Nigerian Naira

Nigerian Naira

Nigerian Naira overview

The naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 kobo. The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation. It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.

1 NGN to USD exchange rates chart

NGN to  exchange rates chart

Nigerian Naira news

Ghana unveils plans to increase its cocoa processing capacity

Ghana produced 880,000 tonnes of Cocoa in 2018 but currently has the capacity to process about only 300, 000 tonnes. It has plans to increase that number.

10 days indicative neutral
2019 Elections: Tinubu urges Nigerians to re-elect President Buhari

Asiwaju Bola Tinubu, National Leader, All Progressives Congress (APC), has urged Nigerians to re-elect President Muhammadu Buhari for a second term in 2019 to foster continuity, hope and development.

20 days conditional positive
The Implications Of The Acceptance Of The Naira As A Trade Currency By The United Kingdom - International Law - Nigeria

Recently, UK Export Finance; the United Kingdom's export credit agency, added the Naira to its list of pre-approved currencies. Nigeria International Law Perchstone & Graeys 15 Feb 2018

25 days conditional positive
Naira sells at N358.5 to dollar at parallel market
Naira sells at N358.5 to dollar at parallel market

The Naira on Wednesday appreciated marginally against the dollar at the parallel market in Lagos, exchanging at N358.50 to the dollar.

about 2 months conditional negative
Police in Edo arrest eight suspects over alleged illicit sale of Naira
Police in Edo arrest eight suspects over alleged illicit sale of Naira

The Police Command in Edo has arrested seven suspects in connection with illicit sale of Nigerian currency.

2 months indicative neutral
Nigerian Unions, Government Agree Minimum Wage to Avert Strike

NLC General Secretary Peter Ozo-Eson said a committee set up with the government was recommending 30,000 naira as the new monthly minimum wage

2 months conditional neutral
Nigeria naira eases on black market as dollar demand resurfaces

Nigerian naira fell on the blackmarket on Wednesday, pressured by demand for dollars from Muslimpilgrims travelling to Saudi Arabia for the haj and individualspaying for school fees abroad.

over 1 year conditional negative

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