For those tracking the parallel market (often referred to as Aboki FX), the dollar-to-naira exchange rate on Friday, May 29, 2026, was reported as follows:....KINDLY READ THE FULL STORY HERE▶

Investigations have revealed that the vast forest belts and porous borders spanning Oyo, Osun, Ogun, and Ekiti states have been converted into strategic infiltration routes for bandits and kidnappers entering Nigeria’s South-West region.....KINDLY READ THE FULL STORY HERE▶

Sources, including hunters, local residents, and operatives of the Oodua Peoples Congress (OPC), report that armed criminal groups are fleeing intensified military offensives in the North and exploiting the weak surveillance within these expansive forest reserves. These contiguous routes are used to launch coordinated attacks and abduct residents before the perpetrators vanish into the difficult-to-police terrain.

Specifically, the Old Oyo National Park, which links Oyo and Kwara states, alongside the forests connecting Osun and Ekiti via the Imesi-Ile axis, have emerged as severe security liabilities. While security forces have managed to dislodge some suspects, the sheer scale of these forest reserves makes effective monitoring nearly impossible. Areas once designated for agriculture and hunting are now reported to be safe passages for groups involved in kidnapping and violent crime.

This security deterioration coincides with a surge in violent attacks and abductions across Oyo, Ogun, Ondo, Osun, and Ekiti states. A critical example occurred on May 15, when bandits targeted three schools in the Oriire Local Government Area of Oyo State, killing teachers and abducting 47 pupils and staff members. The attackers reportedly used the Old Oyo National Park corridor for their escape, reinforcing fears about the vulnerability of rural communities.

Spanning approximately 2,512 square kilometers, the Old Oyo National Park is part of a massive vegetation corridor that stretches from Kainji National Park in Niger State, through Kwara State, and into the South-West. Security operatives, speaking anonymously, confirm that criminals are exploiting this contiguous density to move undetected and transport victims between locations.

Confirming the origin of these threats, the Defence Headquarters recently attributed the Oyo school abductions to terrorists from the Jama’atu Ahlis Sunna Lidda’awati wal-Jihad (JAS) group. Maj. Gen. Michael Onoja, Director of Defence Media Operations, stated that these groups have been displaced from other regions by high-intensity military operations and are now moving into new territories.

The Central Bank of Nigeria (CBN) has extended the enforcement deadline for its mandatory PoS geo-fencing policy to August 1, 2026. Originally introduced in August 2025, this initiative requires all PoS terminals to be geo-tagged to enhance transaction monitoring and combat fraud. In a recent circular signed by Rakiya Yusur, Director of the Payments System Supervision Department, the CBN also announced an increase in the allowable geo-fence radius from 10 metres to 70 metres to provide operators with more flexibility. Financial institutions—including banks, mobile money operators, and super agents—must submit proof of compliance by July 31, 2026, and resolve any outstanding technical issues with the National Central Switch before the new enforcement date.....KINDLY READ THE FULL STORY HERE▶

In a bid to support smoother implementation, the CBN has pushed back the enforcement of its PoS terminal geo-fencing regulations to August 1, 2026. The policy, which aligns Nigeria’s payment systems with ISO 20022 standards, aims to secure digital payments by restricting terminals to registered locations. Significant updates to the framework include expanding the terminal radius from 10 metres to 70 metres. The regulator noted that this extension follows stakeholder consultations and is intended to give financial institutions adequate time to complete necessary technical upgrades. Affected entities are mandated to provide evidence of compliance by the end of July 2026.

Option 3: Short and Direct

The Central Bank of Nigeria has granted financial institutions more time to comply with its PoS geo-fencing requirements, setting the new enforcement date for August 1, 2026. The updated policy now permits a 70-metre radius for terminals, a significant increase from the previous 10-metre limit. Aimed at reducing fraud and improving oversight, the measure requires all relevant financial institutions to ensure their terminals are properly geo-tagged. Proof of compliance must be submitted to the CBN by July 31, 2026, alongside the resolution of any pending operational challenges.