Pounds To Naira Exchange Rate For Today 14 February 2022

Pounds To Naira Exchange Rate For Today 14 February 2022

The local currency opened at ₦745 per £1 at the parallel market otherwise known as the black market, today, Friday, 14 February 2022, in Lagos Nigeria, after it closed at ₦745 per £1 on Friday, 11 February 2022.
In the black market, the players buy pounds for ₦740 and sell for ₦745 on Monday morning, February 14, 2022, after they bought ₦740 and sold for ₦745 on Friday morning, February 11, 2022. This represents Nil change.
The euro started this week at ₦745 in the parallel market also known as the black market on Monday, 14 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.