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Euro To Naira Exchange Rate For Today 3 February 2022

✔ Fact Checked by TDPel News Desk
By Tolulope Dolapo Thomas
Published: February 3, 2022 | 3:45 PM

The local currency began at 625 per €1 on the parallel market, often known as the black market, in Lagos, Nigeria, today, Thursday, February 03, 2022, after closing at 645 per €1 on Wednesday, February 02, 2022. This is a 20 percent change.
What does it cost to buy euros or convert naira to euros?

The black market, the players buy euro for ₦620 and sell for ₦625 on Thursday morning 03 February 2022, after they bought ₦640 and sell for ₦645 on Wednesday morning, 01 February 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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Tolulope Dolapo Thomas

About Tolulope Dolapo Thomas

Tolulope Dolapo Thomas, BSc, is a Public Health Educator and Broadcast Journalist with extensive experience in radio and television. She specializes in Health Promotion, Sexual and Reproductive/Fertility Health, and Environmental Health. Certified in CPR and First Aid, Tolulope is passionate about empowering women through evidence-based public health education, fertility awareness, and community sensitization. She is currently pursuing an MSc in Public Health and is the founder of Everywoman Health by TD, a women-focused health platform dedicated to providing accurate, accessible, and trustworthy guidance for women at every stage of life.