Euro To Naira Exchange Rate For Today 7 February 2022

The local currency began at 625 per €1 on the parallel market, often known as the black market, in Lagos, Nigeria, today, Monday, February 07, 2022, after closing at 625 per €1 on Friday, February 04, 2022. This reflects a change of 0 percent.

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 Monday morning 07 February 2022, after they bought ₦620 and sell for ₦625 on Friday morning, 04 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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