Business

Edun Explains Shift of Naira Crude Sale to Dangote till Oct 1

Published

2 years ago

August 20, 2024

416 Views

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has declared that the sale of crude oil to Dangote Refinery and other Nigerian refineries in Naira will start on October 1, this year.

Edun said that the shift was to enable the implementation committee set up to work out the modalities for actualising President Bola Tinubu’s directive on the Naira Crude sale.

Edun, during the review meeting of the Committee, yesterday in Abuja, said that the committee, which started meeting last week, consisted of top officials of the Nigerian National Petroleum Company Limited (NNPCL), Central Bank of Nigeria, Federal Inland Revenue Service, and the Permanent Secretary of the Ministry of Finance, Mrs Lydia Jafiya.

Others were representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian Upstream Petroleum Regulatory Commission and the African Export-Import Bank which was involved in a futures crude oil sale arrangement with the NNPCL

Business

Naira Exchange Rates Wednesday, October 21, 2026

Published

14 minutes ago

October 21, 2026

OCHEFA

2 Views

Black Market Rates

₦1370 DOLLAR (USD)

₦1800 POUND (GBP)

₦1500 EURO (EUR)

₦970 DOLLAR (CAD)

₦65 RAND (ZAR)

₦350 DIRHAM (AED)

₦190YUAN (CNY)

₦100G.CEDI (GHS)

₦2300 CFA F.(XOF)

₦2200 CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD) ₦1333.65

POUND (GBP)₦1784.69

EURO (EUR)₦1497.29

SWISS FRANC (CHF)₦1619.88

JAPANESE YEN (JPN)₦8.44

CFA FRANC (XOF)₦2.28CBN

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1806.39

CHINESE YUAN (CNY) ₦199.70

SAUDI RIYAL (SAR)₦355.53

SOUTH AFRICAN RAND (ZAR)

Business

Naira Exchange Rates Friday, October 16

Published

5 days ago

October 16, 2026

OCHEFA

50 Views

BLACK/ PARALLEL MARKET RATES

₦1370 DOLLAR (USD)

₦1800 POUND (GBP)

₦1510 EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

₦2300 WEST AFRICAN CFA F.(XOF)

₦2200 CENTRAL AFRICAN CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR AUSSIE (AUD)

CBN OFFICIAL RATES

DOLLAR (USD)₦1331.61

POUND (GBP)₦1764.26

EURO (EUR)₦1490.48

SWISS FRANC (CHF)₦1608.23

JAPANESE YEN (JPN)₦8.4

CFA FRANC (XOF)₦2.27

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1802.33

CHINESE YUAN (CNY)₦199.01

SAUDI RIYAL (SAR)₦354.83

SOUTH AFRICAN RAND (ZAR)₦80.49

Business

WEF could appoint Lagarde as its next chair, sources say

The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of ⁠the matter.

Published

6 days ago

October 15, 2026

OCHEFA

55 Views

•European Central Bank President Christine Lagarde

The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider ‌reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.

Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.

No final decision has been taken yet, they said.

A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.