Dollar To Naira Exchange Rate Today, 9 March 2022

Tuesday, 8 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, Tuesday, March 8, 2022, for $1 dollar to naira = ₦415.84/$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 ₦415.84/$1 on Tuesday 8th, after it closed at ₦416.34 to a $1 on Monday, 7th 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 N572 and sell at N577 on Tuesday, March 8th 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 ₦415.84/$1 on 8th March and closed at ₦416.34/$1.

According to data from FMDQ, forex daily turnover stands at…

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00

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.

Dangote Sugar Revenue Hits N276.50bn, Courtesy Of Apapa Gridlock

Dangote Sugar company have stated that the Apapa Gridlock impacted its revenue greatly in the last year.

In an operational report made available to newsmen on Tuesday, the company noted that it pocketed the sum of N276.50 billion in revenue to end last year with.

The reported figure was above the N214.30 billion recorded in the year 2020, Naija News understands.

The multinational company said it managed to pull 28.8 percent increase in turnover for the reported period.

The Apapa traffic has been identified as a major challenge to many companies’ operating in Nigeria, and has on several occasions weighed heavily on their earnings.

The founder of Dangote Group, Aliko Danogote had disclosed in 2019 that his companies, Dangote Sugar and Dangote Cement lost over N25 billion to the gridlock in Apapa between 2017 and 2018.