Dollar To Naira Exchange Rate Today, 28 February 2022

Friday, 25th February 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.

The official rate today, Friday, February 25th, 2022, for $1 dollar to naira = ₦415.35/$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 ₦415.35/$1 on Friday 25th, after it closed at ₦416.00 to a $1 on Thursday, 24th January 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 Friday, February 25th 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 ₦415.35/$1 on 25th and closed at ₦416.00/$1. Showing a change of -0.06%.

According to data from FMDQ, forex daily turnover stands at $134.39 million.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦405.00

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.

Seplat Buys Shallow-water Business Assets From ExxonMobil For $1.283bn

Nigerian independent oil and gas company, Seplat Energy has agreed to purchase an equity interest in ExxonMobil Corporation’s shallow-water business, Mobil Producing Nigeria Unlimited (MPNU).

Naija News reports that the Manager, Media and Communications, MPNU, Oge Udeagha, made this known in a statement issued on Friday.

Udeagha disclosed that Seplat Energy agreed to buy the assets through its wholly-owned subsidiary, Seplat Energy Offshore Limited for $1.283 billion, adding that the transaction would close later this year pending regulatory approvals.

She added that ExxonMobil would retain its deepwater assets, adding that the sale of MPNU supported the company’s investment strategy and Nigeria’s efforts to enhance industry participation.