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Foreign Exchange Guide to Nigeria

This currency guide to Nigeria helps you choose the best way to save money on NGN transfers and travel money.    [USD/NGN=362.1]

 
Nigeria
Country Code:
NG
Domestic Currency:
Nigerian Naira
Symbol - Code:
₦ NGN
Telephone Prefix:
+234

This is a foreign exchange guide to Nigeria, the Nigerian Naira currency plus sending NGN transfers and travel tips.


In this Nigeria currency guide we take a look at :

  1. Nigerian Naira info - general info about the Nigerian Naira
  2. Nigerian Naira in the markets - recent NGN moves and predictions from the FX markets
  3. Travelling in Nigeria - currency & money saving tips
  4. Buying Nigerian Naira cash online - travel money for Nigeria
  5. Sending money to Nigeria - save on Nigerian Naira bank transfers to Nigeria
  6. Nigerian Naira exchange rates - latest & historic exchange rates.

Nigerian Naira (NGN) general currency information


What is the Nigerian Naira currency code and symbol?

The three letter currency code for the Nigerian Naira is NGN and the symbol is .


Is the Nigerian Naira a closed currency?

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?


Which countries use the Nigerian Naira?

It is the domestic currency in Nigeria.


Nigerian Naira (NGN) in the markets

The interactive chart below shows the USD to NGN exchange rate and trend for the previous 3 months:

At 362.03 USD/NGN was trading near its 90 day average with period range 352.89 to 363.83. There are currently no alerts. Updated: 08:15-AEDT 22:15-BST 17:15-EDT

Travel, Currency and Money saving tips for Nigeria

 

Travel money for Nigeria

 

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.

   

Nigeria Trip Checklist    

 
  1. Search Hotel deals - Save on your accomodation in Nigeria
  2. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Nigeria

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).


Get a better deal for foreign transfers to Nigeria

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 :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Nigerian Naira amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted NGN amount will be transfered to the recipient account you specify in Nigeria.

Use our Send to NGN 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!

   

Bank Transfers to Nigeria

Compare Transfer Rates

 

NGN/USD - Nigerian Naira to United States Dollar - Historical Rates

PeriodNGN/USDDate
1 Day0.00276621 Oct 2019
7 Day0.00276115 Oct 2019
30 Day0.00277422 Sep 2019
3 Month0.00277124 Jul 2019
1 Year0.00275122 Oct 2018
5 Year0.00604723 Oct 2014
10 Year0.00665324 Oct 2009

NGN/EUR - Nigerian Naira to Euro - Historical Rates

PeriodNGN/EURDate
1 Day0.00248121 Oct 2019
7 Day0.00250215 Oct 2019
30 Day0.00251722 Sep 2019
3 Month0.00248724 Jul 2019
1 Year0.00239922 Oct 2018
5 Year0.00478023 Oct 2014
10 Year0.00443224 Oct 2009

NGN/GBP - Nigerian Naira to British Pound Sterling - 10 Year History

PeriodNGN/GBPDate
1 Day0.00213321 Oct 2019
7 Day0.00216315 Oct 2019
30 Day0.00222522 Sep 2019
3 Month0.00221924 Jul 2019
1 Year0.00212222 Oct 2018
5 Year0.00377123 Oct 2014
10 Year0.00407124 Oct 2009

NGN/AUD - Nigerian Naira to Australian Dollar - Historical Rates

PeriodNGN/AUDDate
1 Day0.00402621 Oct 2019
7 Day0.00408815 Oct 2019
30 Day0.00409822 Sep 2019
3 Month0.00397124 Jul 2019
1 Year0.00388922 Oct 2018
5 Year0.00690123 Oct 2014
10 Year0.00719924 Oct 2009

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