Business
Unity Bank Boosts Capacity Building on Blue Economy, Empowers 3,000 Girls
No fewer than three thousand girls drawn from Senior Secondary Schools across Nigeria have benefitted from a 3-day capacity building initiative on maritime commerce and National Virtual Maritime Quiz powered by Unity Bank Plc.
The capacity building initiative, which focused on Information Communication Technology, ICT, maritime transportation and logistics ecosystem, was hosted by Ocean Ambassadors Foundation to promote the participation of Indigent Girl-Child in maritime commerce.
Unity Bank partnered the programme as part of the Bank’s Corporate Social Responsibility initiatives targeted at the education sector and to draw attention to the imperatives of training the girl-child to participate actively in the relevant sectors of the economy.
This is coming against the backdrop of the negative impact of COVID-19 on the education sector which has affected millions of girls across Nigeria, resulting in “many girls being unable to return to schools and many others becoming child brides,” according to a recent report by the Economist.
The programme coincided with the International Day of the Girl-Child which was marked to highlight how “the pandemic has accelerated digital platforms for learning, earning and connecting, while also highlighting girls’ diverse digital realities”.
The Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun represented by the Chief Customer Service Officer, Mrs. Titilayo Abraham officially opened the event. Commenting on the initiative, she stated that: “Unity Bank has maintained its commitment to supporting the girl child by supporting several advocacy initiatives and investing in the education sector. The National Maritime Quiz is yet another opportunity to contribute to the movement to encourage, educate and empower the Girl-Child to participate in the economy while driving access to education.”
“We commend the Ocean Ambassadors Foundation for their initiatives aimed at bridging the gender gap in the ICT, maritime, transportation, and logistics sectors in Nigeria.”
Unity Bank has in time past demonstrated commitment to supporting the education sector, especially for initiatives targeted at children. One of the Bank’s flagship initiatives – One Minute Genius (OMG) and others such as Unity Bank Spelling B Competition, One Day CEO, are annual educational platforms of the Bank aimed at boosting financial literacy among Nigerian children.
The organisers, Ocean Ambassadors Foundation commended Unity Bank, adding that “the sensitization for the Girl-Child to take advantage of career opportunities in the ICT and maritime cannot be over-emphasized.
Naira has fallen massively with the dollar maintaining a strong position in the black market.
Techscoops reports that the Nigerian official currency, the naira has fallen massively against the United States dollar exchanging at N597/$1 weeks after a steady exchange rate of N588/$1
A survey conducted by financial experts at the Bureau De Change (BDC) market in Lagos, Nigeria’s commercial city, Tuesday afternoon, May 17, 2022, showed that the naira to usd exchanged at N597/$1, failing to maintain the N580 position of 1 dollar to naira it stood for weeks, months after USD to naira exchanged for N530/$1.
Naira to dollar falls massively at Aboki black market (parallel market)
Dollar to naira exchange rate for Tuesday, May 17 goes for [N593 to buy and N597 to sell].
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 593 |
| Selling Rate | 597 |
Techscoops Nigeria reports that the players in the parallel market better known as the black market bought a dollar at N593 and sold for N597 on Tuesday afternoon, May 17, 2022.
The exchange rate between the naira to dollar and dollar to naira on Tuesday afternoon showed that the Nigerian official currency, the naira has fallen against the United States dollar months after a steady rise which saw it gain over N25 since it fell to its lowest of N575 to a dollar on September 20, 2021.
Meanwhile, Newsone Nigeria reports that this is coming months after the Central Bank of Nigeria (CBN) had on July 27, 2021, suspended foreign exchange (forex) sales to BDC operators and directed all those with a genuine need for forex to revert to banks. The naira lost value at a whooping N85 to the dollar in less than two months from N490/$1 to N575/$1 on September 20, 2021.
Even though the dollar to naira opened at the parallel market (black market) at ₦597 per $1, Techscoops reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
Disclaimer: TECHSCOOPS NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
Find below, Dollar to Naira exchange rate for today, 17 May 2022, official and black market rates.Techscoops has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.
What Is The Official Exchange Rate For Dollar To Naira Today?
The exchange rate between the Naira and the US dollar at the official forex market showed that the Naira opened at ₦415.8832 per dollar on Tuesday, May 17, 2022, after closing at ₦415.6642 per $1 Monday, May 16, 2022.
Exchange Rate of Dollar To Naira in The Parallel Market [black market]
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 593 |
| Selling Rate | 597 |
Techscoops Nigeria reports that on the black market, the players buy a dollar for N593 and sell for N597 on Tuesday, May 17, 2022, after they bought N590 and sold for N595 on Monday, May 16, 2022.
Meanwhile, Techscoops reports that the USD started this week at ₦595 in Parallel Market also known as Black Market on Monday, May 16, 2022, in Lagos Nigeria, after it opened at 588 last week Monday, May 9, 2022.
![Dollar To Naira Exchange Rate For Today 17 May 2022 [Official Rate]](https://techscoopsng.com/wp-content/uploads/2022/05/98a85a871d0047f0cb8c446f691e52d2.jpg)
Even though the dollar opened in the parallel market for ₦597 per $1 today, the CBN does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said during a press briefing on September 17, 2021.
Checks by Techscoops online reveal uncertainty in the market as prices move up and down in a directionless manner, thereby making it unreliable.
Disclaimer: Techscoops does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
What is 1$ to naira in black market?
Dollar to Naira Black Market rate – Here is the current USD to Naira rate today. See CBN & black market exchange rate for dollar to naira aboki fx. You change your USD to naira at these rate or convert dollar to naira at the latest black market rate or parallel market.
Many Nigerians prefer to exchange their foreign currencies especially the US Dollars to naira using the black market because the exchange rate is very high compared to what the bank offers. If you want to know the current black market rate, here is the page to find that.
Aboki fx dollar to naira exchange rate has also been added here so you can easily verify each of the rate for the currencies you want to exchange in the parallel markets. Aboki fx is the most trusted source for black market dollar to naira rate today. You can find their exchange rate for today here.
How much is $100 dollar in Nigeria now?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 58000 |
| Selling Rate | 58500 |
What is the current dollar to naira exchange rate in parallel market? Well, it may interest you to know that Dollar to Naira rate in the black market sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).
The price listed above is the current USD to Naira exchange rate. We will always update the latest rate on a daily basis to keep you informed. Dollar to Naira Exchange Rate is the current exchange equivalent of the United States Dollar. Rate varies for various banks and parallel markets.
How much is $1000 in naira today?
Use the calculation of $100 to check this 585000
How much is 1 Dollar in Naira presently?
Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at 573 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.
As Naira is falling, inflation takes over the economy which usually affects the citizens. Central Bank Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.
The black market commonly referred to as Aboki market rate for dollars is usually higher than the exchange rate at the banks which is usually regulated by the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate you can buy or sell dollars for naira listed on CBN dollar to naira website cbn.gov.ng.
Dollar to Naira bank rate is the rate you use when purchasing something from foreign websites using your Naira Mastercard or Debit card from Nigerian Banks. These rate normally would always be lower than what is obtainable in the black market.
What’s your Opinion on Dollar to Naira Black Market Exchange Rate Today, let us know what you think and how the Government can work with the CBN to provide reasonable USD to naira rates in the future.
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