This is the news about the Pounds to Naira rate at the official and black market exchange rate Today May 24th 2022.
Read Naija News update on the official pounds rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
Daily Pound to Naira, GBP to NGN, Black Market (Lagos) exchange rates, percentage changes, historical rate charts and currency converter.
How Much is Pounds To Naira Exchange Rate Today Official Rate?
The official rate today, Tuesday, 24th May, 2022, for £1 pound to naira = ₦522.2134/£1.
According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦522.2134/£1 on Tuesday May 24th, after it sold at ₦518.0198 to a £1 on Monday, 23rd May 2022.
Naija News reports that a pound is bought at the official market at ₦521.5845 and sold for ₦522.8423.
How much is exchange rate of Pounds to Naira in Black Market today?
The exchange rate for a pound to naira at Lagos Parallel Market (Black Market) – Pounds exchaged for as low as ₦738 and as high as ₦745 on Saturday, May 24th 2022, according to sources at Bureau De Change (BDC).
Data from the Nigeria Extractive Industries Transparency Initiative for 2021 reveals Nigeria lost N2.2 trillion in one year due to the Deferment of crude oil output and the massive loss also occurred in 2020.
The finding comes after the country’s crude oil production has been consistently low for the past two year
Deferment is a reduction in production or injection availability caused by an activity, breakdown, trip, poor equipment performance, or sub-optimal operations, resulting in a drop in volume sold or injected and deferring production or injection to a later time.
The deferment was documented by crude oil businesses such as SNEPCO, CNL, NAOC, SPDC, NPDC SEPLAT, Newcross E & P, and APENL, according to NEITI’s Oil & Gas Report 2020.
This article was originally published on Nigeria News