The Nigerian naira has continued its recent positive run against the British pound, with the currency pair trading around N1,767 to £1 in the official foreign exchange market.

The movement comes amid recent improvements in Nigeria’s foreign exchange liquidity and a relatively stable naira following the Central Bank of Nigeria’s monetary policy adjustment.

Data from the CBN-linked exchange-rate series showed the pound at about N1,767.14 per £1 on October 6, compared with N1,759.83 recorded the previous day.

Despite the short-term fluctuations, the naira has strengthened significantly against sterling compared with earlier in the year, when the pound traded above the N1,900 level.

Market conditions have been supported by stronger foreign-exchange buffers and improved inflows, particularly from the oil and gas sector. These factors have helped improve liquidity and reduce pressure on the naira.

The CBN also recently reduced its Monetary Policy Rate to 23 per cent, a move that lowered the yield advantage previously enjoyed by naira-denominated assets.

Meanwhile, broader international currency movements have continued to influence the pound. Recent market data showed GBP/NGN trading around the N1,757–N1,758 range on October 8.

Analysts will continue to monitor foreign-exchange liquidity, crude oil inflows, monetary policy and global movements in the pound as key factors that could determine the naira’s direction in the coming sessions.

Twenty prospective members of the National Youth Service Corps (NYSC) and one civilian abducted in Imo State have regained their freedom following a coordinated operation involving the military, Department of State Services (DSS), police and other security agencies.

The victims were rescued from the Amakohia-Ubi forest in Owerri West Local Government Area of the state during an intelligence-led operation, according to security sources.

The rescued victims have since been taken to a DSS medical facility in Owerri, where they are receiving medical attention and undergoing necessary checks.

The Director-General of the NYSC, Brigadier General Olakunle Nafiu, visited the rescued victims at the DSS facility. He was accompanied by the Imo State Commissioner of Police, the state Director of the DSS and the Commander of the 34 Artillery Brigade.

The victims were abducted on October 1 while travelling from Ibadan, Oyo State, to NYSC orientation camps in Abia and Akwa Ibom states.

The two buses conveying the prospective corps members were intercepted by gunmen around Umunoha along the Owerri-Onitsha Road in Mbaitoli Local Government Area of Imo State.

Following the incident, security agencies launched a coordinated search-and-rescue operation. Troops of the 34 Artillery Brigade worked alongside the Nigerian Navy, Nigerian Air Force, police, DSS and other security formations in efforts to locate the victims and apprehend the abductors.

Earlier reports indicated that security operatives had located the suspected kidnappers’ hideout through intelligence and drone surveillance but faced difficulties accessing the area because of reported improvised explosive devices.

The operation was subsequently intensified as security agencies deployed additional personnel and operational equipment to reach the victims.

The abduction had generated concern among relatives after reports that the kidnappers demanded ransom for the victims. However, authorities have not publicly provided details on whether any ransom was paid or whether arrests were made during the rescue operation.

Imo State Governor Hope Uzodimma commended the security agencies for their coordinated efforts, as well as the Oyo and Imo State governments for their collaboration during the rescue process.

The rescue brings an end to the immediate ordeal of the 20 prospective corps members and the civilian, who are now receiving medical attention while authorities continue efforts to establish further details surrounding the incident.

The Nigerian Economic Summit Group (NESG) has urged the Federal Government to sustain the momentum of ongoing economic reforms, warning that the country cannot afford to lose the gains achieved so far.

The group said Nigeria must now move beyond economic stabilisation and ensure that reforms translate into productive investment, job creation and improved living standards for citizens.

The NESG made the call as preparations continue for the 32nd Nigerian Economic Summit, scheduled to hold in Abuja from October 26 to 27, 2026.

The summit, themed “Growth That Works: Delivering Jobs, Productivity and Shared Prosperity,” is expected to bring together government officials, business leaders, development partners and other stakeholders to discuss ways of converting economic reforms into measurable outcomes.

According to the NESG, reforms such as exchange-rate unification, the removal of fuel subsidies and banking-sector recapitalisation have begun reshaping Nigeria’s economic landscape and creating a foundation for longer-term stability.

However, the organisation stressed that stabilisation alone would not be sufficient if the benefits did not reach businesses, workers and households.

It said the next phase should focus on increasing productivity, attracting investment, strengthening human capital, creating jobs and improving the business environment.

The group also identified infrastructure, regulatory efficiency and access to investment capital as important areas that require sustained attention if Nigeria is to achieve stronger economic growth.

The upcoming summit will examine these issues under five broad areas: building a job-rich economy, increasing productivity and industrialisation, attracting investment and expanding social protection, strengthening security for economic activity, and spreading growth across states and communities.

The NESG said the objective is to help build a stronger national consensus around moving Nigeria from a period of economic stabilisation towards investment-, productivity- and employment-driven growth.

The organisation also emphasised the need for effective implementation, noting that the success of reforms should ultimately be measured by their impact on productivity, employment and shared prosperity.

The 32nd Nigerian Economic Summit will hold at the Transcorp Hilton in Abuja, with more than 2,000 delegates and over 100 speakers expected to participate.