Dollar To Naira Exchange Rate Today, 19th July 2022

Monday, 18th July: 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, Monday, July 18th, 2022, for $1 dollar to naira = ₦428.26/$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 ₦428.26/$1 on Monday 18th July, after it closed at ₦430.33  to a $1 on Friday, 15th July 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 N590 and sell at N616 on Monday, 18th July, 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	590
Selling Rate	616

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦428.26/$1 on 18th July, 2022 and closed at ₦429.12/$1. Showing a change of –0.28% and a daily turnover of $95.58 million.

According to data from FMDQ, forward rate went as high as ₦443.00 and as low as ₦422.00.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦414.00.

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.

Senate Orders NIMASA DG’s Arrest Over $9.305bn Loss

The 9th Senate has ordered the arrest of Dr Bashir Jamoh, Director-General of the Nigerian Maritime and Safety Agency, for allegedly paying a law firm $5 million to recover a $9.3bn loss.

The order was given by the Senate Committee on Public Accounts led by Senator Matthew Urhogbide.

The panel noted that Jamoh paid $5m for the intelligence-based tracking of a global movement of Nigerian hydrocarbon and recovery of loss by the Federal Government of Nigeria for $9.3bn between 2013 and 2014.

Senator Urhogbide during a briefing on Sunday expressed his anger with the agency over the failure of NIMASA to appear before the panel, saying that the panel had no other option than to issue a warrant of arrest on the DG of NIMASA.

He said, “We have invited NIMASA up to three times, but they have failed to honour our invitations. This committee has no other option than to issue a warrant of arrest against the Director General of the agency. They can come to the National Assembly for fund appropriation, but when it is time to give account they will be nowhere to be found.

“The committee had invited NIMASA up to three times for the explanation on the payment of $5 million as professional fee and details of $9.3bn loss by the Federal government, but the agency declined the invitation.”