The live mid-rate GBP to NGN exchange rate is 2,123.7. Compare currency conversion rates - Reduce FX costs.
The best GBP to NGN exchange rate is 2108.84 from Wise.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare British pound (GBP) to Nigerian naira (NGN) rates from different sources before making a conversion.
Looking at our comparison table the best GBP to NGN exchange rate is 2108.84 from Wise. The next best rate is 2106.71 from Currencies Direct. Then Western Union with 2091.85.
Among the banks, the Lloyds Bank rate is -78.7247, the Royal Bank of Scotland rate is -65.9825, and the Barclays Bank rate is 2049.37 compared to the mid-rate 2,123.7.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
The Sterling to Naira comparison table above makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest GBP-NGN mid-rate (see Market Data below ) and the possible savings of using various providers.
British pound (GBP) to Nigerian naira (NGN) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | GBP/NGN | Change | Period |
|---|---|---|---|
01 Apr 2025 | 1985.07 | 6.7% ▲ | 2 Week |
15 Jan 2025 | 1904.31 | 11.2% ▲ | 3 Month |
15 Apr 2024 | 1495.00 | 41.6% ▲ | 1 Year |
16 Apr 2020 | 482.65 | 338.8% ▲ | 5 Year |
18 Apr 2015 | 297.57 | 611.6% ▲ | 10 Year |
20 Apr 2005 | 254.11 | 733.4% ▲ | 20 Year |
Here are some popular conversion amounts for GBP to NGN (British pound to Nigerian naira)*.
*Converted at the current GBPNGN interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The GBP to NGN exchange rate has recently shown increased volatility, influenced by several domestic and global factors. The British pound has come under pressure following the announcement of a 10% tariff on UK imports by U.S. President Donald Trump, which has raised concerns over the UK’s economic outlook. Analysts note that this development adds to the existing challenges stemming from rising UK government borrowing costs, with 30-year bond yields recently climbing to their highest levels since 1998. This spike in yields could hinder the government’s ability to foster economic growth while adhering to fiscal constraints.
Read our full review of recent GBP to NGN forecasts.
There are several ways to save on exchange rates when converting British pound to Nigerian naira:
Generally speaking, if you are buying Nigerian naira with British pound, then it's better for the GBP/NGN exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
Read our Currency guide to Nigeria — a practical currency and money guide to travel in Nigeria plus living and doing business with the Nigerian naira.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add GBP/NGN to your personalised Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
| United Kingdom (GBP) | Nigeria (NGN) |
There is no definitive answer to this question since it can vary greatly depending on the individual's lifestyle and location within Nigeria. However, according to Numbeo's Cost of Living Index for 2018, Lagos, Nigeria's largest city, ranks as the 95th most expensive city in the world out of a total of 679 cities.
The expat life in Nigeria is generally good. There are many things to do and see, and the people are generally friendly and welcoming. However, there are some challenges, such as the high crime rate and the lack of infrastructure.
Read more at our Nigeria (NGN) country guide
News2025-03-27
Recent U.S. trade policies, including aggressive tariffs on auto imports, have introduced significant volatility in global currency markets, affecting major currencies such as the euro, British pound, and Japanese yen.
Further reading on the Nigerian naira (NGN) - Guides, Reviews & News from our research team.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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