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Dollar To Naira Exchange Rate Today, 16 May 2022

Published by
George Oshogwe Ogbolu
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Friday, 13th May: 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 rate in nigeria 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, Friday, May 13th, 2022, for $1 dollar to naira = ₦417.70/$1.

According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦417.70/$1 on Friday 13th, after it closed at ₦420.00 to a $1 on Thursday, 12th May 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 N585 and sell at N600 on Friday, May 13th 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.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 585
Selling Rate 600

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦417.70/$1 on 13th May, 2022 and closed at ₦419.00/$1. Showing a change of -0.24% and a daily turnover of $169.38 million.

According to data from FMDQ, forward rate went as high as ₦453.25 and as low as ₦421.29.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦412.00.

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.

FG Reveals Ways Hackers Can Unlock, Steal Your Vehicles, Issue Warnings About New Trojan Apps

The Nigerian Communications Commission (NCC) on Sunday alerted telecom consumers and members of the public on an ongoing cyber-vulnerability that allows a nearby hacker to unlock vehicles, start their engines wirelessly and make away with the cars.

This was made known in a statement to Naija News signed by NCC Director of Public Affairs, Dr. Ikechukwu Adinde.

According to the NCC, the fact that car remotes are categorized short range devices that make use of radio frequency (RF) to lock and unlock cars informed the need for the Commission to alert the general public on this emergent danger, where hackers take advantage to unlock and start a compromised car.

According to the latest advisory released by the Computer Security Incident Response Team (CSIRT), the Cybersecurity Centre for the telecom sector established by the NCC, the vulnerability is a Man-in-the-Middle (MitM) attack or, more specifically, a replay attack in which an attacker intercepts the RF signals normally sent from a remote key fob to the car, manipulates these signals, and re-sends them later to unlock the car at will.

With this latest type of cyber-attack, it is also possible to manipulate the captured commands and re-transmit them to achieve a different outcome altogether.

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Published by
George Oshogwe Ogbolu