This is the news about the Pounds to Naira rate at the official and black market exchange rate Today May 17th 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, 17th May, 2022, for £1 pound to naira = ₦508.8889/£1.
According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦508.8889/£1 on Tuesday May 17th, after it sold at ₦506.1072 to a £1 on Monday, 16th May 2022.
Naija News reports that a pound is bought at the official market at ₦508.2761 and sold for ₦509.5016.
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 ₦710 and as high as ₦750 on Tuesday, May 17th 2022, according to sources at Bureau De Change (BDC).
Container clearing cost has increased by 67 per cent, resulting in increases in the prices of vehicle spare parts.
A freight forwarder in an interview with Punch disclosed that they pay N600, 000 to clear a 40-foot container loaded with used vehicles’ spare parts, but now pay over N1 million for the same consignment.
A member of the National Association of Government Approved Freight Forwarders, Ugochukwu Nnadi, claimed that the Nigeria Customs Service is inflicting untold hardship on Nigerians with the high cost of clearing the consignment, rather than generating revenue for the federal government.