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

By Francesca Hangeior

The European Union (EU) has commenced a series of strategic events to mark its Climate Month ahead of COP29 taking place in in Baku, Azerbaijan, next month.

The organisation said the events are part of efforts to foster sustainability through climate action.

The EU Climate Month, with the theme “Opportunities for Growing Green Together,” features a series of impactful events aimed at highlighting the importance of collaboration between the EU, Nigeria, and other key stakeholders in promoting sustainable development.

Head of Cooperation, EU Delegation to Nigeria and ECOWAS Massimo De Luca said these events, organised within the framework of the EU’s Global Gateway Strategy, showcase how the EU is creating opportunities for innovation, green growth, and shared climate responsibility.

Senior representatives of European investors and Nigerian public and private entities already active or about to enter the green bond market recently gathered in Abuja to deepen understanding of opportunities in the Nigerian Market, ahead of the imminent launch of the EU Global Green Bonds Initiative, anticipated to spur green investments totalling up to €15-20 billion.

De Luca said: “EU Climate Month reflects our deep commitment to driving sustainable solutions in partnership with Nigeria.

“Each event is an opportunity not only to share knowledge and best practices but also to inspire innovation in tackling climate challenges. Our goal is to foster lasting, impactful change through collaboration, empowering both Nigeria and the EU to grow green together.

“This initiative is part of the EU’s Global Gateway Strategy, which focuses on investing in sustainable infrastructure globally. Through these efforts, we aim to support green growth, particularly in key sectors like energy, climate-smart agriculture, and digitalisation, contributing to Nigeria’s sustainable development goals.”

De Luca added: “In this context, the EU-Nigeria Climate and Energy Dialogue revolved around Nigeria’s Nationally Determined Contributions (NDCs), Energy Transition and access, carbon pricing, monitoring and reporting of emissions, and the upcoming 29th Conference of the Parties (COP29).

“The recently launched Nigeria Methane Emissions Reduction Programme will focus on building the capacity of stakeholders for measuring and monitoring emissions from the oil & gas sector, agriculture and waste. This October, it will bring together the stakeholders of the oil and gas sector, including international oil companies (IOCs), indigenous oil companies, the Nigerian National Petroleum Corporation (NNPC), and others, to reduce methane emissions. Methane contributes to ozone layer depletion, negatively impacts climate change, and poses health risks to communities.

“The training of Nigeria’s climate negotiators for COP29 aims to enhance the knowledge and negotiation skills of climate leaders and advocates.

“The Nigeria Energy Support Programme (NESP) III event will mark the launch of the third phase of this flagship project providing 360 degrees support to the renewable energy and energy efficiency sector in Nigeria. It will be held together with the latest novel initiative brought to Nigeria by the EU, Get.Invest, which will develop the renewable energy investment pipeline.

“The support for sustainable aviation fuel programme will focus on decarbonising the aviation sector by promoting the use of sustainable fuels, such as biofuels (plant-based), instead of conventional crude oil-derived fuels. This event is part of a bigger EU multi-country intervention, for which Nigeria was prioritised.

“The Global Gateway is an EU strategy to invest in sustainable infrastructure projects worldwide. In Nigeria, the initiative is focusing on sectors such as energy, transport, digitalisation, agriculture/climate smart value chains, as well as health and education.”