report of the incident, the FRSC, Lagos Sector Command, said the first crash occurred at about 12:05 a.m. on the outbound carriageway towards Ibadan, involving five articulated trucks and one Toyota Sienna vehicle.

The FRSC report also said rescue and recovery operations were ongoing when another crash occurred at the inbound carriageway towards Lagos involving a commercial bus.
It added that Lagos State Traffic Management Agency LASTMA officials, FRSC officials, officials of the Lagos State Emergency Management Agency LASEMA, and police operatives were on the ground to manage the situation. Tow trucks were also present as officials continued recovery operations.

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