Leaders should focus on policies and decisions that would have greater and long-lasting impacts, especially around technological adoption and effective implementation of the AfCFTA. Current exchange rate US DOLLAR (USD) to NIGERIA NAIRA (NGN) including currency converter, buying & selling rate and historical conversion chart. Displaying 1 - 20 out of 76 websites Dollar Tree, Inc.: Floral Supplies, Party Supplies, Cleaning Supplies dollartree.com add to compare Buy bulk Dollar Tree products! While his company got 2.5 billion naira from the central bank’s coronavirus intervention fund, he has only received $80,000. The bank is praying that the Supreme Court reinstate the interlocutory orders made by the Trial Court on December 24, 2020, thereby overriding the judgement of the Appeal court en route. Total forex trading at the NAFEX window in the month of September was about $1.98 billion, compared to $843.97 million in August. The exchange rate disparity between the parallel market and the official market is about N80.83, representing a 17% devaluation differential. The external reserve has risen to $36.464 billion as of January 19, 2021. Digital transformations as well as AfCFTA are considered necessary for the fast recovery of the African economies. According to africanews, "For the first year, they paid N80 billion, after paying the initial N50 billion, and they will have to pay for three years until they will complete the N330 billion". Exchange rates are updated every 15 minutes. Chike is a senior member of the Nairametrics Editorial Team. The United States Dollar is also known as the American Dollar, and the US Dollar. The opening indicative rate was N394.17 to a dollar on Wednesday, representing a 21 kobo drop when compared to the N393.96 that was recorded on Tuesday, January 19, 2021. googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. Please, Nairametrics, hire better writers. Section 12 Sub-sections (1) to (5), CBN Act of 2007 (Ammended) The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394.17 to a dollar. Expressing dissatisfaction over the ruling by the appeal court, Access Bank, through its Solicitors, Kunle Ogunba and Associates maintained that the learned justices of the court erred in law through the suspension of the interlocutory orders made by the trial judge at the Federal High Court. 4 of 1997,No. READ: FIRS hits 98% of target as it collects N4.95 trillion for 2020 fiscal year, READ: Naira falls at black market despite over 100% improvement in dollar supply, READ: Naira falls at NAFEX window despite 56.6% improvement in dollar supply. Festus Yusuf Daudu. Also, view Naira to Dollar currency charts. Some members of MPC of the CBN have expressed serious concerns over the increasing demand pressure in the country’s foreign exchange market. However, the initial US Dollar rate was noted as ₦483 at the beginning of last week on. However, during intraday trading, the exchange rate traded for as high as N415.76/$1 the highest intraday trading tracked by Nairametrics. Learn how your comment data is processed. 2,500,000.00 NGN = 6,557.38 USD Follow news in the Economic Calendar Currency converter - Light Version Here you are getting today's value of two million and five hundred thousand Nigerian naira to US Dollar . On January 18, 2021, the exchange rate between the naira and the dollar appreciated closing at N393.83/$1 at the NAFEX (I&E Window) where forex is traded officially.. Our currency rankings show that the most popular Nigeria Naira exchange rate is the USD to NGN rate. Festus Yusuf Daudu said: Having more Base Transceiver Stations (BTS) is quite imperative for driving an improved broadband/telecoms service delivery to Nigerian subscribers. The apex bank in the circular said that the measures were intended to promote transparency, grow diaspora remittances and significantly improve foreign exchange inflows into Nigeria. His deal with UBA is said to be worth over 3 million US Dollars. However, Zlatan Ibile is more richer than with $1.1 million dollars in 2020. Explore Data on the Nairametrics Research Website, READ: Naira stabilizes at forex markets as CBN moves to boost liquidity, Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. The opening indicative rate was N392.50 to a dollar on Thursday. This they believe will help to stabilize the exchange rate and discourage hoarding. The CBN has sold over $1 billion to BDCs since they resumed forex sales on Monday, September 7, 2020. This represents a 4 kobo gain when compared to the N392.54 that was recorded on Wednesday. The currency code for Nairas is NGN, and the currency symbol is ₦. 1 Billion Dollars In Naira sites: 1 Billion Dollars In Naira search in title. MTN pays additional 30 billion Naira This represents a N15 gain when compared to the N485/$1 that it exchanged for on Wednesday, December 3. Nairametrics had earlier reported that the Court of Appeal had suspended the Mareva injunction, and subsequently ordered the opening of Seplat’s corporate offices. READ: The dangling fate of indigenous oil upstream operators. Access Bank has expressed its displeasure over the ruling by the Court of Appeal which lifted the Mareva injunction against Seplat Petroleum. Advertisement. From the hard lessons of the COVID-19, African leaders should prioritize scaling up investments in the physical and technological infrastructures needed as impetus for radical digital transformations. Also, view Naira to Dollar currency charts. Rates are based on real time exchange rates. READ: Naira strengthens at NAFEX window despite 61% drop in dollar supply. The bank also obtained a Mareva injunction. I often choose not to click through to Nairametrics just at the thought of reading Chike Olisah’s writing. The article you are writing a rejoinder to clearly spelt out that the 2.1billion naira is the amount of money budgeted for the ONSA, part of the funding for that 2.1 billion naira is from the Abacha loot. The higher oil prices and steady production output have positively impacted Nigeria’s external reserves, rising sharply to $36.304 million according to central bank data dated January 14, 2020. 2,000,000 Naira is approx. This was the same rate that it exchanged for on Wednesday, December 2. READ: Nigeria faces prolonged exchange rate crisis as oil prices remain stuck at $40, The exchange rate at NAFEX trades at N415/$1 during Intra-day trading NAFEX as forex turnover rises by 233% rise. The naira had remained stable at the parallel market in Lagos due largely to the interventions of the CBN. Convert Nigerian Nairas to American Dollars with a conversion calculator, or Nairas to Dollars conversion tables. Nnaji. Below shows the current exchange rate of the currency pairs updated every 1 minutes and their exchange rates history graph. On the flip side, the exchange rate at the black market where forex traded unofficially still remained stable at N475/$1. However, the exchange rate against the dollar has remained volatile after the initial gains made, following the CBN’s resumption of sales of dollars to the BDCs. The memo reads: “Further to our discussion, you are pleased requested to provide the sum of forty seven million United States Dollars (USD47, 000,000.00) cash out of the Ten Billion Naira (N10, 000,000,000.00) and the balance in Euro to this office for special services,” the memo read in part. Minister of Transportation, Rotimi Amaechi, the duration for the, project is 36 months and the contract type is Engineering, Procurement and Construction.”. The solicitors regarded the outcome as an abuse of court process filed to interfere with the due administration of justice. The exchange rate for the Nigerian Naira was last updated on January 20, 2021 from Yahoo Finance. Forex turnover at the Investor and Exporters (I&E) window dropped by 13.9% on Thursday, January 21, 2021. 2,000,000 Naira is approx. Rates are based on real time exchange rates. Nigeria has a production capacity of 2.5 million barrels per day but is subject to OPEC’s crude oil production cuts, which are expected to help sustain higher oil prices. The naira appreciated against the dollar to close at N470/$1 on Thursday at the black market. Get live exchange rates, historical rates & charts for NGN to GBP with XE's free currency calculator. Naira Marley is married to two wives and currently has four children. Your email address will not be published. This appears as a boost to Nigeria as the country’s crude oil price benchmark for 2020 was $40 while it projected an oil production output of 1.8 million barrels per day. According to Danbatta, the effective regulatory regime put in place by his leadership has created the desired impetus for the increased deployment of infrastructure by various telecoms operators, which in turn, has helped to improve the broadband penetration and other related service delivery in the telecoms industry. Convert 1 Nigerian Naira to British Pound. READ: CBN revokes licenses of 7 Payment Service Providers, The CBN in its circular said, ‘’Further to our circular titled ‘Receipt of Diaspora Remittances: Additional Operational Guidelines’, it has come to our notice that some IMTOs and unlicensed companies continue to facilitate diaspora remittances into the country in Naira, “in clear contravention of the Central Bank of Nigeria directive that all remittances be paid to beneficiaries in dollars.’’, READ: More pressure on the naira as Diaspora remittances to drop by 20%. Local demand for dollars by manufacturers had risen to more than $1.16 billion on the back of outstanding obligations as at the end of second quarter, even as … The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394 to a dollar. Access Bank is understood to be grappling with a string of bad loans issued under the defunct Diamond Bank and is now stepping up efforts to go after some of the debtors by obtaining several court orders to seize properties. Dr. Olusola Saraki, Turaki of Ilorin, was the majority party leader of the Senate at the time and he headed … On January 21, 2021, the exchange rate between the naira and the dollar appreciated closing at N394/$1 at the NAFEX (I&E Window) where forex is traded officially. US Dollar(USD) To Nigerian Naira(NGN) This is the page of currency pairs, US Dollar(USD) convert to Nigerian Naira(NGN). 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