Pounds To Naira Exchange Rate For Today 8 February 2022

Pounds To Naira Exchange Rate For Today 8 February 2022

The local currency began at 745 per £1 on the parallel market, often known as the black market, in Lagos, Nigeria, today, Tuesday, February 08, 2022, after closing at 745 per £1 on Monday, February 07, 2022.
What is the cost of purchasing pounds or converting naira to pounds?
The black market, the players buy pounds for ₦740 and sell for ₦745 on Tuesday morning, February 8, 2022, after they bought ₦740 and sold for ₦745 on Monday morning, February 7, 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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