#Business news

Black Market Dollar To Naira Exchange Rate Today 24 December 2021

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

The official rate today, Friday December 24th, for $1 dollar to naira = ₦413.54$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦413.54/$1 on Friday 24th, after it closed at ₦414.73 to a $1 on Thursday, 23rd December 2021.

How much is exchange rate of Dollar to Naira in Black Market today?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N565 and sell at N568 on Friday, December 24th 2021, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognise 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 ₦413.54/$1 on 24th December 2021 after closing at N414.73/$1. Showing a change of -0.06%.

According to data from FMDQ, forex turnover stands at $107.92 million.

Meanwhile, Titan Trust Bank Limited (TTB) owned by Tunde Lemo, who is a former Deputy Governor of the Central Bank of Nigeria (CBN), has taken over Union Bank.

The Board of Union Bank of Nigeria Plc (Union Bank) on Thursday notified the NGX and Securities Exchange Commission of the take over.

According to Union Bank board, its investors Union Global Partners Limited, Atlas Mara Limited and other shareholders reached an agreement with Titan Trust Bank Limited (TTB) to divest their shareholding in Union Bank to TTB. It was gathered that the agreement, which is subject to regulatory approvals and other financial conditions, will upon completion transfer 89.39% of Union Bank’s issued share capital to TTB.

Speaking in the take over, Tunde Lemo expressed delight, stating that the transaction marks a key step for Titan Trust in its strategic growth journey. The former CBN boss added that the deal will propel the institution to the next level in the Nigerian banking sector.

“The deal represents a unique opportunity to combine Union Bank’s longstanding and leading banking franchise with TTB’s innovation-led model which promises to enhance the product and service offering for our combined valued customers,” Lemo said.

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