, the amount of dollar transactions, or the daily turnover of the foreign exchange on Nigeria's official market increased from $156.86 million on Thursday to $440.13 million on Friday.
The naira has weakened to ₦1,466.31 against the dollar, its lowest level since March 20. This drop is attributed to a local shortage of US currency, with only $84 million available on Thursday, down by half from the previous day.
Inset: Davido picking up his Bentley in Atlanta On May 1, 2018, Davido broke the internet when he gifted his girlfriend, Chioma Avril with a Porshe car valued at N45 million.
At the official market, the naira, however, reached an intraday low of N1,018.6 to the US dollar on Thursday, November 2, at the official NAFEM window.
He, therefore, advised stakeholders to abide by the guidelines to ensure transparency in the market. Last week, the CBN intervened in the various segments of the foreign exchange market with the injection of $396.8 million.
NAN reports that the Naira exchanged for as high as ₦1,900 to the dollar in February but as of March 31, the parallel market rate of the Naira was ₦1,200 to the dollar.
CBN plans to fix the minimum per capital share for Tier 1 and 2 BDC licenses to N2 billion and N500,000 million, respectively. This is a move away from the previously N35 million per capital share for general license.
A post shared by popular Instagram blogger, Tunde Ednut revealed the luxury vehicles inside Davido's Lagos garage and it has left many going wild online.
Popular billionaire businessman, Cubana Chief Priest stirs reactions as he reveals that he was charged N1million plus cab fare by an abroad taxi driver.
The official NAFEX rate, which serves as the average rate and benchmark rate used by the CBN, was quoted at N1,567.65 on March 1st, 2024. The intra-day high reached N1,600/$1, while the intra-day low was N1,425/$1.
He wrote, Person go promise una 1million for doing nothing but common sense no tell una make una get patience. Sebi him na Father Christmas. Before F. Christmas go give you gift, you don pay for execution.
I give Victor Police 1. Remain 10; Kelvin/mama dey house I go chil, I go bizza." How Nigerians reacted to dollars flaunted byDavido's bodyguard _deagram said: "After Lati, this man Segun seems to be very loyal to Davido as well.
Okoli responded by sharing a screenshot and bemoaning that she has been receiving such remarks since she became popular. Okoli Classic made headlines after Davido gave her N2 million for making him happy with her video clip.