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SEE Naira to Euro Exchange Rate Today – Black Market, CBN Rates | October 18, 2024

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By Kayode Sanni-Arewa

Looking for the latest Naira to Euro exchange rate today? Whether you’re conducting business, making investments, or planning a trip to Europe, staying updated on the exchange rate is crucial. This article provides up-to-date information on the black market, Central Bank of Nigeria (CBN), and online exchange platforms to help you make informed decisions. What is 1 Euro to Naira Today in Black Market and CBN? With the fluctuating nature of the Naira against foreign currencies like the Euro, many Nigerians are keen to know the most recent rates. The Naira to Euro exchange rate in both the black market and CBN offers different values based on market dynamics and economic policies

Current Exchange Rates for 1 Euro to Naira Today Naira to Euro Black Market Exchange Rate (Parallel Market) Buying Rate: ₦1,862 Selling Rate: ₦1,865 1 Euro to Naira Today (CBN Official Rates) Buying Rate: ₦1,790 Selling Rate: ₦1,795 Other Exchange Rates Today: Dollar and Pounds to Naira Dollar to Naira (Black Market Rates) Buying Rate: ₦1,705 Selling Rate: ₦1,710 Pounds to Naira (CBN Rates) Buying Rate: ₦2,205 Selling Rate: ₦2,210 Online Platforms for Naira to Euro Exchange Rates: Geegpay and Grey In addition to the black market and CBN rates, online platforms like Geegpay and Grey offer convenient options for currency exchange. These platforms provide competitive rates and are popular alternatives to both black market and CBN channels.

Geegpay Exchange Rates EUR (€): Buying at ₦1,798.03, Selling at ₦1,800.55 GBP (£): Buying at ₦2,120, Selling at ₦2,127 USD ($): Buying at ₦1,675, Selling at ₦1,680 Grey Exchange Rates for EUR to NGN EUR (€): Buying at ₦1,845.03, Selling at ₦1,850 GBP (£): Buying at ₦2,102, Selling at ₦2,205 USD ($): Buying at ₦1,670, Selling at ₦1,675 Understanding the Naira to Euro Black Market Exchange Rate What is the Black Market? The black market is an unofficial exchange market where currency rates are determined by demand and supply without government regulation. It operates outside the control of the CBN, and often, exchange rates are higher here due to the scarcity of foreign currencies like the Euro.

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Why Do People Use the Black Market for Naira to Euro Exchange? Better Rates: Black market rates are typically more favorable compared to the official CBN rates. Accessibility: It’s easier for individuals and businesses to access foreign currencies through the black market, as CBN restrictions often limit the amount of foreign currency available. FAQs on Naira to Euro Exchange Rate 1. Why is there a difference between the CBN and Black Market rates? The black market operates based on supply and demand, while the CBN controls the official rate to maintain currency stability. Due to currency scarcity, black market rates are often higher.

2. Can I exchange Euros at the CBN rate? In most cases, the CBN exchange rate is reserved for specific transactions like government-approved imports or remittances. Many individuals and businesses resort to black market rates for quick and accessible foreign exchange.
3. Why is the black market exchange rate higher? The black market rate is driven by the demand for foreign currency. As supply decreases, the value of the Euro against the Naira rises, causing higher parallel market rates. 4. Is it safe to use online exchange platforms like Geegpay and Grey? Yes, online platforms such as Geegpay and Grey offer secure and regulated options for exchanging currency. However, it’s important to use trusted and licensed platforms.

5. Will the Naira continue to fall against the Euro? The future of the Naira to Euro exchange rate depends on several factors, including government policies, global oil prices, and economic stability. Without intervention, depreciation could continue. 6. How often do exchange rates change? Exchange rates fluctuate daily due to various factors such as foreign currency reserves, local economic policies, and global market conditions.

Why It’s Important to Stay Updated on Naira to Euro Exchange Rates Understanding the Naira to Euro exchange rate today, whether from the black market, CBN, or online platforms, is essential for making informed decisions. Whether you’re exchanging currency for business, travel, or investment, knowing the current rates can help you plan your finances better.

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Historical Trends in Naira to Euro Exchange Rates In October 2023, the black market rate for the Euro stood at around ₦1,500 per Euro. Over the past year, the Naira’s depreciation against the Euro has accelerated, reflecting the economic pressures Nigeria faces, including inflation and foreign currency shortages

Black market Dollar to Naira exchange rate today May 2, 2024: GBP, EUR to Naira Dollar to Naira Exchange Rate at Black Market (Aboki FX) July 13, 2024: USD to NGN CBN Rate 100 dollars to Naira black market today, April 4, 2024 Dollar To Naira 7th August 2024: See Black Market Aboki FX Rate Dollar to Naira Black Market Exchange Rate – October 5, 2024 Latest Update

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Ecoparl: Senator Barau Urges ECOWAS to Tackle Root Causes of Farmer-herder Conflicts

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By Gloria Ikibah

Deputy President of the Nigerian Senate and First Deputy Speaker of the ECOWAS Parliament, Senator Barau Jibrin, has urged West African countries to draw lessons from Nigeria’s experience with farmer-herder conflicts and the humanitarian crises arising from them.

First Deputy Speaker made the call in a presentation titled, “Strategies for addressing internal displacement and farmer-herder conflicts in Nigeria”, delivered on his behalf by Senator Sadiq Umar during the Second Extraordinary Session and Seminar of the ECOWAS Parliament in Accra, Ghana.

He said Nigeria’s experience offered important lessons for the region and the African continent, particularly in addressing conflicts linked to competition for land and water.

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According to him, Nigeria has extensive agricultural and pastoral economies, with a large proportion of the population depending on farming and livestock production for their livelihoods.

He, however, said increasing pressure on land and water resources had contributed to conflicts, banditry, terrorism and other humanitarian disasters.

Barau said the Federal Government had introduced measures to address the humanitarian consequences of the conflicts, including the creation of the Ministry of Humanitarian Affairs and Poverty Reduction.

He said the ministry was, among other responsibilities, established to manage emergency relief operations and responses to internally displaced persons (IDPs).

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He said: “Nigeria’s approach is increasingly consistent with the international shift from short-term humanitarian response towards government-led development-orientated solutions.

“Nigeria is also one of the countries selected under the United Nations Secretary-General’s Action Agenda on Internally Displaced and Focused National Pathways towards Durable Solutions.

“Nigeria’s commitment to the protection of internally displaced persons has also been strengthened through its engagement with the African Union Convention for the Protection and Assistance of Internally Displaced Persons in Africa, commonly known as the Kampala Convention”.

Despite these interventions, Barau expressed concern that the crisis had continued to defy efforts to resolve it, with more than three million Nigerians still living in internally displaced persons’ camps across the country.

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He argued that internal displacement should not be regarded as the sole responsibility of humanitarian agencies, but should involve coordinated action by relevant Ministries, Departments and Agencies (MDAs), traditional institutions and other stakeholders.

First Deputy Speaker also called for greater attention to early warning systems, conflict prevention mechanisms and climate adaptation as part of efforts to prevent conflicts before they escalate.

He said livestock should not be viewed merely as a security issue but also as an important economic sector capable of contributing to livelihoods and national development.

According to him, investment in ranching, animal feeding and breeding could help reduce some of the pressures associated with uncontrolled livestock movement.

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Barau also urged ECOWAS parliamentarians to develop appropriate legislative frameworks for the protection of displaced persons and the regulation of land and livestock management.

“Parliamentary committees should conduct evidence-based oversight of government programmes and expenditure relating to displacement, security, agriculture, livestock and reconstruction,” he said.

He stressed that Nigeria’s experience had shown that internal displacement and farmer-herder conflicts were complex challenges that could not be resolved through isolated interventions.

The Senator said effective implementation of policies and programmes was equally important to ensuring that farmers and herders could pursue their lawful and productive livelihoods without unnecessary conflict.

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Barau’s presentation focused on Nigeria’s internal security challenges and their socio-economic consequences, while urging other countries in the region to focus more on preventing similar crises rather than waiting to respond after they occur.

“For Africa, the challenge extends beyond responding to crises after they occur, it requires building resilient institutions, economies and communities capable of preventing conflicts and protracted displacement.

“As parliamentarians, we have a responsibility to support appropriate legislation, strengthen oversight, promote inclusive dialogue and ensure that public resources are directed towards sustainable solutions,” he added.

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ECOWAS Parliament Must Stay Close to Citizens – Afenyo-Markin

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By Gloria Ikibah

Third Deputy Speaker of the ECOWAS Parliament and member of Ghana’s delegation, Alexander Kwamena Afenyo-Markin, has called on parliamentarians to remain close to the people they represent and ensure that regional integration delivers tangible benefits to citizens.

Afenyo-Markin made the call during the ongoing Second Extraordinary Session and Seminar of the ECOWAS Parliament in Accra, Ghana, where he formally handed over his responsibilities to George Kweku-Ricketts Hagan of Cape Coast South, following the completion of his tenure.

The outgoing Deputy Speaker said regional integration must go beyond treaties, protocols and meetings among institutions, insisting that its impact must be visible in the daily lives of citizens across West Africa.

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“Regional integration must be understood beyond treaties, protocols and meetings of institutions. Its true value must be felt in our communities, in the opportunities available to our young people, in the movement of our citizens and businesses across borders,” he said.

He said no single member state could successfully confront the challenges facing the region alone, stressing the need for collective action and stronger regional cooperation.

Afenyo-Markin also drew attention to the connection between climate change, poverty and insecurity in the region.

He said climate change could intensify existing pressures, worsen poverty, increase competition over land and water resources and threaten livelihoods.

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He, however, cautioned against attributing every conflict in the region to climate change, urging policymakers to understand the relationship between environmental stress and insecurity without oversimplifying complex conflicts.

The outgoing Deputy Speaker also highlighted the importance of taking parliamentary activities beyond national capitals as part of efforts to bring regional institutions closer to the people.

He recalled the parliamentary seminar held in Congo Town, Liberia, in 2019 and the decision to take parliamentary activities to Winneba, the capital of his constituency, in 2021.

According to him, the initiative demonstrated the importance of taking the parliament to communities rather than limiting its activities to traditional political centres.

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“Winneba subsequently hosted parliamentary activities on four occasions by 2024,” he said.
Afenyo-Markin said the visits provided residents with opportunities to interact directly with the regional institution, including traditional rulers, members of the business community, young people and the University of Education, Winneba.

“We must from time to time, leave the familiar surroundings of our national capital and meet our citizens where they live,” he said.

He noted that the approach had subsequently been extended to other locations, including Kano and Port Harcourt in Nigeria.

The lawmaker, who took time to highlight some of his contributions to his constituency and the wider region, said greater engagement with citizens remained central to strengthening the relevance of the ECOWAS Parliament.

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At the handover ceremony, Afenyo-Markin expressed confidence in his successor, describing Hagan as a worthy parliamentarian with the experience required for the responsibility.

“He is a worthy member of Parliament, who I believe will succeed me in this responsibility. He is bringing his experience in parliamentary diplomacy and an understanding of regional integration to the role.

“Leadership is ultimately about service and continuity,” Afenyo-Markin said.

He also pledged his continued support to the ECOWAS Parliament, assuring that Ghana’s delegation would continue to contribute meaningfully to the work of the regional legislature.

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Speaker Ibrahima Hails Ghana’s Female Vice Presidency, Pushes Diploma Recognition

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By Gloria Ikibah

The Speaker of the ECOWAS Parliament, Rt. Hon. Memounatou Ibrahima, has described Ghana’s decision to elect a woman as Vice-President as an inspiration for women and girls across West Africa.

Speaker Ibrahima stated this when she met Ghana’s Vice-President, Professor Naana Jane Opoku-Agyemang, on the sidelines of the ongoing Second Extraordinary Session of the ECOWAS Parliament and the Second 2026 Parliamentary Seminar in Accra.

She expressed appreciation to the Vice-President for receiving her and for the speech she delivered at the opening of the parliamentary proceedings.

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Ibrahima also commended President John Dramani Mahama and the people of Ghana, saying the country’s choice to have a woman occupy the vice presidency sent an important message across the region.

She said: “By entrusting the vice presidency to a woman, Ghana sends a powerful message to our entire region: that Africa believes in women’s leadership. Her journey is an inspiration to millions of young girls”.

The meeting also focused on the 25th anniversary of the ECOWAS Parliament and its core responsibilities, including issuing opinions on matters referred to it, examining the Community’s budget and conducting oversight missions.

The two leaders further discussed issues affecting young people across the region, particularly the harmonisation of curricula and mutual recognition of academic diplomas among ECOWAS member states.

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Ibrahima said making it possible for qualifications obtained in one ECOWAS country to be recognised in another will strengthen regional integration and make free movement more meaningful.

She said a graduate from Lomé, Abuja or Dakar should be able to have their skills recognised in Accra, describing such recognition as an important step towards building an ECOWAS of the Peoples.

The Speaker thanked the Ghanaian authorities for their hospitality and the organisation of the parliamentary session.

The meeting forms part of the ECOWAS Parliament’s engagement with regional leaders as the institution marks its 25th anniversary and pursues integration priorities, including youth mobility and the recognition of academic qualifications across West Africa.

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Rt. Hon. Ibrahima is the first woman to serve as Speaker of the ECOWAS Parliament since its establishment in 2000, having been elected to lead the sixth legislature in May 2024.

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