EUR to NGN Exchange Rate Today
Euro to Nigerian Naira conversion for Europe's 400,000+ Nigerian diaspora. Track live EUR/NGN rates every 30 minutes for remittances from Italy, Germany, France, Spain to Lagos, Abuja, Port Harcourt—navigating Nigeria's evolving forex landscape.
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Frequently Asked Questions
What is the Euro to Nigerian Naira exchange rate?
The EUR to NGN rate has been highly volatile, ranging from 600-2,200+ NGN per 1 EUR due to Nigeria's complex exchange rate system and naira weakness. Europe has a substantial Nigerian diaspora (400,000+), particularly in Italy, Germany, France, and Spain, making EUR/NGN an important European remittance corridor. Nigeria operates both official and parallel (black market) rates, with CBN implementing various reforms. Our converter shows current mid-market rates updated every 30 minutes.
How can Nigerians in Europe send money to Nigeria?
European Nigerians have several options: Remitly (popular for Nigeria, bank/cash pickup), WorldRemit, SendWave (low fees, good for Nigeria), Western Union or MoneyGram (extensive agent network); European-Nigeria specialized corridors; or bank transfers. For communities in Rome, Milan, Berlin, Frankfurt, Paris, Barcelona sending to Lagos, Abuja, Port Harcourt, compare rates carefully—naira volatility means 3-5% differences are common. Many European Nigerians use rate comparison apps before sending.
Why is the naira so weak against the euro?
NGN weakness (1 EUR ≈ 1,700-2,200 NGN) stems from: Nigeria's oil-dependent economy, CBN policy changes and multiple exchange rate windows, forex scarcity creating parallel market premiums, high inflation (15-25%+), and structural challenges. The euro's strength as a major reserve currency amplifies the gap. For the 400K+ European Nigerian community (students, professionals, workers), the climbing EUR/NGN rate means more naira per euro—beneficial for remittances but reflecting Nigeria's economic difficulties.
Do European banks offer good naira exchange rates?
No. European banks rarely handle NGN directly and charge €20-40 transfer fees plus 4-6% poor exchange spreads. German banks (Deutsche Bank, Commerzbank), Italian banks (Intesa Sanpaolo, UniCredit), French banks (BNP Paribas), and Spanish banks (BBVA, Santander) all offer terrible rates. Dedicated Nigeria remittance services are far superior: Remitly charges 2-4%, SendWave ~1-2%, WorldRemit 3-5%—all with much better rates and faster delivery to Nigerian accounts.
When should I send euros to Nigeria for best rate?
Given naira volatility, timing can yield significantly more naira. Watch: CBN policy announcements, oil price movements, official vs parallel rate convergence, and Nigeria's inflation reports. For monthly family support, consistent transfers average out volatility. For large transfers (land in Lagos/Abuja, building projects, medical expenses), send when EUR/NGN is elevated (naira weak). Many European Nigerians use rate alerts to catch favorable moments—differences can be substantial given naira's extreme swings.