Dollar To Naira Exchange Rate Today, 4 March 2022

Thursday, 3 March 2022: This is the news about the Dollar to Naira rate at the official and black market exchange rate.

Read Naija News update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Thursday, March 3, 2022, for $1 dollar to naira = ₦415.91/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.91/$1 on Thursday 3rd, after it closed at ₦416.50 to a $1 on Wednesday, 2nd March 2022.

Naija News reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.

How much is a dollar to naira today in the black market?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N571 and sell at N576 on Thursday, March 3rd 2022, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦415.91/$1 on 3rd March and closed at ₦416.50/$1.

According to data from FMDQ, forex daily turnover stands at $91.21 million.

Spot rate: The dollar sold to the naira as high as ₦415.41 and as low as ₦416.41

A spot exchange rate is the current price level in the market to directly exchange one currency for another, for delivery on the earliest possible value date.

Pencom Approves Acquisition Of Pension Operators By GTCO, FCMB

Financial sector, Guaranty Trust Holding Company Limited has been approved to acquire Investment One Pension Managers Limited.

The development was announced in a statement dated Wednesday, March 2 which was released by the National Pension Commission, Naija News reports.

The Commission said it also approved the subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.

PenCom also gave approval for the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited.