We provide you the black market euro to naira conversion rate because we know that our readers are interested in knowing how much the euro to naira exchange rate is today in the market. To give you the euro to naira black market today, we gathered data from several Bureau De Change (BDC) markets in Lagos, Nigeria’s commercial capital.
The local currency opened at ₦630 per €1 at the parallel market otherwise known as the black market, today, Wednesday, 26 January 2022, in Lagos Nigeria, after it closed at ₦645.00 per €1 on Tuesday, 25 January 2022. This represents a nil change from the previous day.
How much does it cost to buy euro or change naira to euro?
The black market, the players buy euro for ₦625 and sell for ₦630 on Wednesday morning, 26 January 2022, after they bought ₦640 and sell for ₦645 on Tuesday morning, 25 January 2022.
Meanwhile,the euro started this week at ₦645 in the parallel market also known as the black market on Monday, January 24, 2022.
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.
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