Morning rate: how much is pounds in black market today 31 Jan, 2017

Here is the opening morning trading rate of the British Pound versus the Nigerian Naira in the Lagos Black Market today, Tuesday 31, January 2017.

Pound Sterling Exchange Rate to Nigeria Naira Exchange Rate in black market: 605/ 615

The Central Bank of Nigeria (CBN) has promised to maintain price stability and external reserves to safeguard the international price of Naira.

In a statement by the bank’s acting Director, Corporate Communications, Mr Isaac Okorafor on Thursday, the bank expressed concern over the continued attack on its policies by a ”self-serving and unpatriotic people”.

The statement alleged that Intelligence reports at the disposal of the bank revealed that some unpatriotic elements were pushing the Federal Government to reverse its FOREX policy, aimed at conserving foreign exchange, stimulating agriculture, manufacturing and exports.

Nigeria’s foreign reserve on Tuesday rose to a record high of $27.22 billion from $26.97 billion as at Friday last week, according to the data from the website of the Central Bank of Nigeria (CBN).

The foreign reserves had depleted to a record low of $23.9 billion as at as October 19, 2016 driven by the sharp drop in the price of crude oil.

Visit current exchange rate of dollar to naira in black market to get the latest and current exchange rates of the dollar to naira in the Nigeria black market.

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