🇳🇬 Nigerian Naira Converter
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About the Nigerian Naira (NGN)
The Nigerian Naira (NGN, ₦) is the official currency of Nigeria, issued by the Central Bank of Nigeria (CBN). Nigeria is Africa's largest economy, making the Naira one of the most traded African currencies.
The Naira has two markets — the official CBN rate and the parallel (black) market rate. Our converter uses the latest interbank exchange rates updated throughout the day.
How to Send Money to Nigeria
Popular services for sending money to Nigeria include Wise (formerly TransferWise), Remitly, WorldRemit, and Western Union. Always compare rates before sending as fees vary significantly between providers.
Why Does the Naira Rate Change?
The Naira exchange rate fluctuates based on Nigeria's oil revenues, CBN monetary policy, inflation rates, foreign investment flows, and global dollar strength. Since the CBN floated the Naira in 2023, rates have been more volatile but also more reflective of market conditions.