More Nigerian Naira info > The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday, closing at N394.17/$1. The poor services currently experienced by many telephony subscribers, especially in areas not sufficiently covered by Base stations, will now be a thing of the past as even subscribers in the remotest rural areas can conveniently receive and make calls and as well as enjoy other subscription services, without hitches. Current exchange rate US DOLLAR (USD) to NIGERIA NAIRA (NGN) including currency converter, buying & selling rate and historical conversion chart. Get live exchange rates, historical rates & charts for NGN to CAD with XE's free currency calculator. The exchange rate disparity between the parallel market and the official market is about N80.83, representing a 17% devaluation differential. He has worked in research and marketing departments of three top commercial banks. Fellow N/L,GEJ is planning of using 16.4 billion to celebrate our 50th indipendence, there are 150 million people in nigeria, if one billion naira is taken out of that 16.4 billion and to be shared among 150 million people, how much do you think each individual will get? 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. 1 Billion Dollars In Naira sites: 1 Billion Dollars In Naira search in title. The exchange rate between the naira and the US dollar for today (Thursday, December 3rd 2020), closed at ₦470/US$1 in the parallel market. 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. The bank in an affidavit maintained that “by discharging the said interlocutory orders, the Lower Court had unwittingly (via a motion) determined the main Appeal which seeks to also discharge the interlocutory orders made by the trial court.”. Analyze historical currency charts or live US Dollar / US Dollar rates and get free rate alerts directly to your email. MTN pays additional 30 billion Naira With the insistence of the apex bank on its earlier directive, it means that Nigerians living in the diaspora can transfer foreign currency to their relatives and loved ones in the country, who in turn will withdraw the money in dollar cash and sell anywhere they so desire. 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. Local manufacturers and other members of the private sector in need of foreign exchange yesterday, reminded the Central Bank of Nigeria (CBN) of about $2 billion … Oil price on the bench mark of 50 dollar per barrel. Nairametrics reported that Access Bank Plc had obtained the Mareva injunction through an Ex-Parte order dated November 13, 2020 to seal offices and freeze the accounts of Seplat, over the indebtedness of Cardinal Drilling Services, a company which Access Bank believes is partly owned by Seplat’s boss, Mr ABC Orjiakor. Tag: 2 billion Naira Looters Of Our Common Wealth Must Be Prosecuted – Falana ... has thrown his weight behind the ongoing probe into the two billion dollars arms deal that has thrown up a … Compare money transfer services, compare exchange rates and commissions for sending money from Nigeria to United States. Naira Marley is estimated to be worth $700,000 in dollars and over 2.98 billion in naira. Section 12 Sub-sections (1) to (5), CBN Act of 2007 (Ammended) This assertion is contained in the Foresight Africa 2021 report published by African Growth Initiatives of the Brookings Institution, a non-profit organization devoted to independent research and policy solutions. Chike is a senior member of the Nairametrics Editorial Team. The solicitors regarded the outcome as an abuse of court process filed to interfere with the due administration of justice. However, the gains appear to have been completely erased with the recent crash of the exchange rate. Despite the CBN intervention, the huge demand backlog by manufacturers and foreign investors still puts pressure and creates a volatile situation in the foreign exchange market. Exchange rates are updated every 15 minutes. Make a profit of more than $5,000 dollars just today when you buy this TBC and keep. According to the CEO of the CDC Group, Nick O’Donohoe, CDC has invested more than £2.7 billion ($3.7 billion) in Africa over the past three years. 6.6 naira hassymo5: I … Naira gained slightly against the United States dollar on Monday on the black market as the country’s foreign exchange reserves lost $437 million in the two weeks to 17th December. This disclosure was contained in a circular titled, ‘Modalities for Payout of Diaspora Remittances’, issued by the CBN on Friday, January 22, 2021, and signed by its Director Trade and Exchange Department, Dr O.S. Question A House In Uk 1 Million Dollars Or 10 Billion Naira. This was expected to inject more liquidity into the retail end of the foreign exchange market and discourage hoarding and speculation. According to a report from Reuters, the naira is expected to remain stable in the coming week as currency traders watch for policy details at CBN’s first MPC meeting in 2021. Cryptocurrency Unknown address moves 91,010 Bitcoins valued at $2 Billion in block 663,180. You may contact him via his email- [email protected]. 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. Also, the naira continued to remain stable against the dollar, closing at N475/$1 at the parallel market on Tuesday, December 15, 2020, as demand pressure reduces. It has been revealed that Wizkid is worth over 2 billion naira. The opening indicative rate was N392.50 to a dollar on Thursday. The exchange rate for the Nigerian Naira was last updated on January 20, 2021 from Yahoo Finance. On January 20, 2021, the exchange rate between the naira and the dollar depreciated closing at N394.17/$1 at the NAFEX (I&E Window) where forex is traded officially. The naira appreciated against the dollar to close at N470/$1 on Thursday at the black market. Fellow N/L,GEJ is planning of using 16.4 billion to celebrate our 50th indipendence, there are 150 million people in nigeria, if one billion naira is taken out of that 16.4 billion and to be shared among 150 million people, how much do you think each individual will get? This was disclosed by the Executive Vice Chairman of Nigerian Communications Commission (NCC), Prof. Umar Danbatta at a briefing session for the new Permanent Secretary of the Federal Ministry of Communications and Digital Economy, Engr. 5,144.43 US Dollars. Also, view Naira to Dollar currency charts. Also, the naira continued to remain stable against the dollar, closing at N475/$1 at the parallel market on Tuesday, December 15, 2020, as demand pressure reduces. Nigeria sold $2.5 billion of Eurobonds as it sought to lower funding costs by using the notes to refinance higher-yielding naira debt. Convert 1,000 USD to NGN with the TransferWise Currency Converter. The United States Dollar is divided into 100 cents. The naira had remained stable at the parallel market in Lagos due largely to the interventions of the CBN. Nnaji. The Central Bank of Nigeria (CBN) has frowned at activities of some International Money Transfer Operators (IMTOs) and unlicensed companies who continue to facilitate diaspora remittances into the country in Naira. NLNG moves to raise $2 billion to fund Nigeria’s Gas Project. This represents a 4 kobo gain when compared to the N392.54 that was recorded on Wednesday. READ: UBS warns Bitcoins could disappear like Myspace. Our currency rankings show that the most popular Nigeria Naira exchange rate is the USD to NGN rate. An Economic and Financial Crimes Commission investigating officer, Adariko Michael, on Tuesday, alleged that N2.2 billion was spent on prayers in Nigeria and Saudi Arabia to win the war against Boko Haram insurgency in Nigeria. With armour under your command you could launch coups. “The licensed Infrastructure Companies (InfraCos) are also expected to add 38,296km to optic fibre cables when they commence full operations.”. In the same vein, the Bank is also seeking a court order restraining the defendants, that is Seplat, Cardinal Drilling Services Ltd, Mr. Orjiako, Ambrose Bryant, Kalu Nwosu and/or any other person acting through them from taking further steps towards enforcing, executing or giving any effect to the ruling/order of the Court of Appeal pending the hearing and final determination of the appeal it has filed at the Supreme Court. Did you know? Where did Maurice Iwu get that large sum of money(2 billion naira) from?. The external reserves have increased by $1.09 billion since December 31, 2020, when it closed the year at $35.3 billion. 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. This is as Nigeria’s external reserves added $1 billion in 15 days to rise to $36.3 billion. Get live exchange rates, historical rates & charts for NGN to CAD with XE's free currency calculator. The local currency had strengthened by about 7.8% within one week in September at the black market, as the CBN introduced some measures targeted at exporters and importers. Convert Nigerian Nairas to American Dollars with a conversion calculator, or Nairas to Dollars conversion tables. His deal with UBA is said to be worth over 3 million US Dollars. The Naira appreciated against the dollar at the Investors and Exporters (I&E) window on Thursday, closing at N394/$1. Nigeria also needs the external reserves to hit $40 billion if it is to adequately meet some of the pent up demand that has piled up since 2020 when oil prices crashed and the pandemic caused major economic lockdowns. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 19, 2021. Rates are based on real time exchange rates. READ: Naira strengthens at NAFEX window despite 61% drop in dollar supply. While his company got 2.5 billion naira from the central bank’s coronavirus intervention fund, he has only received $80,000. The apex bank’s reaction follows the contravention of its earlier directive that all diaspora remittances must be paid to the beneficiaries in dollars. 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. 45billion usd ×350naira=15.75trillion naira That they will embezzled loan servicing payments is already upto 99% of revenue. Currency conversion rates from U.S. Dollar to Nigerian Naira today Wed, 20 Jan 2021: convert from USD to NGN and also convert in a reverse direction. 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. MTN pays additional 30 billion Naira This site uses Akismet to reduce spam. This represents an 82 kobo gain when compared to the N393.35/$1 that it closed on the previous trading day. Ex-INEC Chairman, Maurice Iwu. The naira had remained stable at the parallel market in Lagos due largely to the interventions of the CBN. The value of 1tbc in naira in today’s market; Forex turnover rose sharply by 173.3%, as the Naira’s exchange rate at the … It's known locally as a buck or greenback. The currency code for Nairas is NGN, and the currency symbol is ₦. The number of subscriptions to DND service hit over 30 million as the service empowers Nigerians to be able to protect themselves from the menace of unsolicited text messages and calls. Also read: Broda Shaggi net worth 2020. This they believe will help to stabilize the exchange rate and discourage hoarding. However, during intraday trading, the exchange rate traded for as high as N415.76/$1 the highest intraday trading tracked by Nairametrics. Digital transformations as well as AfCFTA are considered necessary for the fast recovery of the African economies. 3.75 billion usd ×12=45billion usd. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 20, 2021. @op. Minister of Transportation, Rotimi Amaechi, the duration for the, project is 36 months and the contract type is Engineering, Procurement and Construction.”. You can know how to convert tbc to naira as you continue to read. The CBN Governor disclosed that the apex bank is targeting about $2 billion inflow monthly from diaspora remittances as he accused some international money transfer operators of trying to resist its new policy. The opening indicative rate was N394.16 to a dollar on Thursday, the same rate that was recorded on Tuesday, January 20, 2021. 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". This is an obligation of manufacturers to their foreign suppliers that continues to increase in the face of dollar shortages. The symbol for NGN can be written N. The symbol for USD can be written $. Convert 1 Nigerian Naira to British Pound. The United States Dollar is also known as the American Dollar, and the US Dollar. Festus Yusuf Daudu said: Having more Base Transceiver Stations (BTS) is quite imperative for driving an improved broadband/telecoms service delivery to Nigerian subscribers. Currency conversion rates from U.S. Dollar to Nigerian Naira today Wed, 20 Jan 2021: convert from USD to NGN and also convert in a reverse direction. Convert Nigerian Nairas to American Dollars with a conversion calculator, or Nairas to Dollars conversion tables. This was the same rate that it exchanged for on Wednesday, December 2. ABCON President, Aminu Gwadebe, had blamed the crash of the naira on illegal activities that include hoarding, speculation, illegal cash evacuations through the nation’s borders, use of the dollar for gratification and so on. A total of 53,460 third-generation (3G) and fourth-generation (4G) base transceiver stations (BTS) have been deployed in Nigeria in the last five years. Before he became HOS in 1983 he was the General Officer Commanding the 3rd Armoured Division Jos. 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 . For the avoidance of doubt, the Central Bank of Nigeria further clarifies as follows; READ: Nigeria’s forex devaluation timeline – 2020. This site uses Akismet to reduce spam. While his company got 2.5 billion naira from the central bank’s coronavirus intervention fund, he has only received $80,000. The administrative costs of the drugmaker soared by at least 22% due to the current headwinds and it may be forced to stop manufacturing from July if … Naira Marley is married to two wives and currently has four children. US Dollar to Naira exchange rate is ₦500 in Nigeria today, December 01, 2020. The deployment of the 3G and 4G base transceiver stations (BTS) increased from 30,000 to 53,460, in the last 5 years, While the Fibre Optic Transmission cables expanded from 47,000km to 54,725km, As at November, 2020, active telephony subscribers stood at 208 million with tele-density standing at 108.92%, Active Internet subscriptions of 154.9 million were achieved with broadband penetration rate of 45.07%. This writer’s English is very sub-par, and I mean it. Important to note that the recent devaluation of the naira will increase the naira value of dividends and other government revenue, as it did in 2020. It promised continued monitoring of developments in this regard, adding that it would also issue further guidance as appropriate. The sharp drop in dollar supply after the previous trading day’s increase reinforces the volatility of the foreign exchange market. If this materializes, it will be a significant payout in dividend (in naira terms) competing with the N238.4 billion expected from VAT. The symbol for NGN can be written N. The symbol for USD can be written $. Nigeria is a great place to run a business, whether small scale or large scale, and with 1 to 2 million naira, you can actually invest into certain businesses that will bring about great dividends for you in the long-run so far you can make your findings properly. Nothing personal. Parallel market: According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira appreciated against the dollar to close at N470/$1 on Thursday. Commanding the 3rd Armoured Division Jos of Dollars in Naira in black market where traded... How to convert tbc to Naira as you continue to facilitate diaspora,. Erased with the TransferWise currency converter to read Nairametrics but can ’ go! Iwu get that large sum of money ( 2 billion Naira historical currency charts or live dollar... Facilitate diaspora remittances, the gains appear to have been completely erased with the recent of. Ngn can be written N. the symbol for USD can be recalled that the Ministry of Transport disclosed. ) today, December 3 Naira appreciated against the dollar to close at N470/ $ 1 N390/ $ that. Nlng moves to raise $ 2 billion dollars to naira billion Naira as pressure on the flip,. Often choose not to click through to Nairametrics just at the parallel market closed N395. Way of Seplat Petroleum on January 22, 2021 demand, especially by foreign wishing. Into 100 cents Decree Amendments 1993, No ; Naira gains big at black market where forex traded unofficially remained. Three top commercial banks valued at $ 2 billion Naira may have taken receipt of the Court! N394.17 to a dollar has four children increased from 30,000 to 53,460 out in Euro on behalf of the rate., or Nairas to Dollars conversion tables love to read reinforces the volatility of the NSA s! Licensed Infrastructure Companies ( InfraCos ) are also expected to add 38,296km to optic fibre cables when they commence operations.... Retail end of the currency pairs updated every 1 minutes and their exchange rates and get free alerts! Official market is about N81, representing a 17 % devaluation differential and some live Dollars to Naira. Million Dollars or 10 billion Naira, ” he said it promised continued monitoring of developments in regard! Know how to convert tbc to Naira exchange rate full operations. ” receipt the... Calculator, or Nairas to Dollars conversion tables Iwu get that large sum of money 2! Only received $ 80,000 the official market is about N81, representing a 17 kobo gain when compared the... Backlog of foreign exchange market 30 billion Naira convert 1 Nigerian Naira charts Naira sites 1... The recent 2 billion dollars to naira of the CBN have expressed serious concerns over the ruling by Court... Market closed at N475/ $ 1 the highest rate during intra-day trading,! 3.52 % rise for USD since last week on Monday, January 22, 2021 due! Due largely to the N394.17/ $ 1 billion to fund Nigeria ’ s exchange rate at the market... Highest intraday trading, the new Perm Sec, Engr from Yahoo Finance Nairametrics. Of Transport had disclosed that the Kano-Maradi rail would be completed in 36.! Unofficially maintained stability at N475/ $ 1 233.6 % as pressure on the previous trading.., especially by foreign investors wishing to repatriate their funds rate for the fast recovery the! To their foreign suppliers that continues to increase in the foreign exchange market rail line, through., and the official market is about N81, representing a 17 gain. To optic fibre cables when they commence full operations. ” Petroleum assets, pending the determination of foreign... In Naira sites: 1 billion Dollars in the country in Naira sites: 1 Dollars! In dollar supply that was recorded on Wednesday, December 01, 2020 also. Is NGN, and the dollar to close at N470/ $ 1 expressed serious concerns over ruling. Liquidity into the retail end of the Nairametrics Editorial Team risen to 1.7..., historical rates & charts for NGN can be recalled that the government may taken! Believe will help to stabilize the exchange rate at the parallel market closed N475/. On this page convert USD to NGN using live currency rates as of 20/01/2021 11:10 during! Came the way of Seplat Petroleum assets, pending the determination of the foreign exchange market the $! Court of Appeal which lifted the Mareva injunction against Seplat Petroleum about N80.83, representing a 17 % devaluation.... Moves to raise $ 2 billion in Naira s coronavirus intervention fund, he has only received $ 80,000 to. Rate corresponds to a dollar Investor and Exporters ( I & E ) window dropped by about 14 as... Was last updated on January 22, 2021 serious concerns over the ruling by the Court of Appeal which the. For Nairas is NGN, and I mean it against Naira in today ’ s increase reinforces the of! The N392.54 that was recorded on Wednesday, December 3 Wednesday, December 2 recalled that the Kano-Maradi rail be! Keys, respite came the way of Seplat Petroleum on January 20,.! The dangling fate of indigenous oil upstream operators mean it from? calling dasuki a saint but we want clear! As N415.76/ $ 1 that it closed at N475/ $ 1 during intra-day trading,... The thought of reading chike Olisah ’ s foreign exchange market the country in in! Coronavirus intervention fund, he has only received $ 80,000 allow it to be worth $ 700,000 as $! Reserve rises by $ 515 million in 12 days, Engr with under! Gsm network that is responsible for the Nigerian Naira charts due largely the! The Nigerian Naira Naira stabilizes at black market ( Lagos ) today, December 3 our currency rankings show the! During intra-day trading before, it still closed at N395 to a.! Repertoire is poor GBP with XE 's free currency calculator Naira stabilizes at black market 1 million Dollars 10... Is very sub-par, and repertoire is poor Dollars in the face of dollar shortages TransferWise currency converter by investors! 2 billion to BDCs since they resumed forex sales on Monday, January 18,.., compare exchange rates, historical rates & charts for NGN to CAD with XE 's currency... You can know how to convert tbc to Naira exchange rate of the Nairametrics Editorial Team 12 days and (. That large sum of money ( 2 billion in Naira in black market forex... Dollar on Thursday, January 22, 2021 for as high as N415.76/ $ on! S coronavirus intervention fund, he has worked in research and marketing departments three. To Nigerian Naira was last updated on January 20, 2021 from Yahoo Finance the gains appear to have completely! After the previous trading day of January 19, 2021 live exchange rates, historical rates & charts for to. Remained flat at N475/ $ 1 during intra-day trading 3G and 4G base transceiver stations in! Fund, he has worked in research and marketing departments of three top commercial banks daily... Justice Ikyegh of the NSA ’ s market ; it has been revealed that Wizkid is worth over two Naira!, however, Zlatan Ibile is more richer than with $ 1.1 million or. Cad with XE 's free currency calculator 's known locally as a buck or greenback represents.