Breaking News: Dollar Exchanges $1 to N184

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In a shocking development, the exchange rate today dropped by half across board. Dollar to the Naira dropped from N360 to N184 while the Pound dropped from over N400 to N240.

There is no clear indication of why this exchange rate is reflected on internation exchange rate calculators while the Central Bank website does not reflect these new exchange rate.


This looks like a move meant to influence the on-going elections. It will be recalled that the Presidency had earlier lamented the amount of foreign currency in circulation in the country. With this drop in the exchange rate, the value of any foreign currency in circulation is automatically halved.

We shall await further developments on this issue.


  • This government has to a fraud. Does this mean a collusion between the CBN and the government to suffer the economy to enrich their members? Same thing with fuel subsidy that all of sudden it’s reduced by five naira. This government is messing with our collective intelligence.

  • National

    Google reacts to inaccurate Naira conversion rates

    By Dennis Erezi

    22 February 2019 | 11:33 pm

    Tech giant Google has reacted to the inaccurate figures witnessed in the conversion rate of Nigeria’s Naira currency on the eve of the country’s presidential and parliamentary elections.

    “We’re aware of an issue causing inaccurate conversions for Nigerian Naira currency, so we will remove the conversion one box from appearing in search results until we are able to diagnose the issue,” Google said in a tweet late on Friday.

    Search result on Google showed a dollar was equivalent to N184. During the same period, a dollar was traded officially for N306, information on Nigeria’s central bank website showed.

    While the drastic reduction in the conversion rates was noted on Google, other currency conversion mediums remained the same way they were.
    On, for instance, N362.6 was exchanged for a $1.

    But Google said it was aware of the inaccuracies and will correct it to correspond with the global conversion rates.

    The tech company, however, did not state the cause of the inaccuracies. Google said the search result will be diagnosed to identify the issue.

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