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The Nigerian naira on Thursday further depreciated at the inter-bank market closing at N305.25 to a United States dollar, twenty-two official day after the Central Bank of Nigeria removed peg on the country's currency.
The naira traded N293.75 to the United States Dollar as of 10:55am in Lagos, recordig low trading digit for the day, according to data mined from the Bloomberg terminal.
Related: Naira Watch: Tracking Nigeria's Currency [Day 21]
Thursday - Closed: 293.27
Today Open: N298.25
High Rate: N308.25
Low: N293.75
Meanwhile, Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, on Thursday said that the Federal Account Allocation Committee (FAAC) distributed the sum of N559.032 billion to the three tiers of government.
The amount is the highest allocation since the APC led administration of President Muhammadu Buhari took over power 12 months ago.
Gross statutory revenue - N538.788 billion
Federal Government - N209.46 billion
State government - N133.671 billion
Local Government - N100.759 billion
According to the Minister, there was an increase in Crude oil export volume, Federal Export Revenue, Companies income Tax(CIT) and Petroleum Profit Tax (PPT).
Related: Finance Minister, Adeosun Reveals Excess Crude Account Balance For June
The naira traded N293.75 to the United States Dollar as of 10:55am in Lagos, recordig low trading digit for the day, according to data mined from the Bloomberg terminal.
Related: Naira Watch: Tracking Nigeria's Currency [Day 21]
Thursday - Closed: 293.27
Today Open: N298.25
High Rate: N308.25
Low: N293.75
Meanwhile, Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, on Thursday said that the Federal Account Allocation Committee (FAAC) distributed the sum of N559.032 billion to the three tiers of government.
The amount is the highest allocation since the APC led administration of President Muhammadu Buhari took over power 12 months ago.
Gross statutory revenue - N538.788 billion
Federal Government - N209.46 billion
State government - N133.671 billion
Local Government - N100.759 billion
According to the Minister, there was an increase in Crude oil export volume, Federal Export Revenue, Companies income Tax(CIT) and Petroleum Profit Tax (PPT).
Related: Finance Minister, Adeosun Reveals Excess Crude Account Balance For June