BRIEF: The naira surges to a three-year black market high of N1,345. Iyabo Obasanjo warns Solomon Adeola against “opportunistic politics” ahead of 2027. Nigeria’s 2026 World Cup hopes rest on a ruling by FIFA, and a profit squeeze forces IHS Towers into asset sales.
The naira recorded its strongest convergence in two years on Thursday as the gap between the official and parallel markets narrowed to 0.29 per cent. The currency rallied to a three-year high of N1,345 per dollar in the black market, gaining N25 or 1.86 percent from N1,370 on Wednesday, according to BusinessDay data.
However, at the Nigerian Foreign Exchange Market window, figures from the Central Bank of Nigeria showed the naira weakened slightly by N3.24 or 0.24 per cent to close at N1,341.35 per dollar, compared to N1,338.11 the previous day.
Iyabo Obasanjo warns Yayi against ‘opportunistic politics’ in Ogun governorship race
Iyabo Obasanjo, daughter of former President Olusegun Obasanjo, has thrown a sharp warning into the build-up to the 2027 Ogun State governorship race, cautioning Senator Solomon Adeola against what she termed “opportunistic politics.” She warned that Ogun’s top seat must not be treated as a retirement plan for politicians seeking relevance after building their careers elsewhere.
Speaking during a live programme on Eagle 102.5 FM in Ilese Ijebu, Iyabo urged voters to scrutinise aspirants carefully, particularly those attempting to rebrand themselves locally after rising politically outside the state. She stressed that leadership in Ogun should be driven by commitment and grassroots connection, not convenience or political calculation.
2026 World Cup: Nigeria’s fate now lies with FIFA – Shehu Dikko
Chairman of the National Sports Commission, Shehu Dikko, has declared that the country’s fate rests squarely with FIFA and its independent judicial bodies, following an unresolved petition that has thrown Nigeria’s qualification hopes into uncertainty.
Dikko disclosed after a high-level meeting with President Bola Tinubu at the Presidential Villa in Abuja, where he briefed the President on the lingering case filed by the Nigeria Football Federation. He said until FIFA delivers its verdict, Nigeria’s path to the 2026 tournament remains uncertain.
IHS Towers’ profit squeeze forces asset sales as MTN steps in to absorb $4.8bn debt burden
Years of aggressive, debt-fuelled expansion have caught up with IHS Holding Limited, pushing the Africa-focused tower operator into a sweeping restructuring that has now culminated in a takeover by MTN Group. The deal shifts nearly $4.8 billion in infrastructure-linked debt onto MTN’s balance sheet.
The transaction values IHS at about $6.2 billion on an enterprise basis, with MTN set to pay roughly $2.2 billion in cash to acquire the remaining 75 percent stake it does not already own.
AI-driven memory rally hits $160bn as Nigeria faces 20% jump in phone prices
A staggering $160 billion rally in global AI-linked memory stocks is now rippling far beyond Silicon Valley and Nigerian consumers may soon feel it in their pockets. Industry analysts warn that smartphone prices in Nigeria could climb by as much as 20 per cent if mounting supply pressures in the semiconductor market persist.
At the centre of the squeeze is a surge in demand for memory chips, particularly DRAM and NAND, the critical components that power smartphones, laptops and even modern vehicles. While global attention has focused on advanced AI processors, memory has quietly emerged as the real bottleneck in the semiconductor chain, tightening supply and pushing costs downstream to emerging markets like Nigeria.
