Truetells Nigeria 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?
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 ₦(yet to be disclosed)/$1 on Monday 24th, after it closed at ₦416.00 to a $1 on Friday, 21st January 2022.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N560 and sell at N565 on Monday, January 24th 2022, 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.
Dangote Cement Plc, which represents roughly half of the entrepreneur’s $20.4 billion net worth, closed at its highest level since 2010, adding to the 11% gain in 2022, compared to 7.59 per cent for the Nigerian exchange’s main board in Lagos. The Lagos-based company recently completed a share buyback to boost its value.
According to the Bloomberg Billionaires Index, Dangote is one of only 35 billionaires among the world’s top 100 wealthiest individuals who saw their fortunes grow in January. Gautam Adani, India’s second wealthiest individual, has increased the most, rising $13 billion to $89.5 billion.
With the completion of a $19 billion refinery project, the Nigerian cement tycoon is on track to double his wealth this year. The crude processor’s 650,000 barrels per day capacity is sufficient to meet all of Africa’s domestic fuel needs while also increasing exports.
Dangote was born into a prosperous Muslim family of northern traders, which positioned him well to launch his own cement business at the age of 21. In the 1990s, aided by government policies emphasizing ways to reduce reliance on imports, he transitioned to manufacturing the building material.
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