Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Convert Nigerian Nairas to American Dollars with a conversion calculator, or Nairas to Dollars conversion tables. This represents an 82 kobo gain when compared to the N393.35/$1 that it closed on the previous trading day. On the flip side, the exchange rate at the black market where forex traded unofficially still remained stable at N475/$1. Also, view Naira to Dollar currency charts. The United States Dollar is divided into 100 cents. Also, view Naira to Dollar currency charts. According to @wewizkid a twitter user, Wizkid is worth over two billion naira. 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. 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. 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. US Dollar(USD) To Nigerian Naira(NGN) This is the page of currency pairs, US Dollar(USD) convert to Nigerian Naira(NGN). 3 of 1997,No. “The BTS, fibre optic cables and other related infrastructure are central to the provision of improved service experience for Nigerians by their respective telecoms service providers. It went further to say that it shall not hesitate to authorize the closure of the accounts of unlicensed operators in Nigerian banks, including being barred from accessing banking services in 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. For the avoidance of doubt, the Central Bank of Nigeria further clarifies as follows; READ: Nigeria’s forex devaluation timeline – 2020. 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. 4 of 1997,No. 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". The Nigerian Naira is divided into 100 kobo. On this page convert USD to NGN using live currency rates as of 20/01/2021 11:10. A year ago, on that day, the currency rate US Dollar to Nigerian Naira was: ₦361.853.Since then, the exchange rate has increased by 18.65 NGN (5.15%). Naira depreciates at black market as demand pressure in forex market intensifies, Naira crashes across forex markets as CBN Governor hits at black market, CBN will continue monetary policy aimed at boosting stock market, FX Turnover spikes 140% at NAFEX market as CBN moves to clear backlog of demand, Naira stabilizes at forex markets as CBN moves to boost liquidity, CBN revokes licenses of 7 Payment Service Providers, More pressure on the naira as Diaspora remittances to drop by 20%, Nigeria’s forex devaluation timeline – 2020, Continuous increase in inflation rate may weaken economy – CBN report, UBS warns Bitcoins could disappear like Myspace, Naira stabilizes at black market as external reserve rises by $515 million in 12 days, Naira strengthens at NAFEX window despite 38% drop in dollar supply, The dangling fate of indigenous oil upstream operators, Nigeria faces prolonged exchange rate crisis as oil prices remain stuck at $40, Naira strengthens at NAFEX window despite 61% drop in dollar supply, FIRS hits 98% of target as it collects N4.95 trillion for 2020 fiscal year, Naira falls at black market despite over 100% improvement in dollar supply, Naira falls at NAFEX window despite 56.6% improvement in dollar supply. 5,144.43 US Dollars. This increment in the exchange rate corresponds to a 3.52% rise for USD since last week. 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. Nigeria’s central bank will bolster its support to manufacturing and other key sectors of the economy by 1 trillion naira ($2.7 billion) to counter the fallout of the coronavirus outbreak. 2.5mill barrels perday =125million usd. Rates are based on real time exchange rates. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 20, 2021. 37 of 1998,No. Festus Yusuf Daudu. The opening indicative rate was N392.50 to a dollar on Thursday. 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. 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. 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. 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. “I need dollar equivalent of 2.5 billion naira,” he said. Initial USD rate was noted as ₦475 at the beginning of this week on Monday, January 18, 2021. 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. READ: Naira strengthens at NAFEX window despite 61% drop in dollar supply. 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. 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%. 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! Convert 1 Nigerian Naira to Canadian Dollar. 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. In his reaction and comment, the new Perm Sec, Engr. Let me give you this illustration. 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. 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 exchange rate for the Nigerian Naira was last updated on January 20, 2021 from Yahoo Finance. US Dollar rate is ₦475 against Naira in Black Market (Lagos) today, January 22, 2021. 24 of 1991, CBN Decree Amendments 1993,No. 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. 6.6 naira hassymo5: Dec 21, 2011 – Corruption: 2 Billion Naira Disappears From Maurice Iwu’s Abuja Home Before we start the fully gist, the question on everyone’s mind is. @op. This site uses Akismet to reduce spam. 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