Reporting by Sonali Paul and Seng Li Peng; Editing by Kenneth Maxwell and Kim Coghill. The economist recalled that the 2020 budget had about N2.9 trn allocated for debt servicing. Convert foreign currencies instantly with the Abokifx calculator. Again, Nigeria hikes fuel pump price to N152 per litre September 2, 2020; August 2020 Black Market Exchange Rate September 1, 2020; September Exchange Rates (Naira Black Market) September 1, 2020; NNPC remittance to Federation Account reaches N1.87trn in one year August 31, 2020; Ghana Justifies $1m Levy on Nigerian Traders August 31, 2020 Todays Exchange Rate In Naira. Top losing exchange rate is Dollar to Naira having a ₦ 1 fall to ₦ 475.00 as of 11/12/2020. Get daily black market exchange rates from dollar to naira, pounds to naira and euro to naira. A: 50 Euros buys 23042.31 Nigerian Naira at interbank exchange rates. PEBEC’s mandate is to make recommendations on institutional reforms to promote Nigeria’s investment attractiveness. Graphic - Overnight vols rise to 1-month high - here In other news, Bank of England interest rate setter Jonathan Haskel said he was worried that Britain's economic recovery from the coronavirus crisis could be slow, signalling his willingness to support more stimulus. However, same is unlikely to be challenged – not by public servants being enjoined to deliver improved services or applicants who are meant to be beneficiaries of the EO. That slide reversed on Thursday, with the offshore yuan bouncing back to the weaker side of the 7 per dollar mark. Signs that dollar weakness have been the major driver of pound gains can be seen from the performance of the British currency versus the euro and the Japanese yen. Historically “we relied on oil,” says Babatunde Fowler, until last month the head of Nigeria’s Federal Inland Revenue Service. 24, Your Nickname: Add Comment. Skip to content . While it has strengthened nearly 15% versus the greenback since the March lows, it has risen less than 6% against the euro and less than 12% versus the yen in the same period. Only a quarter comes from personal income tax and social-security contributions (about the same as in Latin America, but much less than in the rich world). "If a borrowed fund is not applied to projects that can generate revenue in return, there is no way the fund will be able to fund itself. However, there were reports that the Nigerian Civil Aviation Authority (NCAA) had selected Oct. 15, as the resumption date for international flights. Ordinary Africans complain the system is rigged. "It should continue trading largely the same with support from dollar conversions as companies prepare to pay salaries and other month-end dues," one commercial bank trader said. Nigeria Black Market Exchange Rate Today Monday, 9 November 2020. The dollar briefly strengthened after U.S. Treasury Secretary Steven Mnuchin said the U.S. government will protect the stability of the currency. The MITI has described itself as the “Ministry of Enabling Environment”. Editing by Carmel Crimmins. News that Lagos State Government will soon start rebuilding the expressway to Murtala Mohammed International Airport cannot but be welcoming news, much as the decrepit on condition of the roads leading to Apapa ports – Nigeria’s premier port - is a huge let down. EOs essentially are a set of commands directly given by the President to an executive agency, class of persons or body under the executive arm of government. He disagreed with the excuse by the government on shrinking revenue, saying, "It is only when you want to maintain your level of expenditure that the government becomes a serious problem but if you cut down on your expenditure, the revenue will not be a serious problem.". Get Accurate Abokifx Naira To Usd Other Exchange Rates Oasdom. “U.S.-China tensions generate volatility, but it is the stimulus and recovery dynamic that we expect will prove more dominant.”. China Recorded, Covered Up 20 Million COVID-19 Deaths - Nnamdi Kanu. The central bank last week told lenders to stop processing new trade documents for maize imports to conserve reserves. Little wonder that Nigeria’s EDB rating actually slipped in 2016 from 2015, after marginally improving in 2014. Abokifx.com website is a very popular website / online platform for the daily update on Nigeria’s conversion to a major currency black market exchange rate Lagos Aboki forex. Sell rates: USD ₦ 475, EUR ₦ 580, GBP ₦ 625, CAD ₦ 362, ZAR ₦ 27, GHS ₦ 85, RMB ₦ 70, AUD ₦ 293, XOF ₦ 0.86, XAF ₦ 0.78, and AED ₦ 155; Buy rates: USD ₦ 470, EUR ₦ 570, GBP ₦ 615, CAD ₦ 330, ZAR ₦ 20, GHS ₦ 75, RMB ₦ 50, AUD ₦ 245, XOF ₦ 0.8, XAF ₦ 0.7, and AED ₦ 120 More so, the port operation is to run on a 24 hour circle paving way for increased commercial activities, given the EO’s prescription for 48 hour cargo clearance timeline. "There is need for reduction of recurrent expenditure and making the informal sector a major part of the sources of national savings in Nigeria" he said. US Dollar rate is ₦475 against Naira in Black Market (Lagos) today, December 11, 2020. Africa’s taxmen are in for a few more sleepless nights. An Abuja-based financial economist, Samson Simon Galadima, said Nigeria's level indebtedness had reached unsustainable heights stressing that the problem was not debt to GDP ratio (even though that is above the level set by the fiscal responsibility act) anymore, but a debt service to revenue ratio problem. Also reacting, Muhammad Ali, an Economics lecturer at Prince Abubakar Audu University, Anyigba, Kogi State, said over the years, Nigeria's budget had always been with borrowing as part of sources of financing the budget. A political economist and faculty member at the Lagos Business School, Professor Bongo Adi, said: "It is not about borrowing money, somebody has to play, and the burden of payment will be burned by the ordinary citizens. When we look at the whole month, USD was traded at ₦490 at the beginning of December on Tuesday, December 01, 2020. Abokifx Get Black Market Exchange Rates Naira To Dollar Pound . "They met about N12.1trn debt in 2015, now we are talking of over N36trn and they are borrowing more. Q: What is 50 Dollars in Nigerian Naira? Measured as dollars per person, they peaked in 2011 and then fell. Leveraged funds were shorting the British currency as of last Tuesday, but they had cut their positions in the last few weeks to hold just above $1 billion in shorts, according to latest CFTC data. Chinese state media said on Thursday the move was a political ploy ahead of November presidential elections, and one source with knowledge of the matter told Reuters China was considering closing the U.S. consulate in Wuhan in response. These innovations should fast track the incorporation process, by obviating hitherto incessant queries. It is a Nigerian website and focuses on enlightening the visitors about the current exchange rates of foreign currencies. But you know what the problem in Africa is? Abokifx Our Rates Api Is Now Available Facebook. NEW YORK (Reuters) - The dollar slumped to its lowest in nearly two years on Thursday, as investors continued to sell the greenback on expectations a surge in coronavirus cases will make it difficult for the U.S. economy to outperform its peers. abokifx gives you exchange rate today Speaking on the incident, Adesina in an interview with Channels TV Sunrise Daily programme on Thursday, said it was funny to call such protest a revolution. 2020, JULY YOU MIGHT ALSO LIKE We will put additional satellites in space — FG Amazon in talks to buy podcast publisher Wondery ― Report Prev Next We shall be discussing Abokifx Dollar to naira exchange rate today. The euro EUR=EBS was up 0.34% at $1.1609, hitting a fresh 21-month high of $1.1601 hit earlier on Wednesday. Given the stresses associated with obtaining driver’s license and international passports, it is the height of inefficiency for them to have three (3) and five (5) year durations respectively. AbokiFX Daily dollar rate, Naira to Euro, Naira to Pounds, with live foreign exchange rate calculator on AbokiFX. The ports plays a critical role in Nigeria’s economy and their historic sub-optimality has resulted in massive loss of revenues (e.g. To promote transparency in MDAs’ dealings, the EO makes it mandatory for them to make public all the requirements for licence, permits, waivers, approvals and tax related information. Abokifx USD to Nigeria exchange Rate is 358 Naira. Index description. So it is possible that we will see many more “paradigm shift, game changing” EOs from the Buhari administration. AbokiFX Daily dollar rate, Naira to Euro, Naira to Pounds, with live foreign exchange rate calculator on AbokiFX. Buy = 305/ Sell = 335 This is a welcome departure from common situations where applicants faced uphill task accessing information on regulatory processes and requirements for permits, licenses and approvals. Governments once turned to aid and natural resources to stay afloat. It’s likely the most trusted site to find up to date prices of parallel dollar rate in Nigeria and the latest stock trends on the internet. 2020, DECEMBER Abokifx has become a popular brand in the online exchange scene since we witnessed the large margin between the […] Nigeria News.., Since the 1980s governments have followed an IMF-inspired recipe: slashing trade taxes, reducing top rates on personal and corporate income, and embracing value-added tax. One further point is that policy actions like EOs should have measurable benchmarks like the ones issued by the Federal Government - these would challenge the public service to pull their weight as everyone realises that non-compliance will raise a red flag and risk exposure to sanctions. Abokifx On Twitter Now Available In French And Spanish. The Kenyan shilling is seen weakening further after this week hitting a record low because of dollar demand from importers after the state eased lockdown measures, traders said. As mentioned previously, it is desirable that the President from time to time issue EOs to steer economic policies which promotes investment in Nigeria. Any delay in unveiling more stimulus measures would fuel another round of selling in risky assets and drag the pound lower. Final Thought About The Dollar to Naira Black Market Exchange Rate Today in Nigeria The above details are live and daily Naira exchange rate from AbokiFx, the most reliable source for currency conversion. DECEMBER This is how the free currency converter on Abokirate looks like. ABOKIFX GIVES YOU EXCHANGE RATE TODAY. Some 56% of those surveyed by Afrobarometer, a pollster, considered it “very likely” that a rich person could pay a bribe or use personal connections to dodge taxes. 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