Sentences with phrase «naira rate»

The hitherto volatility in the prices of goods and services that greeted the fluctuation in the Naira rates before the intervention of the CBN in February had fast disappeared.

Not exact matches

A year ago, on that day, the currency rate Australian Dollar to Nigerian Naira was: 234.635.

This forced the central bank in November to devalue the naira, raise interest rates and tighten monetary supply.

Nigeria's economy, despite its substantial oil production (it is the fourth - leading supplier of oil to the U.S.), declined precipitously in the 1980s: at the beginning of that decade a naira was worth more than a dollar, while today's going rate values the naira at less than a dime.

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

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.

At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN controlled rate, while Pound Sterling and the Euro closed at N610 and N520.

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.

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.»

«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.

They are also worried that despite the huge crash in value of the Naira against world's major currencies, CBN maintained its official rate at N197 / USD1 thereby creating wider parallel market margin of about 50 per cent, the highest so far in the history of Nigeria's currency market.

Most importantly, the government does not have the reserves to keep the naira - dollar rates at its official level.

«Also, Nigeria is now faced with a situation whereby funds are obtained from the official forex market (at lower rates) and diverted to other markets and sold at a higher rate by forex dealing banks and users, who make billions of naira profit just for doing almost nothing.

He said that «With the gap between the official rate of N199 and open market rate of over N400 to one dollar, Naira has already been devalued.

«We have recovered millions of naira for the Federal Inland Revenue Service and are working to ensure that value is derived by government through an appropriate collection of taxes, rates and royalties.»

«That you Stephen Oronsaye a.k.a. Mr Steve Oronsaye on or about 30th December, 2014 at Abuja within the jurisdiction of the High Court of the Federal Capital Territory whilst being the Chairman of the Presidential Committee on Financial Action Task Force and in such capacity entrusted with certain property to wit: the sum of N100, 000,000.00 (One Hundred Million Naira) committed Breach of Trust in respect of the said sum by converting it to your personal use through the investment of the said sum of N90, 000,000.00 in Access Bank Plc's Bankers Acceptance for a tenor of 90 days at 12.0 % interest rate each in violation of the extant financial regulations».

«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.

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