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Pounds To Naira Exchange Rate For Today 7 February 2022

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By Alan Peterson
Published: February 7, 2022 | 12:23 PM GMT

To provide you the pounds to naira black market today, we sourced the numbers from several Bureau De Change (BDC) markets in Lagos, Nigeria’s commercial capital.
The local currency began at 745 per £1 on the parallel market, also known as the black market, in Lagos, Nigeria, today, Monday, February 07, 2022, after closing at 745 per £1 on Friday, February 04, 2022.

How much does it cost to buy pounds or change naira to pounds?
The black market, the players buy pounds for ₦740 and sell for ₦745 on Monday morning, February 7, 2022, after they bought ₦740 and sold for ₦745 on Friday morning, February 4, 2022. This represents Nil change.
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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About Alan Peterson

Alan Peterson is a talented writer who creates engaging and informative content for TDPel Media. With a keen eye for detail and a passion for storytelling, Alan has established himself as a respected authority in his field. He is a dedicated professional who is committed to providing readers with accurate and up-to-date news and information. Alan’s ability to distill complex ideas into easily digestible pieces has earned him a loyal following among TDPel Media’s readers. In addition to his writing work, Alan is an avid reader and enjoys exploring new topics to expand his knowledge and expertise. He lives in Scotlant, United Kingdom.