Euro To Naira Exchange Rate For Today 7 February 2022

Black Market Euro To Naira Exchange Rate February 7, 2022.

Gatekeepers News has obtained black market euro to naira exchange rate for today 7th February 2022  and can be accessed below.

On this page, we bring to you black market euro to naira exchange rate because our readers will love to know how much is euro 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 euro to naira black market today.

Gatekeepers News reports that the local currency opened at ₦625 per €1 at the parallel market otherwise known as the black market, today, Monday, 07 February 2022, in Lagos Nigeria, after it closed at ₦625 per €1 on Friday, 04 February 2022. This represents a Nil change.

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

Gatekeepers News reports that in 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.

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.