ICPC WRITES TO CONFIRM THAT IT RECEIVED A FORMAL PETITION TODAY TUESDAY 16TH DECEMBER, 2025 FROM ALHAJI ALIKO DANGOTE THROUGH HIS LAWYER. (PHOTO). #PRESS RELEASE

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 INDEPENDENT CORRUPT PRACTICES AND OTHER RELATED OFFENCES COMMISSION (ICPC) Tuesday 16th December, 2025 MEDIA RELEASE The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to confirm that it received a formal petition today Tuesday 16th December, 2025 from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated. John Okor Odey  Spokesperson  ICPC
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NIGERIAN NAIRA FALLS TO RECORD LOW ON OFFICIAL MARKET.(PHOTO).

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Nigerian naira falls to record low on official market

(Reuters) - Nigeria's naira dropped to a record low against the dollar on the official market on Tuesday in thin trading, swinging widely to levels seen on the unofficial parallel market, where the currency trades freely.

The naira fell as low as 1,248 to the dollar, during mid-day trading, LSEG data showed after it opened at 927 naira on Tuesday. It later recovered to 845 naira.

Central Bank of Nigeria Governor Olayemi Cardoso has said he would allow market forces to determine exchange rates while setting clear, transparent and harmonised rules governing market operations.

The comments and chronic dollar shortages on the official market have prompted the naira's official exchange rate to drift towards the parallel market level.

The currency sold at around 1,225 naira on the parallel market on Tuesday, while it was quoted at 1,002.50 naira on the one month non-deliverable forwards market .

 

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