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SEE Naira to Euro Exchange Rate Today – Black Market, CBN Rates | October 18, 2024
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.
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.
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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Meta flushes out 1,600 FB groups linked to ‘Yahoo Boys’
By Kayode Sanni-Arewa
Meta, the parent company of Facebook, Instagram, and WhatsApp, has taken down another 1,600 Facebook groups tied to Yahoo Boys.
This new crackdown followed an earlier purge in July that saw the removal of 63,000 accounts associated with the scam groups, according to its Q1 2024 Adversarial Threat Report.
It also included the deletion of 7,200 assets in Nigeria, including 1,300 Facebook accounts, 200 pages, and 5,700 groups that were providing scam-related resources.
In a statement released on Thursday, Meta disclosed that these groups were involved in recruiting, organising, and training new scammers.
While Meta has been actively removing these violating accounts for years, it announced the implementation of new processes to speed up the identification and removal of such accounts.
The company explained, “Yahoo Boys are banned under Meta’s Dangerous Organizations and Individuals policy — one of our strictest policies — which means we remove Yahoo Boys’ accounts engaged in this criminal activity whenever we become aware of them.
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We Were Fed Grasses, Flood Water – Abducted Corps Members Reveal
By Kayode Sanni-Arewa
Three, out of the eight corps members from Akwa Ibom State, who were kidnapped in Zamfara State on their way for the mandatory one year national service have recounted their harrowing experiences in their kidnappers’ den.
The victims, before regaining their freedom, stayed between two months and one year in captivity.
Speaking with Daily Post in Akwa Ibom in an interview facilitated by the Founder, Open Forum Care for Humanity Foundation, Matthew Koffi Okono on Thursday, the freed corps members (one female and two males) narrated how they were tortured, fed with grasses and drank flood water.
They thanked governments (Federal and Akwa Ibom State) and the NYSC for interventions and pleaded to be employed in the civil service or have any other rewarding establishments.
The incident happened on August 17, 2023. It was along Gusau road, Zamfara State. You can’t move at speed because of bad spots on the road. They mounted a road block with logs of wood and we thought it was a checkpoint, our driver slowed down waiting for them to remove the blockade.
“Unfortunately, the guys came out, some were wearing kaftans, some put on military camouflage and insignia. They were well armed and they marshalled us out into the bush, including the driver. They carried some of our luggages, stripped us of our belongings, but in the process of taking us into the bush, about three persons escaped.
The place is a forest, it was an open place and there was no shelter, there were only rice sacs which we put on the ground to sleep.
Anytime it rained, we would go under the tree shades for cover until the rains stopped.
All of us, including the kidnappers, stayed there together, they never left us; the only difference is that they held us in captivity and were expecting ransom or money at the end of the day, while we were only expecting our freedom. They are used to that kind of lifestyle while we are not. It was a traumatic experience
There are so many that I don’t know the one that is most traumatic, is it staying in that bush without the sound of anything other than wild animals? I never knew that I would survive it, let alone staying there for several months. We saw snakes, scorpions, even bush dogs. The only thing is that if those bush dogs come, our captors will shoot in the air and they will run and never come back. We’ve killed scorpions, snakes. It was just God that was protecting us there.
How they singled me out and took me to Kaduna
Yes they singled me (Solomon) out and said I’m the most stubborn of us all. This could be because I told them there was no money to pay for my ransom and when they contacted my parents, they also told them that there was no money. They threatened to kill one of us so that we would know that they were serious. I was beaten, tortured and forced to eat grass and drink flood water. Before the grass incident, we stayed for three weeks without food and water. I was later chained and transported from Zamfara to Kaduna on motorcycle through bush tracks.
That was around December, I was very sick; for three months, I couldn’t urinate or defecate, I thought I would die. From the torture and beatings, I had a tear on my head and arms. All these marks on my body (showing off the marks) were from there.
There was nothing like medical care. If you complain, they’ll ask you to sit down. I was just there. I wore the same clothes for the one year I stayed with them and bathed like three times.
Nothing, when I wake up, I’ll just start my own prayer and be sitting down, nowhere to go to, no one to talk to because I was separated from others. Sometimes they asked me to fetch water and I will go with like three armed guards to get it for them.
At some point, I lost hope of coming out alive but I still believed in God. I believed that one day I’ll be released and God did it for me.
As I said I was separated from my colleagues and taken to Kaduna, so on August 22, 2024, about one year and five days, the military came and I was rescued alive. I want to use this opportunity to deeply thank the Army for their gallantry, President Bola Tinubu, Director-General of NYSC, General Yusha’u Dogara Ahmed, Governor Umo Eno, other security operatives, and well-meaning Nigerians for their efforts in securing our freedom
Lady shares experience while in captivity
For me, I stayed there for two months, I gained freedom in October 2023. I never believed that I could survive a day in the forest. As my colleague said, for three weeks, there was nothing like food or water until it rained, we were drinking the flood water. So many of us fell sick. it was horrible, we were kept in a small place and you can’t go anywhere.
The issue is that the people you were facing don’t even understand your dialect or English language, even pidgin. We were trying as much as possible to use sign language to communicate. Also, there’s a way you will behave, they would think you wanted to escape and that would even earn us severe beating. Even as a lady. I wore only one piece of clothing for two months. Even when you are in your period, you are just there, not moving anywhere to clean up. I can’t remember bathing up to three times before I was rescued.
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National Mosque appoints Igbo man as Imam
By Kayode Sanni-Arewa
The Abuja National Mosque has appointed Professor Iliyasu Usman as the first-ever Igbo Muslim Imam of the mosque
According to reports, the new Imam who delivered his inaugural khutbah (sermon) during the Jumm’at prayer today(Friday), has joined the two active Imams, Prof. Ibrahim Makari and Prof. Muhammad Kabir, in leading the Juma’ah and daily congregational prayers on a rotational basis, as the fourth Imam, Sheikh Ahmad Onilewura from Southwest Nigeria, has been on sick leave and absent from leading prayers for an extended period.
His appointment has been widely celebrated by the Muslim community, particularly among the South East Muslim Organisation of Nigeria (SEMON).
In a statement, SEMON who congratulated Prof. Usman described the appointment as a reflection of his dedication to Islamic scholarship and leadership.
The group emphasised that the appointment is not only a significant personal achievement for the new Imam but also a divine responsibility to lead the Muslim community in worship and service to Allah.
The body also highlighted the inclusiveness of the Nigerian Supreme Council for Islamic Affairs (NSCIA) under the leadership of the President-General and Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar.
SEMON expressed hope that Prof. Usman’s appointment would uplift the Igbo Muslim community and promote unity within the broader Nigerian Muslim population.
The statement read, “We the South East Muslim Organisation of Nigeria (SEMON), extend our heartfelt congratulations to Professor Ilyasu Usman on your recent appointment as an Imam of the National Mosque, Abuja.
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