1 NGN to USD - Naira to US Dollars Black Market Rate
Rates updated
Naira to USD (Dollars) Rate with Currency Converter
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Naira to US Dollar Compared to Other Currencies
| Conversion | Black Market Rate in USD |
|---|---|
| Naira to US Dollar | |
| Naira to Australian Dollar | |
| Naira to Pound | |
| Naira to Euro | |
| Naira to Canadian Dollar | |
| Naira to Rand | |
| Naira to Dirham | |
| Naira to Yuan | |
| Naira to Cedi | |
| Naira to XOF | |
| Naira to XAF |
Naira to Dollar Currency Conversion Table
| Amount in Naira | Black Market Rate in Dollar ($) |
|---|---|
| 1 Naira to USD | 0.001 |
| 5 Naira to USD | 0.004 |
| 10 Naira to USD | 0.007 |
| 20 Naira to USD | 0.014 |
| 50 Naira to USD | 0.036 |
| 100 Naira to USD | 0.072 |
| 200 Naira to USD | 0.144 |
| 300 Naira to USD | 0.217 |
| 400 Naira to USD | 0.289 |
| 500 Naira to USD | 0.361 |
| 600 Naira to USD | 0.433 |
| 800 Naira to USD | 0.578 |
| 1000 Naira to USD | 0.722 |
| 5000 Naira to USD | 3.610 |
| 10000 Naira to USD | 7.220 |
Popular Conversions
Does Aboki Forex Trade (Exchange) Currencies?
No, we do not trade any currency pair. Aboki Forex is purely an information platform that provides real-time black market and official CBN exchange rates. To exchange currency, contact a licensed Bureau de Change (BDC), your bank, or a trusted local forex dealer.
Is AbokiFx the same as Aboki Forex?
No, Aboki Forex (abokiforex.app) and AbokiFx are two separate and unaffiliated platforms. We are not connected to AbokiFx in any way. Aboki Forex provides live black market and CBN exchange rates for all major currencies versus the Nigerian Naira.
How can I Exchange Currency in Nigeria?
To exchange foreign currency in Nigeria, you have several options: (1) Visit a licensed Bureau de Change (BDC) — these are regulated by the CBN and found in major cities. (2) Use your commercial bank — they offer official CBN rates for account holders. (3) Use a trusted local forex market dealer — these operate in parallel/black market and typically offer higher rates than banks. Always verify the current rate on Aboki Forex before exchanging to ensure you get a fair deal.
Are the Black Market Rates accurate in all Markets?
Aboki Forex provides average black market rates collected from multiple dealers across major Nigerian cities including Lagos, Abuja, Kano, and Port Harcourt. Because the parallel market is unregulated, actual rates vary by location, dealer, and transaction size. The rates on Aboki Forex are a reliable benchmark, but always confirm the exact rate with your dealer before completing any transaction.
What is the difference between CBN, I&E and Black Market Rates?
The CBN (Central Bank of Nigeria) rate is the official government exchange rate used by commercial banks and regulated financial institutions. The I&E (Investors and Exporters) window was a market-based rate that has now been merged with the official CBN rate following Nigeria's forex unification policy. The Black Market rate (also called the parallel market or street rate) is typically higher than the official rate and reflects actual supply and demand dynamics for foreign currency in Nigeria outside the regulated banking system.
How often are the exchange rates updated on Aboki Forex?
Black market exchange rates on Aboki Forex are updated every hour throughout the trading day. The rates reflect real-time data collected from parallel market dealers across Nigeria. CBN official rates are updated daily, typically after the Central Bank of Nigeria publishes its official rates each business day.
What is the best way to send money from the USA to Nigeria?
The best way to send money from the USA to Nigeria depends on the amount: Sendwave charges zero fees for everyday transfers, Wise gives the best exchange rate on larger amounts, and USDT P2P delivers naira closest to the black market rate. Note that Zelle, Cash App, and Venmo cannot send money to Nigeria. See our full guide on how to send money from the USA to Nigeria, and check the live dollar to naira black market rate before you send.
Why is the black market dollar to naira rate higher than the official CBN rate?
The black market dollar to naira rate is higher than the official CBN rate because of the gap between foreign currency supply and demand in Nigeria. The Central Bank of Nigeria controls access to dollars at the official rate, limiting who can buy forex through official channels. Businesses and individuals who cannot access dollars through banks must turn to the parallel market, where higher demand relative to supply drives up the exchange rate.