Pounds To Naira Exchange Rate For Today 20 January 2022

Black Market Pounds To Naira Exchange Rate January 20th, 2022.

Gatekeepers News has obtained black market pounds to naira exchange rate for today 20th January 2022 and can be accessed below.

On this page, we bring to you the black market pounds to naira exchange rate because our readers will love to know how much is pounds to naira today in the market. We have therefore sourced the figures from various Bureau De Change (BDC) markets in Lagos, Nigeria’s commercial city to give you the pounds to naira black market today.

Gatekeepers News reports that the local currency opened at ₦735 per £1 at the parallel market otherwise known as the black market, today, Thursday, 20 January 2022, in Lagos Nigeria, after it closed at ₦730.00 per £1 on Wednesday, 19 January 2022. This represents a change of N5 from the previous day.

How much does it cost to buy pounds or change naira to pounds?

Gatekeepers News reports that in the black market, the players buy pounds for ₦730 and sell for ₦735 on Thursday morning, January 20, 2022, after they bought ₦725 and sold for ₦730 on Wednesday morning, January 19.

Meanwhile, Gatekeepers News reports that the euro started this week at ₦730 in the parallel market also known as the black market on Monday, January 17, 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.

Checks by Gatekeepers News reveal uncertainty in the market as prices move up and down in a directionless manner, thereby making it unreliable.

Disclaimer: Gatekeepers News does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.