The Nigerian Ports Authority (NPA) has appointed new general managers to support the administration of Abubakar Dantsoho, the authority’s managing director (MD).

In a statement on Friday, NPA said Ikechukwu Onyemekara was named the general manager, corporate and strategic communications division.

“The appointments which take immediate effect reorganized some Divisions to align with the direction of the Federal Ministry of Marine & Blue Economy retained Dr (Mrs) Chinwe Nwokolo, Pharmacist Hadiza Sani and Mr. Babatunde Gbotolorun as General Managers Medical, Abuja Liasion and ICT Divisions respectively,” NPA said.

Other appointees named to head various divisions include Jerome Angyunwe, Richard Unde, Mukhtar Isa, Anthony Edosomswan, Dapo Adekunle, Victor Gofwan, Rabiu Dambatta, Priscilla Maduka, Sarah Ballah, Zainab Dantiye, Anas Suleiman, and Adeayo Oni.

Also appointed are Abdulkadir Gusau, RAB Salau, Nurrudeen Abdulkadir, Seyi Iyawe, Ethel Uduehi, Nansel Zhimwan, Ahmad Wanka, Fatai Oladapo, Ibrahim Lukman, Abdul Isah, and Charles Okaga.

NPA said the appointments were made towards repositioning “Nigeria’s foremost trade facilitation platform for greater efficiency and renewed contribution to the national economy”.

Speaking after the appointments, Dantsoho said the changes represent NPA’s deliberate strategy to deploy the wealth of experience of the appointees to national advantage.

Dantsoho was appointed on July 12.

The federal government says Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira.

Wale Edun, minister of finance and coordinating minister of the economy, in a statement on Saturday, announced that in line with the federal executive council (FEC) directive, the sale of the products in naira commenced on October 1.

“Following a meeting of the Implementation Committee, Chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy to conduct a post-commencement review of the Crude Oil and Refined Products Sales in Naira initiative, the commencement of this strategic initiative was affirmed by key stakeholders,” he said.

“The meeting brought together prominent figures, including the Honourable Minister of State, Petroleum (Oil), the Special Adviser to the President on Revenue, the Special Adviser to the President on Energy, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the representative of the Chairman of Dangote Group, the Vice President of Dangote Group, and the management of the Nigerian National Petroleum Company (NNPC), led by the Group Chief Executive Officer (GCEO), Chief Financial Officer (CFO), and Executive Vice President (Downstream).”

According to the statement, the strategic initiative and bold step taken by President Bola Tinubu-led administration is expected to have a lasting impact on Nigeria’s economy, enhancing growth, stability, and self-sufficiency.

The ministry said the country continues to navigate the complexities of global markets, and the strategic move positions Nigeria for success in the years to come.

On July 29, the FEC approved a proposal by Tinubu directing the NNPC to sell crude oil to Dangote Petroleum Refinery and other refineries in naira.

The federal government said the sale of crude oil to the Dangote refinery and other refineries in naira would commence on October 1.

On September 30, Eche Idoko, publicity secretary of Crude Oil Refinery-owners Association of Nigeria (CORAN), said the sale will start with refineries producing petrol.

Three days later, the Nigerian Ports Authority (NPA) said it had commenced implementation of the federal government directive to coordinate service provision from all stakeholders for the smooth sale of crude oil in naira to the Dangote refinery.

The Central Bank of Nigeria (CBN) says it sold a total of $543.5 million in the Nigerian foreign exchange market (NFEM) to authorised dealer banks in September.

In a statement signed by Omolara Duke, director of, financial markets department, on Friday, CBN said the foreign exchange (FX) was sold to the authorised dealers from September 6 to 30 in 11 dealing days.

“The Central Bank of Nigeria (CBN) sold a total of US$543.5 million (Five Hundred and Forty- Three Million, Five Hundred Thousand US Dollars Only) from September 06-30, 2024, to Authorized Dealer banks through two-way quotes at the Nigerian Foreign Exchange Market (NFEM) on 11 dealing days,” CBN said.

“The FX spot sales were to reduce observed market volatility driven by high demand for commodity importation and seasonal demand for FX. The value dates for all the transactions. were T+2.”

A breakdown summary of the sale shows that on September 6, $39,000,000 was sold at a range of N1,580-N1,605/$.

On September 9, $66,000,000 was sold at a range of N1,570-N1,585/$; on September 11, $77,000,000 was sold at a range of N1,540-N1,575/$; while on September 13, $46,000,000 was sold at a range of N1,540-N1,575/$.

Also, on September 18, $24,000,000 was sold at a range of N1,530-N1,540/$; on September 19, $28,000,000 was sold at a range of N1,540-N1,555/$; on September 20, $31,000,000 was sold at a range of N1,540/-N1,545/$; and on September 23, $17,500,000 was sold at N1,540/$.

More sales were made on September 26, with $80,000,000 sold at a range of N1,570-N1,580/$; on September 27, $79,000,000 was sold at a range of N1,530-N1,580/$; and on September 30, $56,000,000 was sold at the range of N1,540/S.

The apex bank said the information on the sale is to educate and provide guidance to the general public on the pricing of FX by taking a clue from the range of rates at which FX was sold by the CBN to authorised dealer banks.

CBN also said it will continue to facilitate the supply of FX into the NFEM as part of its holistic FX management strategy.

On August 11, the CBN said it sold foreign exchange (FX) to banks worth $876.26 million at N1,495 per dollar.

Two months ago, the apex bank sold foreign currencies worth $148 million in the NFEM to authorised dealer banks between July 22 and 23.