Sentences with phrase «naira exchange»

Naira Exchange is a Nigeria's oldest bitcoin exchange and one of the most popular platform for the buying and selling of digital currencies in the country.

The Governor of Lagos State, Mr. Akinwunmi Ambode has said that for a virile economy, the naira exchange rate must be allowed to respond to other macroeconomic changes in the economy.

«The economy has started responding to these policy initiatives of the government as evidenced in the improvement and stability of the naira exchange rate; increase in the country's foreign reserves and the recent announcement by the National Bureau of Statistics NBS that the country has officially come out of recession.

Not exact matches

His Companies Are Worth Half Of The Nigeria Stock Exchange (Mind The Stock Exchange is Worth Trillions In Naira And Billions In Dollars) And Ordinary Citizens Own Shares In It And It Profits Them Well..

Modified Table Adapted from Professor Bolaji Aluko and Ike Okwuobi who provided the Naira — to dollar exchange rates for the years 1978 - 2012.

The naira weakened further against the dollar at the parallel market on Monday, exchanging at N357 for a dollar as against N350 it traded on Friday.

The data is unambiguous on current economic conditions - GDP growth in the last quarter of 2015 was a meager 2.11 % with full year growth of 2.79 % according to the National Bureau of Statistics (NBS); inflation rose sharply to 11.4 % in February with prospects of reaching 12 % by March; capital markets have remained bearish; according to UNCTAD Nigeria's FDI fell by 27.7 % to $ 3.4 billion in 2015, and on current trends may fall even more precipitously in 2016; the de facto exchange rate of the Naira for most producers and consumers is now N322 / $ even though CBN maintains a nominal N197 / $ for privileged persons; several economic sectors - construction, government, manufacturing, oil and gas and hotels and restaurants are in recession or barely out of it; government's official foreign reserves is down to $ 27.8 bn; and unemployment and under - employment rates have worsened 10.4 % and 18.7 % by the end of 2015.

The exchange rate now is over N270 per dollar, even as depreciation of naira is having a telling effect on the economy.

Vanguard survey of parallel market exchange rate in major cities shows that while there were slight increases in demand for foreign exchange, the Naira remained firm at N295 per dollar.

He noted CBN's periodic intervention in the forex market reduced exchange rate volatility over the last two quarters of 2017 and businesses showed improved liquidity of forex and stability of naira against the dollar.

Even though you provided help via Bitcoin, your Bitcoins, anyway, were recalculated into the Naira at the exchange rate at the moment of providing help, and you were credited with Mavro - Naira in your PO.

But due to high foreign exchange of naira to dollar, the money was not enough to buy medication that would last for long.

As Naira continues to slide down against the US Dollars, Nigerians have been charged to be creative to attract more foreign exchange.

From the President who has refused to act on investigative reports submitted to him on grievous allegations of diverting over a billion naira meant for resettlement of Internal Displaced Persons (IDPs) by the Secretary to the Government of the Federation, Babachir Lawal under the Presidential Initiative for the North East (PINE) and the miraculous discovery of 13billion naira in an apartment at Ikoyi, Lagos under the supervision of the Director of the Nigerian Intelligence Agency (NIA), Ayodele Oke, to the Head of Service of the Federation, Oyo - Ita Winifred Ekanem, who connived with others to reinstate into active duty and promote Abdulrasheed Maina, the former Chairman of the Pension Reform Task Team, who allegedly stole over 6billion naira pension fund; the Chief of Staff to President Buhari now renamed the «Thief of Staff», Abba Kyari, who allegedly received a bribe of 500million naira to negotiate a fine reduction for MTN Nigeria, and has continuously been in the heart of every sharp practices in the Presidency; the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who allegedly received a kickback of 3.8 billion naira in exchange for marginal oilfield using his brother, Dumebi Kachikwu as front; the Minister of Justice, Abubakar Malami, who was the brain behind the reinstatement of Abdulrasheed Maina; the Chief of Army Staff, General Tukur Buratai who during his time as the Director of Procurement at the Army Headquarters allegedly diverted funds meant to equip the Military into buying choice properties worth millions of dollar in Dubai; the Minister for Solid Minerals, Dr. Kayode Fayemi who allegedly embezled State Universal Education Board (SUBEB) funds as the Governor of Ekiti State; the Minister for Interior, Abdulrahman Bello Dambazau who was indicted by a Presidential investigative committee probing Arm procurement for awarding ghost contracts worth $ 930,500,690 with others while as the Chief of Army Staff between 2008 - 2010 and one of the brains behind the reinstatement of Abdulrasheed Maina; the Minister of Transportation, Rotimi Amaechi alleged to have stolent 142billion naira as the Governor of Rivers State.

Explaining further how to shore up the Naira, the Vice President said «one of the major issues is that we have to earn more foreign exchange to raise the value of the Naira.

The Naira remained stable for more than five months, exchanging at N365 to the dollar.

In «Nigerian Economy in 2016: Withdrawal Symptoms» (January 27, 2016), I compared Nigeria to an addict finding it difficult to wean itself of the drug of oil and warned that «in 2016 we will be forced to begin reconciling ourselves to the real exchange rate of the Naira» and «it is wise to formally and publicly end the subsidy regime and bring certainty and investments into the downstream petroleum sector.»

As part of anti-corruption measures, he also ordered that the currency be replaced - the colour of the naira notes were changed - forcing all holders of old notes to exchange them at banks within a limited period.

With the development, it is expected that the Naira will further strengthen in the foreign exchange market in the days to come.

Africa's biggest economy and top oil producer is reeling from the fall in crude revenues, the source of 95 percent of foreign earnings, which has led to the naira hitting record lows on the parallel market amid dwindling foreign exchange reserves.

«The contentious issue of the exchange rate policy that will complement the fiscal policy of this administration will be a product of determining the real equilibrium exchange rate path of the naira,» wrote Adeosun.

Last week the naira — hit by a foreign exchange scarcity in the face of low oil receipts — fell to a record low of 305 to the dollar on the parallel market, compared with the official rate of 197.

A banker, Mrs. Damilola Ehinmitan, explained that the naira to dollar exchange remained high at 305 in the interbank market and between 360 and 365 at the parallel market, adding that this did not reflect economic growth.

However, the plummeting naira and lack of availability of foreign exchange means it's now a huge challenge to print overseas.

«I remember back in 2004, E-gold (a defunct cryptocurrency) was the only option anyone in Nigeria had to make online payments,» said Tim Akinbo, the founder of Tanjalo, a Nigerian exchange where people can buy Bitcoin with the local naira currency.

The exchange was founded in 2015 and is simple and easy to navigate with an inbuilt real - time exchange rate of bitcoin to naira.

The South African digital currency exchange ICE3X recently opened its doors in Nigeria giving Nigerians an opportunity to buy bitcoin, litecoin, and ether using nairas through the use of the VoguePay payment processor.

For Nigerian traders, this means they can now buy bitcoin, litecoin, and ether using Naira on the exchange.

ICE3X has gone further to partner with Africa's leading payment processor, VoguePay, to give people exchanging the Naira access to cryptocurrency.

On NairaEx, users can buy bitcoin with naira using bank transfers or bank deposits and use the exchange's wallet for remittance purposes as users can also easily cash out their bitcoin back into local currency.

Ice3x is a South African cryptocurrency exchange that allows bitcoin, litecoin, and ether trading in South African rand and Nigerian naira.