EUR to NGN Exchange Rate Today
Euro to Nigerian Naira conversion for Europe's 400,000+ Nigerian community. Track live EUR/NGN rates for remittances to Lagos, Abuja, PH.
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Sending 1,000.00 EUR → NGN
Mid-Market Rate
After Fees
Exchange rate: Real-time mid-market rate from OpenExchangeRates API. Transfer fees: Based on typical provider fees.Note: Providers may offer different exchange rates than the mid-market rate shown. Always check the provider's website for their actual exchange rate and final pricing before sending.
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Frequently Asked Questions
What is the Euro to Nigerian Naira exchange rate?
EUR to NGN conversion rates have oscillated wildly between ₦1,500-2,200+ per euro, reflecting Nigeria's ongoing forex crisis and naira instability. Europe's 400,000+ Nigerian community—primarily in Italy, Germany, France, and Spain—represents a major European-African remittance flow. The CBN's multiple exchange rate tiers (official, I&E window, bureau de change, parallel market) create significant price discovery challenges. European Nigerian workers in services, healthcare, and education must track rates hourly during volatile periods. Mid-market rates refresh every 30 minutes through OpenExchangeRates integration.
How can Nigerians in Europe send money to Nigeria?
European Nigerians access multiple remittance channels: Remitly and WorldRemit (both popular in Italy/Spain for bank deposits), SendWave (minimal fees, direct transfers), Western Union/MoneyGram (broad agent coverage in Nigerian cities); European-based Nigeria specialists; or SEPA bank transfers. Rome, Milan, Berlin, Frankfurt, Paris, and Barcelona communities should verify total NGN received—given naira's instability, provider spreads can vary 3-5%. Digital platforms offer instant rate transparency, crucial when parallel market premiums shift daily.
Why is the naira so weak against the euro?
The EUR-NGN ratio (₦1,700-2,200 per euro) exposes Nigeria's structural vulnerabilities: over-reliance on oil revenues, the CBN's multiple exchange rate tiers causing market distortions, and inflation consistently outpacing wage growth at 15-25%. The euro's role as a major reserve currency amplifies naira weakness. Europe's 400K+ Nigerian workers (concentrated in Italy, Spain, Germany services sectors) remitting €5B annually see their euros buy more naira—helpful for family support but reflecting Lagos's forex crisis and economic instability.
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?
Berlin Nigerians sending €500 monthly maximize value when euro exceeds ₦2,000, gaining ₦1M versus ₦900K at ₦1,800. Nigerian diaspora in Europe (400,000+ in Italy, Germany, France) remits €5B annually to Lagos, Abuja, Port Harcourt families. Naira volatility (2023 crashed to ₦2,200) creates opportunities. Locking ₦2,000 rates versus ₦1,800 generates ₦100K monthly on €500 flows—important for Rome or Paris Nigerian workers financing family support, Lagos real estate, or business ventures during CBN policy turbulence and oil price fluctuations.