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Naira Exchange Rates Thursday, August 13

Black Market Rate vs Commercial Bank Rates vs CBN Rate

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Black Market Rate

US DOLLAR (USD) Buy ₦1,420 Sell ₦1,425

GREAT BRITISH POUND (GBP) Buy ₦1,890 Sell: ₦1,910

EURO (EUR) Buy ₦1,585 Sell ₦1,610

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

Commercial Banks Exchange Rates

Fidelity Bank

Currency Sell

USD / NGN ₦1370.00

GBP / NGN ₦1869.78

EUR / NGN ₦1604.54

Sterling Bank

Currency Buy Sell

USD / NGN ₦1350.00 ₦1370.00G

BP / NGN ₦1803.07 ₦1870.88

EUR / NGN ₦1536.93 ₦1600.80

ZAR / NGN ₦82.35 ₦87.06

CBN Exchange Rates

US DOLLAR (USD) ₦1,360.58

GREAT BRITISH POUND (GBP) ₦1,841.00

EURO (EUR) ₦1,572.01

SWISS FRANC (CHF) ₦1,678. 28

JAPANESE YEN (JPN) ₦8.56

CHINESE YUAN (CNY) ₦201.81

WEST AFRICAN CFA (XOF) ₦2. 40

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,863.86

SAUDI RIYAL (SAR) ₦362.36

SOUTH AFRICAN RAND (ZAR) ₦84.53

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Business

Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy

However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.

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All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.

The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.

However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.

Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.

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Nigeria’s oil production dropped by 4% in July – NUPRC

“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”

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The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.

According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.

The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.

“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”

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Business

FG approves tax waivers for 4,000 electric vehicles

Nigeria’s 2022 Energy Transition Plan targets electric vehicles accounting for 60 per cent of the country’s vehicle fleet by 2050. However, the country is still at the early stages of the transition.

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The Federal Government has approved tax waivers for almost 4,000 electric vehicles imported into Nigeria in the first half of 2026.

Government data reviewed by Reuters in a report on Wednesday showed that the approvals represented the first batch processed under a new government initiative designed to encourage the adoption of cleaner vehicles through tax incentives and local vehicle assembly programmes.

The move signals an intensification of Nigeria’s efforts to shift part of its transport system away from petrol and diesel vehicles, even though the country’s electricity supply remains far below the level required to support large-scale electric vehicle adoption.

Nigeria’s 2022 Energy Transition Plan targets electric vehicles accounting for 60 per cent of the country’s vehicle fleet by 2050. However, the country is still at the early stages of the transition.

Official data on the current number of electric vehicles on Nigerian roads is unavailable, but dealers cited by Reuters estimated that EVs account for less than one per cent of the country’s vehicle fleet, translating to only tens of thousands of vehicles.

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