Foreign exchange guide to Nigeria and the Nigerian Naira (NGN)
The below interactive chart shows the USD to NGN exchange rate, trend and recent alerts for the last 90 days.
|U$ 1||₦ 387.50|
|U$ 5||₦ 1,938|
|U$ 10||₦ 3,875|
|U$ 20||₦ 7,750|
|U$ 50||₦ 19,375|
|U$ 100||₦ 38,750|
|U$ 250||₦ 96,875|
|U$ 500||₦ 193,750|
|U$ 1,000||₦ 387,500|
|U$ 2,000||₦ 775,000|
|U$ 5,000||₦ 1,937,500|
|U$ 10,000||₦ 3,875,000|
|U$ 50,000||₦ 19,375,000|
|U$ 100,000||₦ 38,750,000|
The domestic currency in Nigeria is the Nigerian Naira.
The three letter currency code for the Nigerian Naira is NGN — symbol is ₦.
It is the domestic currency in   Nigeria.
Yes the Nigerian Naira is a closed currency. Which means that you may find it difficult to purchase the currency (NGN) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.
For more information and a full list of closed currencies please refer to our guide: What is a closed currency?
As mentioned above, the Nigerian Naira is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (NGN) before departure and will need to buy it upon arrival in Nigeria.
For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the NGN you will incur currency conversion or foreign transaction fees if you use a travel money card in Nigeria.
However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.
When searching around for information on how to get a good exchange rate when sending money to Nigeria you need to start with finding out the latest Nigerian Naira foreign-transfer exchange rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).
When sending money to Nigeria it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use our Send to Nigerian Naira calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Nigerian Naira deposited into the recipient bank account and less margins and fees kept by the banks!