Rates are based on real time exchange rates. 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. 2.5mill barrels perday =125million usd. 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. He added that the Ministry of Transport had disclosed that the projects would be completed in 36 months. Festus Yusuf Daudu said: Having more Base Transceiver Stations (BTS) is quite imperative for driving an improved broadband/telecoms service delivery to Nigerian subscribers. Forex turnover, however, dropped by about 14% as pressure on the foreign exchange market continues. Forex turnover rose sharply by 173.3%, as the Naira’s exchange rate at the … However, the initial US Dollar rate was noted as ₦483 at the beginning of last week on. Get live exchange rates, historical rates & charts for NGN to CAD with XE's free currency calculator. 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. MTN pays additional 30 billion Naira MTN pays additional 30 billion Naira Your email address will not be published. “The total cost of construction of the Ibom Deep Seaport is 4.6 billion dollars but the first phase of it is 2.016 billion dollars which was approved on Wednesday Dec. 16 by the Federal Government. 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. Oil price on the bench mark of 50 dollar per barrel. 38 of 1998,1999 and CBN Act of 2007. The naira had remained stable at the parallel market in Lagos due largely to the interventions of the CBN. 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. Ex-INEC Chairman, Maurice Iwu. 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%). 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. Our currency rankings show that the most popular Nigeria Naira exchange rate is the USD to NGN rate. Also, view Naira to Dollar currency charts. 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. Access Bank has expressed its displeasure over the ruling by the Court of Appeal which lifted the Mareva injunction against Seplat Petroleum. Brent crude oil price is at about $56 per barrel on Wednesday, as it moves towards the $60 mark, a strong sign that global demand could sustain price increases in 2021. This makes no change for USD rate against Naira this week.. To have a monthly quick review, Dollar was traded at ₦470 at the beginning of January on Friday, January 01, 2021.As of today with Dollar being … 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%. 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. This increment in the exchange rate corresponds to a 3.52% rise for USD since last week. READ: Continuous increase in inflation rate may weaken economy – CBN report. 1tbc = 1 billion dollars ($1,000,000,000) According to the founders, the value of the billion coin can never go down, only up. 6.6 naira hassymo5: Justice Ikyegh of the Appeal Court lifted the interim order on Seplat Petroleum assets, pending the determination of the appeal filed by Seplat. While Naira Marley is estimated to be worth $700,000. Relationship. 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 … Minister of Transportation, Rotimi Amaechi, the duration for the, project is 36 months and the contract type is Engineering, Procurement and Construction.”. READ: Naira stabilizes at black market as external reserve rises by $515 million in 12 days. 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. This they believe will help to stabilize the exchange rate and discourage hoarding. The Nigerian Naira is divided into 100 kobo. The United States Dollar is also known as the American Dollar, and the US Dollar. However, during intraday trading, the exchange rate traded for as high as N415.76/$1, sustaining yesterday’s figure which is the highest intraday trading tracked by Nairametrics. Access Bank Plc has filed a Notice of Appeal at the Supreme Court, objecting to the suspension of the interim Mareva injunction on the assets of Seplat Petroleum Development Company, by the Appeal Court. Initial USD rate was noted as ₦475 at the beginning of this week on Monday, January 18, 2021. 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. Naira Marley is estimated to be worth $700,000 in dollars and over 2.98 billion in naira. This is the highest level since July 2020 and a sign that higher oil prices and steady output levels may be contributing significantly to Nigeria’s foreign exchange position. It promised continued monitoring of developments in this regard, adding that it would also issue further guidance as appropriate. 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. 24 of 1991, CBN Decree Amendments 1993,No. 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. This represents a N15 gain when compared to the N485/$1 that it exchanged for on Wednesday, December 3. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 19, 2021. After some months of being under lock and keys, respite came the way of Seplat Petroleum on January 22, 2021 when Hon. 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 represents a 17 kobo gain when compared to the N394.17/$1 that it closed on the previous trading day. 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! In his reaction and comment, the new Perm Sec, Engr. 5,144.43 US Dollars. McCaleb, co-founder of Ripple sells 28.6 million XRP. You can know how to convert tbc to naira as you continue to read. This was expected to inject more liquidity into the retail end of the foreign exchange market and discourage hoarding and speculation. Just, the style, word choice, and repertoire is poor. 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. The symbol for NGN can be written N. The symbol for USD can be written $. The external reserve has risen to $36.464 billion as of January 19, 2021. Before he became HOS in 1983 he was the General Officer Commanding the 3rd Armoured Division Jos. 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. The CBN warned that strict sanctions, including withdrawal of operating licenses, shall be imposed on any individuals and/or institutions found to be aiding, abetting or directly contravening these guidelines. According to @wewizkid a twitter user, Wizkid is worth over two billion naira. 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