Naira Exchange Rate Today: Naira Falls to N1,600/$ in Official Market

The Nigerian naira on Thursday, April 3, 2025, depreciated to N1,600 per US dollar in the official Nigerian Foreign Exchange Market (NFEM), marking its lowest point in over three months.

According to data from the Central Bank of Nigeria (CBN), the official exchange rate rose from N1,569/$ to N1,600/$, indicating a N31 loss in the naira’s value within 24 hours.

The parallel market exchange rate also saw a decline, with the naira falling to N1,565 per dollar from N1,555/$ the previous day.

This latest dip widens the gap between the official and black market rates to N35, compared to just N14 earlier in the week.

Key Highlights:

• Official CBN rate: N1,600/$ (from N1,569/$)
• Black market rate: N1,565/$ (from N1,555/$)
• Rate gap: N35 per dollar

What This Means for Nigerians

The continued depreciation of the naira is expected to further impact import costs, inflation, and purchasing power. Individuals and businesses depending on foreign exchange may face higher expenses.

Stay tuned for more updates on the Naira to Dollar exchange rate and other important financial news in Nigeria.

Nigerian Lives: Three People Share Ghost Stories That Still Haunt Them

Every week, Culture Custodian engages with Nigerians, inviting them to share their personal experiences. This time, three individuals recount their eerie encounters with the supernatural—experiences that convinced them ghosts and paranormal forces are real.

Julie’s Story: Footsteps on the Ceiling

As a child, Julie often had sleepovers with her friend Gina. One night, she decided to visit Gina’s house in Maitama. After a fun-filled day, they fell asleep, but Julie woke up to the sound of footsteps. Expecting Gina’s parents, she was startled when the noise came from above the ceiling—despite them being on the top floor. Turning on the light, she saw footprints on the ceiling, as if someone had walked upside down. Gina, surprisingly unfazed, revealed that her father once mentioned the house was haunted 30 years ago, though they had prayed about it. Julie never spent the night there again and struggled with a fear of sleeping alone for a long time.

Shola’s Story: The Classroom Phantom

As an architecture student, Shola often stayed late in class working on technical drawing assignments. One evening, while finishing his work during Night Prep, he heard someone chuckling behind him. Assuming it was younger students playing pranks, he ignored it until he saw a figure peeking into the room. Frustrated, he stepped outside to confront the prankster but saw someone dart into the neighboring classroom. When he followed, he heard voices inside, yet the room was empty. Terrified, he ran out, and his friends only believed him when they later had a similar encounter. It seemed as though something had mimicked their voices.

Samira’s Story: A Face from the Grave

Samira’s seemingly normal evening turned into a nightmare while walking home with her boyfriend in Kaduna. She suddenly spotted a familiar face—a young man from her neighborhood who had died three years earlier in a tragic electrocution accident. Certain it was him, she told her boyfriend, who decided to approach the man to prove her wrong. When he tapped him on the shoulder and pointed towards Samira, the figure turned, made eye contact, and instantly vanished. Overcome with fear, she ran for her life. Though she had always dismissed ghost stories, this experience changed her beliefs forever.

These accounts are based on real-life events, with names changed to protect the identities of those involved.

Grace Okogwu — Childhood Fears and Folktales: Madame Koi-Koi and Other Spine-Chilling Legends

By Grace Okogwu

“No one fears ghosts more than those who don’t believe in them.” — Chinese Proverb

Growing up is never easy, but childhood in Nigeria comes with its own set of unique challenges. Beyond the discipline of strict parents, eerie folklore and unsettling myths filled our young minds with fear, leaving lasting impressions that some still carry into adulthood.

From dark, shadowy giants to the infamous Madame Koi-Koi—a restless spirit searching for her lost shoe—these stories were told so vividly that they became impossible to ignore. Even now, some people remain convinced that these supernatural beings exist.

Most of these tales spread through boarding schools, day schools, and family gatherings, passed down across generations. While details varied by region, certain legends remained consistent across communities.

Famous Nigerian Folklore

Madame Koi-Koi (The Phantom in Heels)

One of the most feared figures among schoolchildren, Madame Koi-Koi was said to haunt boarding schools. The story described her as a ghostly woman who had lost one of her high-heeled shoes and could be heard roaming hallways at night, the eerie “koi-koi” sound of her footsteps striking fear in students. Some versions even claimed she kidnapped or punished those who encountered her.

Ef’oru Foloru

This spirit was believed to appear at night, disturbing students who stayed up late studying. It served as a chilling reminder that the nighttime belonged to forces beyond human control.

Bush Baby

A common myth in boarding schools, the Bush Baby was rumored to be a half-human, half-animal creature that cried like a human infant to lure unsuspecting victims. Some stories suggested it would sneak into dormitories to braid young girls’ hair against their will. Even today, some claim to have heard its haunting cries at night.

Willi-Willi

Feared among children, Willi-Willi was a ghostly masquerade figure in Nigerian folklore, known for its unpredictable and malevolent nature.

Childhood Myths We Once Believed

The Nigerian Tooth Fairy

Unlike the Western tradition of placing a lost tooth under a pillow, Nigerian children were told to throw their fallen teeth onto rooftops. This, we believed, would ensure a new tooth grew in its place.

Swallowing Fruit Seeds

Many children were warned that swallowing a fruit seed—whether from an orange, guava, or watermelon—would result in the plant growing on their heads. The fear of walking around with a tree sprouting from one’s scalp was enough to make kids spit out seeds immediately.

Transformation into Animals or Objects

Children were often warned against picking up items from the roadside, as it was believed this could turn them into tortoises, yams, or even Naira notes. Nollywood movies and even reported news stories reinforced these fears, making them seem all too real.

Outgrowing These Childhood Fears

Although we may laugh at these myths now, childhood fears have a way of shaping us well into adulthood. Many of the anxieties we experience today stem from the fears we encountered as children—just in different forms. However, over time, we learn to distinguish between real threats and the imaginative tales that once kept us up at night.

While Madame Koi-Koi and the Bush Baby may no longer haunt our dreams, the memories of these childhood stories remain, serving as nostalgic reminders of the fears that once ruled our imaginations.

10 Spine-Chilling Paranormal Experiences Shared by Nigerians

Many people believe in the supernatural, while others dismiss it as mere superstition. However, countless individuals claim to have encountered unexplainable phenomena. Here are ten eerie true-life accounts from real Nigerians—whether you believe them or not is up to you.

1. ZaynabTyty’s Encounter at Oshodi

At 13, Zaynab was on her way to a lesson when she witnessed something terrifying—a man walking on his head. She screamed, but by the time others looked, the man had vanished. While most dismissed her story, an older woman believed her. The unsettling experience has left her avoiding Oshodi Market to this day.

2. Lekan’s Night Visitor

Lekan recalls waking up to see a strange dwarf with a reddish-yellow face visiting his room at night. Disturbed by these recurring appearances, he told his mother, who advised him to sleep in her room. That night, he woke up screaming about a snake, though he had no memory of it. To this day, he remains terrified of snakes.

3. Joey’s Haunted Basketball Court

As a student at Federal Government College, Okigwe, Joey once heard the sounds of a basketball game—grunts, bouncing balls—early in the morning. But when he and his friends approached, the court was empty.

4. Nana’s Terrifying Market Scene

While heading to Computer Village in 2012, Nana witnessed a man touching a boy’s head during an argument. Suddenly, the boy collapsed and started scrubbing his mouth against the ground, bleeding profusely. As bystanders rushed to help, the man casually walked away.

5. Ayomide’s Shape-Shifting Woman

One cold, windy night, Ayomide woke up to shut her window. From her room, she saw a ragged woman carrying a calabash, rubbing something onto an unfinished building. As she turned around, the woman transformed into a dog.

6. Tayo’s Father and the Ghostly Girl

In the 1970s, Tayo’s father and a friend met a beautiful woman at a bar in Ibadan. She complained of the cold, so his friend lent her his jacket. The next day, they visited the address she gave them. An old woman answered and, after confirming who they were looking for, led them to the backyard—where they found a grave with the girl’s name on it. His friend’s jacket was neatly folded on the grave. Shortly after, he fell seriously ill and developed strange boils all over his body.

7. Hawwa’s Grandmother and the Bottomless Oil Can

Hawwa’s grandmother once sold palm oil in precolonial Nigeria. One day, a mysterious customer brought a tiny can to buy oil. Without realizing it, she kept pouring—filling an entire liter into the small container. Suddenly, she heard her own mother’s voice warning her to run. When she looked up, the customer had vanished. She never sold palm oil again.

8. Chidu’s Encounter with an Unsettling Woman

As a student at Federal Government Girls College, Umuahia, Chidu and her friends once saw an eerie old woman near the abandoned carpentry shed of a former school worker. The woman asked for help carrying her load—but before she could say more, the students ran for their lives.

9. Tope’s Bewitched Teacher

At Mayflower School, a notoriously strict teacher once flogged a student. Soon after, he began acting strangely—wandering the school, picking up trash, and refusing to stop. Another teacher intervened, using what some believe was a counter-charm. When the spell broke, the teacher had no memory of why his hands were full of garbage.

10. Osagie’s Vanishing Arm

In 2004 at Challenge Bus-Stop, Ilorin, Osagie witnessed a disturbing incident. A young man rudely elbowed an elderly man while trying to enter a taxi. When confronted, the young man arrogantly threatened to slap the old man. The elder dared him to try. As the man raised his hand, his entire arm vanished, leaving only his palm attached to his shoulder. Osagie ran for over a kilometer in shock.

These eerie tales, whether real or exaggerated, offer a glimpse into the mysterious and often chilling side of Nigerian folklore and urban legends.

Exploring Nigeria’s Haunted Sites: Chilling Legends and Ghostly Encounters

Are you ready to uncover the eerie side of Nigeria? Journey with us as we explore some of the country’s most haunted locations, where chilling legends and ghostly tales have been passed down for generations. From deserted mansions to bustling marketplaces, these places are rumored to be inhabited by restless spirits. Whether you believe in the supernatural or not, the stories behind these haunted sites are sure to intrigue you.

Tarkwa Bay

Tarkwa Bay Beach in Lagos is a popular tourist spot known for its scenic beauty and calm waters. However, local folklore tells a more chilling tale—one of a young girl who drowned there years ago. According to legend, she was playing by the shore when a strong current pulled her under, despite desperate rescue attempts.

Since her tragic passing, visitors have reported sightings of a ghostly girl in a white dress, seen crying or screaming along the shoreline. Some claim to feel an eerie presence, even in broad daylight, while others report unexplained sounds and objects moving on their own. While skeptics dismiss these accounts as mere superstition, many locals avoid Tarkwa Bay at night, believing the spirit lingers as a cautionary reminder of the ocean’s dangers.

The Presidential Hotel, Port Harcourt

A symbol of luxury in Port Harcourt, the Presidential Hotel is renowned for its comfort and rich history. However, it is also rumored to be haunted. Built in the 1980s, the hotel quickly became a hotspot for business travelers and tourists. Yet, over the years, unsettling stories began to emerge.

Guests have reported hearing eerie noises, feeling sudden chills, and even witnessing ghostly figures in the hallways. Some believe the hotel was constructed over an old cemetery, leading to speculation that spirits from the past still roam its premises.

In 2018, a devastating fire broke out, claiming four lives. Though officially attributed to an electrical fault, some believe it was the work of vengeful spirits. Despite these haunting rumors, the hotel remains operational and continues to attract visitors—many of whom remain wary of its ghostly past.

Ogbomoso Girls School

Established in the early 1900s, Ogbomoso Girls School in Oyo State is one of Nigeria’s oldest all-girls institutions. Yet, beyond its academic legacy lies a darker reputation—it is considered one of the country’s most haunted sites.

During the Nigerian Civil War, the school served as a makeshift hospital, and many soldiers and civilians lost their lives there. Additionally, rumors persist of tragic student deaths, including suicides, further fueling the belief in paranormal activity.

One of the most infamous tales is that of the “Headless Teacher”—a strict educator allegedly beheaded by students in the school garden. According to legend, her ghost still roams the premises, searching for her lost head.

The dormitories are said to be particularly eerie, with reports of ghostly apparitions, unexplained footsteps, and even physical encounters with unseen entities. While some dismiss these stories as student-generated myths, many who have spent nights there insist something supernatural lingers within the school’s walls.

The Ogunpa River

Flowing through Ibadan, the Ogunpa River is steeped in eerie folklore. Many believe the spirits of enslaved people, who perished there, still haunt its waters, seeking justice for past injustices.

The river is also said to be home to mystical water spirits, capable of luring unsuspecting individuals to their doom. Local residents often warn against swimming in the river or venturing near it after dark, fearing the spirits are most active at night.

Despite the warnings, some continue to visit the river, either out of curiosity or for spiritual rituals. Reports of disappearances near the water only add to the belief that the Ogunpa River remains a place of supernatural activity.

Final Thoughts

Nigeria’s rich history and cultural heritage include a wealth of ghost stories and haunted locations. Whether it’s the spectral presence at Tarkwa Bay, the eerie happenings at the Presidential Hotel, the ghostly legends of Ogbomoso Girls School, or the restless spirits of the Ogunpa River, these tales continue to captivate and unsettle those who hear them.

For believers and skeptics alike, these stories offer a fascinating glimpse into the supernatural folklore that shapes Nigeria’s diverse traditions.