Tessland Studio

17/09/2025

“It is only when we take chances, when our lives improve. The initial and the most difficult risk that we need to take is to become honest.

Tessland Studio

17/09/2025

Naira vs Cedi: Which Currency Holds More Power?

The Nigerian Naira (₦) and the Ghanaian Cedi (₵) are two of West Africa’s most widely traded currencies. Both play crucial roles in their respective economies, but when placed side by side, key differences emerge in terms of strength, purchasing power, and regional influence.

Exchange Rate Strength

As of today:

1 Ghanaian Cedi ≈ ₦122

1 Nigerian Naira ≈ ₵0.0082

This shows that the Cedi is “stronger” in nominal terms because a single Cedi can be exchanged for over a hundred Naira. By pure exchange rate, the Cedi appears more powerful.

Purchasing Power at Home

However, “strength” is not just about exchange rates. What matters most for citizens is purchasing power — how much food, goods, or services you can buy locally.

Nigeria: Despite the Naira’s weaker exchange rate, everyday items such as food, transportation, and housing are often cheaper in Nigeria compared to Ghana, thanks to its large domestic market and some local production. But inflation and currency instability reduce its real purchasing power.

Ghana: The Cedi buys more abroad than the Naira, but inside Ghana, high inflation and import costs make many goods expensive. This means that while the Cedi looks stronger, its purchasing power for average households is often limited.

How Powerful Are They Against Each Other?

In direct terms, the Cedi is far more powerful than the Naira in exchange value — it takes over ₦100 to equal ₵1. But in terms of daily living costs and local purchasing power, the difference is less clear: Nigerians may spend fewer Naira on some basic goods than Ghanaians spend in Cedis.

Still, when it comes to international trade, imports, and regional transactions, the Cedi holds more weight because it retains higher value against global currencies like the US Dollar, compared to the fast-depreciating Naira.

Conclusion

Stronger by exchange rate: Ghanaian Cedi.

Better in real local purchasing power: Neither currency dominates — both struggle with inflation, though Nigeria’s larger economy sometimes allows cheaper domestic goods.

Overall power against each other: The Cedi clearly outweighs the Naira in exchange value, but both currencies face serious challenges in sustaining purchasing power for their citizens.

Tessland Studio

17/09/2025

16/09/2025

WHAT IS THE “DOLLAR SUBSIDY” / FOREX SUBSIDY IN NIGERIA

When people talk about a “dollar subsidy” or forex subsidy in Nigeria, they generally mean government intervention to keep the price of foreign currency (especially the US dollar) artificially low or more favorable than what a fully free market would set. This might include government selling dollars at a cheaper rate to certain importers, or maintaining multiple exchange rate windows, or using reserves to support the naira’s value.

Has Nigeria Stopped Subsidizing the Dollar? When?

Yes — the government has formally ended the official foreign exchange subsidy policy. Key points:

In July 2023, the Central Bank of Nigeria (CBN) announced terminating the FX policy that was favorable or segmented for certain groups.

However, while the policy was declared ended in mid-2023, the full implementation or practical end came somewhat later, particularly in February 2024, when the gap between the official and parallel market exchange rates narrowed significantly — which indicates the subsidy effects were being phased out.

Also, in June 2023, the CBN discontinued providing a subsidized FX rate for overseas students (Form A, school fees, etc.). That was one concrete example of removing a specific FX subsidy.

So in summary: yes, the subsidy has been stopped: officially around mid-2023, and more fully in effect by early 2024. But remnants (interventions, efforts to stabilize, etc.) remain, which sometimes get interpreted by the public as subsidy, or “support” for the naira.

Why It Matters

The forex subsidy was very costly: the World Bank reported Nigeria lost about N13.2 trillion from 2021-2023 due to how it managed foreign exchange under subsidy-like arrangements.

Ending the subsidy is part of wider reforms: liberalizing the FX market, unifying exchange rates, stopping central bank financing of fiscal deficit, etc.

Naira-to-Dollar Rate as of Today (Mid-September 2025)

Here are the prevailing rates:

Official / mid-market exchange (banks, currency converters, etc.): about ₦1,497 to ₦1,504 per US$1 depending on the source.

Black market / parallel market rate: around ₦1,535 per US$1 (selling rate) or ₦1,520 per US$1 (buying) in some reported sources.

Tessland Studio

16/09/2025

DSS Charges Omoyele Sowore Over Anti-Tinubu Posts

Abuja, September 16, 2025 — The Department of State Services (DSS) has filed criminal charges against activist and publisher Omoyele Sowore at the Federal High Court in Abuja, accusing him of defaming President Bola Ahmed Tinubu through social media posts.

Who is Charged

Alongside Sowore, the DSS has named X Corp (formerly Twitter) and Meta Platforms Inc. (owners of Facebook) as co-defendants.

What the Charges Allege

Sowore is accused of using his official X handle () and his page to post statements on August 25 and August 26, 2025, describing President Tinubu as a “criminal” and alleging he lied about corruption being eradicated under his administration while in Brazil.

The DSS claims these statements are false and were made for the purpose of causing public disorder and undermining law and order.

Legal Basis

One of the principal laws cited is the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024, particularly Section 24(1)(b), which deals with the use of false online statements that can disrupt public peace.

The charges also invoke sections of the Criminal Code Act relating to defamation (Section 375) and to publications intended to incite fear or disturbance (Section 59).

The Charge Sheet & Counts

There are five counts in total, including:

1. Posting on X accusing Tinubu of lying about ending corruption.

2. Repeating the same on Facebook.
3-4. Defamatory material against the person and reputation of the President.

3. Publishing false information with intent to cause public fear or disturbance.

Court Process

The documents were filed by prosecutors from the Federal Ministry of Justice, including the Director of Public Prosecutions.

As of the filing, the case has not yet been assigned to a specific judge, and no arraignment date has been fixed.

Response from Sowore

Sowore has defended his posts, asserting his right to criticize public figures and hold leaders accountable. He has reportedly rejected requests to delete the posts.

Tessland Studio

16/09/2025

“Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.”

16/09/2025

“Your talent determines what you can do. Your motivation determines how much you’re willing to do. Your attitude determines how well you do it.”

15/09/2025

Manchester United Struggle Under Ruben Amorim as Losses Outweigh Wins

The Ruben Amorim era at Manchester United has been far from the revival many supporters hoped for. Since his appointment, the Red Devils have endured a turbulent run of results, with defeats outweighing victories across domestic and European competitions.

Amorim was brought in with the promise of fresh ideas, tactical flexibility, and the ability to rebuild a struggling squad. However, inconsistency has defined his tenure. United have shown flashes of attacking brilliance but remain vulnerable defensively, often dropping crucial points in games they were expected to dominate.

Statistics underline the crisis: Manchester United have suffered more losses than wins under Amorim, a record that highlights the ongoing instability within the club. Fans and pundits alike have raised questions about whether the Portuguese manager has found the right balance between youthful energy and experienced leadership.

While there is still time for Amorim to turn the tide, pressure is mounting quickly at Old Trafford. With rivals pushing further ahead and Champions League qualification at risk, the manager faces a defining period where his future may hinge on finding a consistent formula to stop the losing trend.

Tessland Studio