The POUNDS TO Naira Exchange Rate Today Black Market is as follows: Buy at £1=N474. This is the trend within September 2016 N413 – N405. The pounds to naira rate ordinarily would not have been so high but because of our inherent issues bedeviling Nigeria. Shopkeepers are allowed by law to accept of payment of items. enable_page_level_ads: true Pound is the official currency of the UK and some other countries which include Egypt, Lebanon, South Sudan, Sudan, Syria etc. On the other hand, the Bank of Ireland issues bank notes in use in the Northern Ireland. Pounds to Naira Exchange Rate Today Black Market and Official CBN December 2017. ), 18 Best Online Course Platforms for Course Instructors. However, what differentiates a developed country from a developing one is the strong judicial system that is above personalities and delivers justice to the people in a fair manner. Follower’s should not trade their vote for stomach infrastructure or a plate of rice. This page is highly essential, kindly Bookmark this page for daily update of Pounds to Naira both in black market and CBN official GBP £ (Great Britain Pounds) to NGN N (Nigerian Naira) bank rate. The value of Naira is still on a downward trend. Notes in circulation include £5, £10 and £20. Nigeria should work hard to feed, clothe, shelter & educate herself. Those notes only exist for historical value. At the moment, oil manages to sell at about $80 per barrel, which is like a departure from the golden years when it was sold for as high as $120. }); Dollar to Naira Rate Black Market October 21 2020, Dollar to Naira Rate Black Market October 20 2020, Dollar to Naira Rate Black Market October 19 2020, Dollar to Naira Rate Black Market October 16 2020, Dollar to Naira Rate Black Market October 15 2020. No more budget padding. However, we can gradually even out the current lopsided exchange rate that is in favour of the British pounds and ultimately improve our economy. LOLs! Considering the current economic situation of Nigeria, it becomes extremely important to know the current official and black market exchange rate of Pounds to Naira before initiating any transactions online. 1 GBP = 487 NGN. How Much Is Dollar To Naira Exchange Rate Today? Actual rates may vary slightly based on vendor. The regular currencies in circulation include coins include 10P, 5P, 2P & 1P. }); (adsbygoogle = window.adsbygoogle || []).push({}); (adsbygoogle = window.adsbygoogle || []).push({ This may have been done in good faith by the government but this could affect investor’s confidence. Most Nigerian bank buy at official rate, but sell at the black market rate. British Pound Sterling to Nigerian Naira Convert GBP to NGN at the real exchange rate. However, the pendulum still swings in favour of ever reliance on oil proceeds to survive. Bad Government Policies & Infrastructural Deficits. This page is highly essential, kindly Bookmark this page for daily update of Pounds to Naira both in black market and CBN official GBP £ (Great Britain Pounds) to NGN N (Nigerian Naira) bank rate. High demand for dollar, which makes it scarce and in turn affects Naira. However, all of these pounds do not measure one bit to the strong, priceless British Pounds sterling. Your email address will not be published. Rates are updated during the day as they change. Should I start a Blog in 2020? If the pounds to Naira exchange rates today do not favour you, please heap some blame on the level of corruption in the country. TransferWise Company and team. This…, Dollar to Naira Exchange Rate Today Black Market and Official October 2017. Bookmark this…, Pounds to Naira Exchange Rate Today Black Market and Official CBN December 2017. Endemic Corruption Affects Pounds to Naira Exchange Rate. These are the prevalent rates for Lagos. No doubt, Nigeria is a mono economic nation that heavily relies on oil to survive. However, there was an error in 2009 in which more than 200,000 20P coins were allowed into circulation without dates. We all know there have been claims of recovered billions from loots and serial rapes on the economy, perpetrated by those we look up to as custodian of our treasury. Related Tag: euro to naira bank rate today, 2000 euro to naira, convert 100 euro to naira, convert 50 euro to naira, 200 euro to naira, 20 euro to naira. As at 1945, over 12% of the pounds in circulation were actually counterfeit currencies. Copyright © 2020 Blog Croc | Powered by Blog Croc. Learn how your comment data is processed. What this simply means is that most banks will calculate with official rate when you receive foreign currency to your savings account but charges you at the black market rate when you shop on foreign sites with your Naira master card. Kindly share this article using the social sharing buttons below. The remaining 12% revenue is obtained from Internally Generated Revenue, IGR, Agriculture, solid minerals, and other sources. A few months ago, the government technically devalued the Naira by pegging it at a fixed rate, in a bid to “protect” the country’s currency from free fall. It has been pretty difficult for the Naira to maintain its strong grip and maintain its pride of place, ever since the free fall during the recession last year. It was indeed an expensive mistake. where you looking for…, Solidstar – Bugatti MP3. What are the Best Affiliate Programs for Beginners? See the Pros & Cos of Blogging! There are many countries who use Pounds as a unit of their currencies, apart from Britain. google_ad_client: "ca-pub-6974695833424792", Dollar to Naira Rate Black Market October 21 2020. We all know the dollar to naira exchange rate has been on the high side for some time now, in favor of the American strong currency. How much do YouTubers make: Top 10 YouTubers? Dollar to Naira Rate Black Market October 21 2020. But yes, the same can be said of the pounds to naira exchange rate too. Parallel market: According to information from Abokifx, a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N461/$1 on Tuesday. It has been pretty difficult for the Naira to maintain its strong grip and maintain its pride of place, ever since the free fall during the recession last year. 1 pounds to naira black market, current pounds to naira bank exchange rate today 2018. The pound sterling currency comes in both coins and notes. This is sad for the Nigerian economy though. The government, through the Central Bank of Nigeria, went as far as pegging the Pounds to Naira exchange rate today to a fixed value, all in effort to enhance the Naira, yet, all these measures prove abortive. Teachable vs Thinkific vs Kajabi Review: Which is the Best in 2020? Pounds was also once the official currency in Nigeria between 1958 to 1973 when it was replaced by the Naira. December 2017, ← UK 49s Lunchtime, Teatime And Russia Gosloto Prediction For Today. For example, the Bank of England issues bank notes for use in England and the entire Wales. WP Engine Review for WordPress Hosting: Is it Really Worth it? Actual rates may vary slightly based on vendor. These are the current Nigerian Naira exchange rate with the Great Britain Pounds Sterling as at today. However, recent news filtering through had it that the naira is pummeling again against the major global currencies, like the pound sterling in recent days. Very bad! Rates are updated during the day as they change. Our judiciary must be so strengthened to prosecute criminal cases speedily without fear or favour. Here are some laudable facts you should know about the Pounds. Bank notes in use in the Clydedale and Scotland were issued by the Bank of Scotland. The level of corruption is so bad that even a child born today will want to be President in order to have his own share of the federal cake.

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