In 2020 the average exchange rate was 1 USD to 380 NGN. the exchange rate between the Dollar and Naira has not been stable, the currency fell at the black market, .We have to adhere to CBN and we are displaying CBN rate, According to the recent data obtained from todays session at the black market, naira closed at 755000 per $1000 on 1, Wed, March,2023, This means that if you have 1000 Dollars to sell, you should be willing to sell it at at the parallel market for 752000. Convert 1000 US Dollar to Nigerian naira using latest Foreign Currency Exchange Rates. This data is usually enough to forecast future changes. On November 12, 2014, the Lamido-led CBN with the directive from the presidency issued a 100 naira commemorative note to celebrate the centennial of Nigerias existence. How much did you have in dollars this is my number let chat, You are a yahoo yahoo 419 looking for who to defraud, Hello Dylan I can help you out here is my whatsapp number +2349054449496 ! Usually, the gap between the official rate and the parallel market price (blackmarket rate) is higher than it should be.Redesigned NGN200 note: Photo credit: @NigeriaGov. 1,000 IDR to NGN - Rupiahs to Naira. 1,000 USD Repeat these steps for any other notes and coins you want to exchange. Up till now, the eNaira has not enjoyed the much-needed acceptability by the general public. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 10 100 1000. please how. $1 = 458.59 -1.20 (-0.26%) at the rate on 2023-02-08. The currency code for Nigerian Nairas is NGN. All rights reserved, Bosnia and Herzegovina convertible mark - BAM, BAM - Bosnia and Herzegovina convertible mark. We analyze data for easy understanding, bring you business and investment opportunities, and outlining the core responsibilities of government agencies. are there any local United States Banks converting the Nigeria notes to dollars? Buy price: it is the price at which the market is buying. Uncle is getting bankrupt. My solution will take you few hours to complete . The troubling question in the mind of everyone right now is why is US dollar exchanging for? I have $1000 US dollars, Find me the person who is very close to me to buy it, location Nigeria, Kebbi state. Save my name, email, and website in this browser for the next time I comment. And by 2013, it was NGN162/$1. Thanks for reading infomediang.com. 1 NGN = 0.0001700000. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. For instance, in 2008, the administration of President Musa YarAdua planned to redenominate the naira from 1 new naira to100 old naira. He said that the bank would only intervene in the market as may be required to achieve defined policy objectives. In 1991,during the regime of Gen Ibrahim Badamosi Babangida, 50 naira notes were issued, while the 50 kobo and 1 naira notes were replaced by coins the same year. by Raphael on February 1, 2022 February 1, 2022. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. The current exchange rate is 0.00218. The 1000naira notesalso got new features:a subtle shiny strip running down the back of the note. In April 1984,during the military regime of Maj.Gen. Read our reviews at Trustpilot.com. The Money Converter 2023. We use two factor authentication to protect your account. Before the expiration of Obasanjos two-term in office, more currencies were introduced. Our currency converter will show you the current rate and how its changed over the past day, week or month. Receive daily email about the MYR NGN exchange rate, Trusted by millions of customers globally. And the CBN reacted, saying it would no longer issue banknotes on polymer citing environmental issuesand high cost or production. The apex bank does not only issues the naira, it also performs other monetary roles in Nigerias economy.Old NGN1,000 note will stop to be a legal tender from January 31, 2023. Nigerian currency were issued in denominations of: Due to high inflation, all the coins (1 kobo, 2 kobo, 5 kobo, 10 kobo, and 20 kobo) are no longer in use, though there was another plan to reintroduce coins into Nigerias economyby the countrys House of Representatives as one of the moves to curb inflation. Convert 1000 Spanish Pesetas to Nigerian Nairas with real time Forex rates based on up-to-the-second interbank exchange rates. But the plan was suspended due to monetary advice from experts. At the time of publication, the official exchange rate in Nigeria stood at NGN416 against the USD. Is there anything that can be done to reverse or improve the Naira value? Forbes University of Maine overall ranking by FORBES is #509 out of 650 globally, #424 out of 513 in USA for the year 2019. Trade USDT to NGN and other cryptocurrencies in the world largest cryptocurrency exchange. Abdulkadir Ahmed100 nairaDecember 1999President Olusegun ObasanjoDr Joseph Sanusi200 nairaNovember 1, 2000President Olusegun ObasanjoDr Joseph Sanusi500 nairaApril 4, 2001President Olusegun ObasanjoDr Joseph Sanusi1000 nairaOctober 12, 2005President Olusegun ObasanjoProf Charles Soludo. Learn how your comment data is processed. Central (NGN) Selling (NGN) Showing 0 to 0 of 0 entries. Saint-milion Grand Cru wines are produced under slightly tighter production restrictions than . So, you've converted 1000 US Dollar to 394137 Nigerian Naira. The currency symbol is $. Our currency converter will show you the current rate and how its changed over the past day, week or month. The best day to change Austrian schillings in Nigerian nairas was the Wednesday, 1 February 2023. Our information is to help you make an informed decision. Not only that, it also added a quick response code(QRC) which when scanned leads holdersto a website about Nigerias history. Tag 1000 canadian dollar to naira. Currency Converter; . For instance, $1was just 65kobo in 1972/1973. Although, the larger part of the FCT was carved out of Niger state. Last Updated: Sunday 08 January 2023, 10:33 am, Lagos., Nigeria 1000 (USD) U.S. Dollar= 450,050.0000 (NGN) Nigerian Naira (four hundred fifty thousand fifty Nigerian Naira) 1 U.S. Dollar = 450.0500 Nigerian Naira When the 100 naira notes were first issued in 1999,Zuma Rockwas captioned as located inFederal Capital Territory, Abuja, instead of Niger state. The rupee was established by law in 1876 as the local currency of Mauritius. If you have any story suggestions or feedback, feel free to Direct Message me on Twitter: Opyem Quadri @OpeQuadri Or send your thoughts to infomediang19@gmail.com or business@infomediang.com. 1000 Dollar to Naira exchange rate table A country like Nigeria that is largely dependent on foreign products, Exchange rate is very important. Simply type in the box how much you want to convert. Currency Converter; . Posted by in Cleaning. Complete checkout and get paid within 5 days of receiving your currencies. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. Click on the drop-downs to select the currencies you want to convert between. When there was a change of baton, Sanusi Lamido Sanusi(who took over from Soludo as CBN governor), changed the 5, 10 and50naira to polymer notesin mid-2009. much is $2million dollars. Some other roles of the CBN in terms of naira include: The name naira was coined from the word Nigeria byChief Obafemi Awolowo, the first Premier of the Westen region who later became the Federal Commissioner of Finance. Ads Currency converter USD - US Dollar NGN - Nigerian Naira Rate: Convert 1000 US Dollar to Nigerian Naira Where Do You See USD to NGN Rate by December 2022: NGN900 or More? Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. Ola Vincent10 nairaJuly 2, 1979Gen Olusegun ObasanjoDr. Every time. CORP. does not provide services for United States, BVI, Japan and Russian residents. 460003.313 NGN.Look at the reverse course NGN to USD .Perhaps you may be interested in USD NGN Historical Chart, and USD NGN Historical Data of exchange rate. Get 50% Activity Bonus and up to $1000 Welcome Bonus. We are a team of researchers. If interested or can connect someone let me know. Find real-time live price with technical indicators to help you analyze USDT/NGN changes. Olusegu Obasanjo introduced most of the Nigerian bank notes as a Military Head of State between 1976 to 1979 and as Civilian President between 1999 to 2007. The CBN governor Godwin Emefiele disclosed that the eNaira would be denominated in naira. Please note that 1 Dollar is 755 Naira in black market, hence we help you to calculate it with our tool and algorithm. We utilize mid-market currency rates to convert USD against NGN currency pair. LL16237 in the Federal Territory of Labuan (Malaysia) and is licensed by the Labuan Financial Services Authority (license number MB / 20/0049). You always get the best exchange rate with Wise, whether you send, spend, or convert money in dozens of currencies. The. Save my name, email, and website in this browser for the next time I comment. Since the introduction of the first Nigerian currency, it has undergone several readjustments, redesign, introduction and withdrawal of new banknotes and coins.Old NGN500 note will cease to be a legal tender January 31, 2023. There were plans to make the 10, 20 and 50 naira polymer banknotes,but the 5,10 and 50 were delayed to late 2009 and only the 20 was released in a polymer. We use the mid-market rate for our Converter. Explore the account used by 13 million people to live, work, travel and transfer money worldwide. While some banks sell dollars at NGN505, the blackmarket (parallel market) ranges from NGN570 to NGN580, thereby creating a wide gap that an economist once described as CBN manipulative standto cover up irregularities. But dont take our word for it. The naira is the currency of Nigeria. (four hundred sixty thousand four hundred seventy Nigerian Naira) ↻ To know how much is 1000 U.S. Dollar in Nigerian Naira, Enter the amount of money to be converted from U.S. Dollar (USD) to Nigerian Naira (NGN), it is converted as you type. The current exchange rate is 0.355. 1,000 KRW to NGN - Won to Naira. The same year, ProfessorChukwuma Soludo(CBN governor) disclosed that the weekly central bank auctions of foreign currency will gradually be phased out. The Nigerian currency is in coins and banknotes. The12kobo coins were minted onlyin 1973 till they faded off the economy. There were criticisms from across Nigeria, including the lawmakers at the National Assembly, Abuja, saying if the new NGN5,000 notes were introduced it would not only render other lower denominations valueless, but the idea would trigger high inflation and bring more hardship upon Nigerians. Cmke 1000 canadian dollar to naira. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. That means only you can get to your money. Performance & security by Cloudflare. IFC Markets Ltd is registered under No. The notes are similar tothe existingissue with the portrait of Chief Obafemi Awolowo on the front, but includeda new colour scheme, revised security features, and the text One Nigeria, Great Promise in microprintingmakes it more unique. Your IP: $1 = 459.96 -0.17 (-0.04%) at the rate on 2023-03-01. Originally scheduled for launch on October 1, 2021, to commemorate Nigerias Independence Anniversary, it was postponed to October 25, 2021 due to some criticisms the CBN had to correct. We utilize mid-market currency rates to convert NGN against USD currency pair. The current exchange rate is 126.0643. 1,000 NGN. The country gained independence on October 1, 1960. Our smart tech means were more efficient which means you get a great rate. Exchange and get: 0.17 000. Is the Nigerian naira getting stronger? It uses(sign) andNGN(code). For instance, the bank used .com TLD while there is the availability of .ng or gov.ng for its official portal. You can email the site owner to let them know you were blocked. 1000.00 UAH = 12301.30 NGN Follow news in the Economic Calendar. 10 100 1000 1000.00 USD = 460495.38 NGN Follow news in the Economic Calendar Currency converter - Light Version The fast and reliable converter shows how much you would get when exchanging one thousand US Dollar to Nigerian naira. Forcing people to exchange old. Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. 1000 canadian dollar to naira. Users have rated this wine 3.5 out of 5 stars. An alternate rate is the cost for exchanging one currency for another. Simply type in the box how much you want to convert. Last week, the Central Bank of Nigeria announced an unorthodox inflation-fighting measure: a redesign of its 100-, 200-, 500-, and 1,000-naira currency notes. Use "Swap currencies" to make Nigerian Naira the default currency. Wise US Inc is authorized to operate in most states. The portrait of Alhaji Sir Ahmadu Bellothe former Premier of Northern region is on the NGN200. While the apex bank was battling with how to control the pressure on the fiat currency Naira notes, it introduced a Central Bank Digital Currency dubbed eNaira. At the time of publication (Wednesday, March 30, 2022), the individual speed wallet had 100K downloads while the merchant version had 50k+ downloads with terrible reviews. is nice atleas dollar don the come down Lol. Alhaji Sanusi, a former Group Managing Director of First Bank Plc, sold the idea of the new NGN5k notes to the administration of Goodluck Jonathan which he accepted. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. The most favorable exchange rate for the current 7 days, was 126,405.75. Join more than 6 million people who get a better deal when they send money with Wise. This Spanish Peseta and Nigerian Naira convertor is up to date with exchange rates from February 2, 2023. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); This site uses Akismet to reduce spam. According to CBN Governor, Godwin Emefiele, the action was to take full control of the currency in circulation and eliminate counterfeiting banknotes in circulation among other reasons for redesigning the currency. The cost of 1,000 United States Dollars in Nigerian Naira today is 458,594.07 according to the "Open Exchange Rates", compared to yesterday, the exchange rate decreased by -0.26% (by -1.20). $1000 = 460,470.00 NGN as of today, Wednesday 01 March 2023, 01:33 pm, GMT. The plan was later shelved by the administration. I want to convert 100 dollars to naira, please. More Mexican Peso info NGN - Nigerian Naira Risk Warning Notice: Your capital is at risk. The currency calculator provides an ideal tool for investors investing in international stock exchanges with different currencies. Copyright 2023 Infomediang Business Solutions. Exchange rates for conversion of 1000 U.S. Dollar (USD) to Nigerian Naira (NGN) today Sun, 08 Jan 2023. Leveraged products may not be suitable for everyone. Insured by AIG Professional Indemnity Insurance for Financial Institutions. Set an alert now, and we'll tell you when it gets better. ? Click to reveal My friend has 460 naira in his bank account in Nigeria how much is that in American dollars, 50kobo times 5million dollars is how much, please replay to me now please, Your email address will not be published. Select the period for plotting the chart. And with our daily summaries, youll never miss out on the latest news. The military regime of Gen Yakubu Gowon who was the leader of Nigeria at the time launched the new Nigerian currency amid funfair. Maine Bluebird. Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Welcome to the Dollars to Nigerian Naira page, updated every minute between Sunday 22:00 and Friday 22:00 (UK) 1 USD = 460.3093 NGN Save 3-5% on your Dollars to Nigerian Naira money transfer today The Dollar to Nigerian Naira exchange rate (USD NGN) as of 27 Feb 2023 at 1:00 PM. Receive daily email about the USD NGN exchange rate. This means that eNaira has the same value as the fiat currency. And in 1985, $1was just 89kobo. Photo by NigeriaGov. For instance, 500 naira came into being in 2001 andby October 12, 2005, the highest currency 1000 naira(NGN1,000) was introduced. Need to know when a currency hits a specific rate? And on June 20, 2016, the naira was allowed to float, after being pegged at 197 to one US dollar at the official CBN exchange rate. We utilize mid-market currency rates to convert QAR against NGN currency pair. The exchange rate goes up to 420 and 450 with local exchangers, and the best exchange rate goes for over 650/$ with fnfSwap by Isuawealthyplace. Maine Bluebird. All the circulating coins of the Nigerian pound were withdrawn from circulation and replaced with the coins of the new currency. $1000 USD to NGN, I need an update US dollars to Naira, every Tuesday Ola Vincent5 nairaJuly 2, 1979Gen Olusegun ObasanjoDr. On September 20, 2012, the president instructed the Sanusi-led CBN at the time to put the idea of the new naira notes on hold. to naira, $5= 2,302.35 NGN as of today, Wednesday 01 March 2023, 01:33 pm, GMT. = 0 NGN 1 United States dollar = 0 Nigerian. Innovative Method of CreatingOwn Instruments, Real time Spanish Peseta to Nigerian Naira conversion rates - continuously updated directly from the interbank market, IFCMARKETS. The polymer notes were lighter, water-resistant and looked more beautiful than the old notes, but poor handling among Nigerian users called its usability to question. Wise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money. An alternate rate is the cost for exchanging one currency for another. how much is 1 USD dollar in nigeria. The exchange rate of the United States Dollar in relation to the Nigerian Naira on the chart, the table of the dynamics of the cost as a percentage for the day, week, month and year. The table shows the facts and analysis of the fluctuations. FG okays introduction of 5,000 naira note, parallel market price (blackmarket rate) is, plan to reintroduce coins into Nigerias economy, Nigerias digital currency holds a lot of possibilities, Importance of Accounting for Small Businesses, 8 Cheapest Ways to Send Money from the UK to Ghana, 3 Best Ways to Send Money from the UK to Nigeria, WhyA Strong Dollar Is Bad for Emerging Economies, 4 Ways to Exchange Currency for Foreign Trip. The eNaira will be an electronic version of the local paper naira currency, equal in value and issued by the Central Bank of Nigeria. It is not intended to replace cash but will function as a safe and efficient alternative means of payment. Conversion from Nigerian naira to United States dollar can. Get also a Rial to Naira currency converter widget or currency conversion guide sheet or chart for your website. Wants to sell out his Tank farm, here in Nigeria, all equipments are in place. Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. The Mauritian rupee is the currency of Mauritius. Last updated on November 23rd, 2022 at 11:58 am. Create a chart for any currency pair in the world to see their currency history. Compared to a month ago, the Nigerian naira is getting weaker against the US dollar. On February 28, 2007, new versions of the 5 to 50 naira banknotes were introduced. Set an alert now, and well tell you when it gets better. Explore the account used by 13 million people to live, work, travel and transfer money worldwide. On November 23, 2022, NGN200, NGN500, and NGN1,000 get a new design, which was launched in Abuja by President Muhammadu Buhari. Wise takes the stress out of sending large amounts of money abroad helping you save for the important things. You wont receive this rate when sending money. Later prints corrected the factual error and removed the reference to FCT, ABUJA. 1000: 10.78 5000: 53.9 10000: 108 20000: 216 50000: 539 100000: 1078 300000: 3234 500000: 5390: Your email address will not be published. Our smart tech means were more efficient which means you get a great rate. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. In order to control the impact of inflation as a result of a reduction in fuel subsidies, the apex bank maintained the key interest rate at 12 per cent. 1000 naira (1000) Due to high inflation, all the coins (1 kobo, 2 kobo, 5 kobo, 10 kobo, and 20 kobo) are no longer in use, though there was another plan to reintroduce coins into Nigeria's economy by the country's House of Representatives as one of the moves to curb inflation. Apart from the coins, 5 naira and 10 naira banknotes are now worthless because of their lesser value. The currency code for Mexican Pesos is MXN. 1000 ESP to NGN Online Currency Converter (Calculator). Although, the CBN had received the blessing of Jonathan on December 19, 2011, when the Project Cure on currency restructuringwas kick-started by Nigerias apex bank. As a military head of state, Obasanjo introduced four, as a civilian president, he launched four banknotes. $5 to NGN, pls can I change dollars into naira in any bank in Nigeria. These currency charts use live mid-market rates, are easy to use, and are very reliable. Between 1973 the CBN official exchange rate was NGN0.658 to a dollar, 10 years after, $1 was exchanged for NGN0.724. Click on the drop-downs to select the currencies you want to convert between. Ola Vincent20 nairaFebruary 11, 1977Gen Olusegun ObasanjoMallam Adamu Ciroma50 nairaOctober 1991Gen. For instance, the apex bankclaimed it attempted to control the annual inflation rate below 10per cent, but in 2011, it keyed the interest rate six times, rising from 6.25per cent to 12 per cent. Click on Nigerian Nairas or Spanish Pesetas to convert between that currency and all other currencies. These are the highest points the exchange rate has been at in the last 30 and 90-day periods. Feel free to try convert more. In 1991, smaller 1, 10 and 25 kobo coins were issued in copper-plated-steelwhile 50 kobo and 1 naira were nickel-plated-steel. CALDOW LIMITED with its registered address at Arch. United States dollar to Nigerian naira (USD to NGN) Quickly and easily calculate foreign exchange rates with this free currency converter. 1000 USD = 459,964.88 NGN at the rate on 2023-03-01. Ibrahim BabangidaAlh. Between 1972 to 1985, naira was stronger than the USD. The 2 coinraised a lot of questions bothering on usability. The cost of 1,000 Moroccan Dirhams in Nigerian Naira today is 44,803.82 according to the "Open Exchange Rates", compared to yesterday, the exchange rate remained unchanged. The apex bank gave May 31, 2007, as a deadline for Nigerians to exchange the old currency for new ones. University of Maine overall ranking by ARWU is #401 out of 1000 globally, #43 out of 185 in USA for the year 2022 and for the Sciences stream, it ranks #51 out of 500 in global ranking, #26 out of 148 in USA for the year 2022. Compared to the previous close exchange rate, Nigerian Naira decreased by -0.1% (-121.92) vs. Qatari Rial. 1000 180: 2000 360: 5000 901: 10000 1802: 30000 5407: 50000 9012 0.1802 per Naira Tue, 28 February, 2023: Print Pocket Guide. The current exchange rate is 0.0303. 1000 maine currency to naira. The PayPal exchange rate from Dollar to Naira today using the local bank is 420/$. Add to wallet. These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. = I have British East India Coins of year 1818 and so on Interested Buyers can contact me immediately. Coming Soon.5,000Naira Notes Sanusi Lamido Sanusi Confirms Introduction of New Notes featuring prominent 3 Nigerian Female Activists. Historical Exchange Rates For Mauritian Rupee to Nigerian Naira 120-day exchange rate history for MUR to NGN Quick Conversions from Mauritian Rupee to Nigerian Naira : 1 MUR = 9.9346551 NGN Last Updated 2/28/2023 8:27:30 AM Europe With the currency converter, you can convert 1,000 United States Dollars to Naira and find out how much one thousand dollars is currently worth in Naira. It is subdivided into 100 kobo. Leontiou 187, 4th floor, 3020, Limassol, Cyprus is a payment agent of IFCMARKETS.CORP incorporated in the Republic of Cyprus under registration number HE 335779. With our tiered pricing for large amounts, you get a lower fee on any transfers over 100,000 GBP. On August 23, 2012, the governor of the Central Bank of Nigeria at the time Sanusi Lamido Sanusi disclosed that Nigeria would introduce 5,000 Naira notes. While the idea looks brilliant to the brains behind the proposed NGN5,000 banknote, Nigerians kicked against it and the government of Jonathan bowed to public pressure. Also, you can convert in the reverse direction (from NGN to USD). Till December 31, 1972, the official currency in Nigeria was the Nigerian pound. Exchange rates oscillate recurrently all through the week since currencies . CORP. is incorporated in the British Virgin Islands under registration number 669838 and is licensed by the British Virgin Islands Financial Services Commission (BVI FSC) to carry out investment business, Certificate No. 1 NGN To USD Convert Nigerian Naira To United States Dollar 1 NGN = 0.002172 USD Feb 27, 2023 20:25 UTC Send Money Check the currency rates against all the world currencies here. 1,000 QAR to NGN - Riyals to Naira How much is .1,000.00 - the one thousand riyals is worth 126,064.27 (NGN) today or one hundred twenty-six thousand sixty-four naira 27 kobos as of 20:00PM UTC. Previous Next. We utilize mid-market currency rates to convert KRW against NGN currency pair. thanks hope to hear from any one. Hi, my name is Benita. According to Exchangerates.org, so far in 2021 the average exchange rate of the Indian rupee to the Naira has been 1 INR to 5.4 NGN. But the app continues to get low patronage among Nigerians. Although, the official CBN of USD to naira has been described as manipulative several times by some monetary experts and economists, saying it was not a thorough reflection of the power of the naira in the exchange market against its competitors. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. Lets hear your voice in the comment section below, How much is 1000 dollars in Naira black market, 5000$ Dollars to Naira Black Market Rate|Convert 5000 Dollars To Naira, 50$ Dollars to Naira Black Market Rate 2023 Convert 50 Dollars To Naira, Dollar (USD) to Naira Black Market Rate Today 2023 Aboki. The currency symbol is . BUsiness How one can Decide an Trade Rate. Last Updated: Thursday 02 February 2023, 04:33 am, Lagos., Nigeria 1000 (SGD) Singapore Dollar= 353,075.5725 (NGN) Nigerian Naira (three hundred fifty-three thousand seventy-five Nigerian Naira and fifty-seven kobo)