Nigerian Naira (NGN) Exchange Rates on 07th December 2019 (07/12/2019)
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Exchange rates for Nigerian Naira (NGN)
| Updated: 2019-12-07 | |||||||||
| Convert from | Convert to | 1 NGN | Conversion | in currency | Conversion | ||||
 NGN |
 GBP |
0.0021 | NGN to GBP | 476.3303 | GBP to NGN | ||||
| NGN |
 BGN |
0.0049 | NGN to BGN | 205.261 | BGN to NGN | ||||
| NGN |
 HRK |
0.0186 | NGN to HRK | 53.9015 | HRK to NGN | ||||
| NGN |
 CZK |
0.0637 | NGN to CZK | 15.7066 | CZK to NGN | ||||
| NGN |
 DKK |
0.0186 | NGN to DKK | 53.6588 | DKK to NGN | ||||
| NGN |
 EEK |
0 | NGN to EEK | 0 | EEK to NGN | ||||
| NGN |
 HUF |
0.8258 | NGN to HUF | 1.2109 | HUF to NGN | ||||
| NGN |
 KZT |
1.0646 | NGN to KZT | 0.9393 | KZT to NGN | ||||
| NGN |
 LVL |
0.0017 | NGN to LVL | 599.2882 | LVL to NGN | ||||
| NGN |
 LTL |
0.0081 | NGN to LTL | 122.7685 | LTL to NGN | ||||
| NGN |
 MKD |
0.1532 | NGN to MKD | 6.5287 | MKD to NGN | ||||
| NGN |
 MDL |
0.048 | NGN to MDL | 20.8404 | MDL to NGN | ||||
| NGN |
 NOK |
0.0252 | NGN to NOK | 39.677 | NOK to NGN | ||||
| NGN |
 PLN |
0.0107 | NGN to PLN | 93.7561 | PLN to NGN | ||||
| NGN |
 RON |
0.0119 | NGN to RON | 83.8914 | RON to NGN | ||||
| NGN |
 RUB |
0.1756 | NGN to RUB | 5.6932 | RUB to NGN | ||||
| NGN |
 SKK |
0 | NGN to SKK | 0 | SKK to NGN | ||||
| NGN |
 SEK |
0.0262 | NGN to SEK | 38.1781 | SEK to NGN | ||||
| NGN |
 CHF |
0.0027 | NGN to CHF | 365.7638 | CHF to NGN | ||||
| NGN |
 TRY |
0.0159 | NGN to TRY | 62.7538 | TRY to NGN | ||||
| NGN |
 UAH |
0.0654 | NGN to UAH | 15.2846 | UAH to NGN | ||||
Nigerian Naira (NGN)
Sign ₦
1 Nigerian Naira is subdivided into 100 kobo.
Nigeria or the Federal Republic of Nigeria is located in West Africa. Nigeria borders the Republic of Benin, Chad, Cameroon and Niger and lies directly on the Gulf of Guinea in the Atlantic Ocean. Nigeria’s economy is classified as middle income status and the country offers a bounty of natural resources as well as financial, communication, legal and transport sectors. It is currently ranked 37th in terms of GDP in the world and is a large supplier of oil for various countries around the world including the United States.
Coins used:
½, 1, 5, 10, 25, 50 kobo, 1 & 2 naira
Banknotes used:
5, 10, 20, 50, 100, 200, 500 & 1000 naira
Central Bank
Central Bank of Nigeria
http://www.cenbank.org
The Nigerian naira is the official currency of Nigeria. The naira is noted by the ISO sign NGN and is subdivided into 100 kobo. Currency in Nigeria is issued by the Central Bank of Nigeria. The Nigerian Central Bank controls the entire volume of money supplied in order to ensure price stability and monetary stability. Nigeria’s Currency & Branch Operations Department within the Central Bank of Nigeria controls the procurement, reissue, withdrawal and disposal of bank notes and coins and the supply and distribution of all monies in the country.
The naira is issued in denominations of N5, N10, N20, N50, N100, N200 and N500. Nigerian coins are issued in denominations of N1 and kobo 1, 10, 25 and 50. The import of local currency is limited to N20 in banknotes and these must be declared upon arrival to Nigeria. The export of local currency is also limited to N20 in banknotes. Importing foreign currency is unlimited throughout the country but any foreign currency is required to be declared immediately upon arrival to the country. Export is restricted to the amount that is declared. Nigeria has strict penalties for black market currency transactions.
Those visiting Nigeria will need to exchange currency through moneychangers. There are many banks in the country but virtually none of them provide currency exchange. Moneychangers are found readily at a number of locations within the larger cities and are considered to be among the most honest in all of Africa. Many banks and certain retailers also offer Western Union branches for those who need to have money wired to them while visiting the country. ATMs are bountiful but most recommend avoiding their use due to the high level of theft throughout the country. Travelers’ checks are virtually useless in Nigeria as well. Those visiting will find it much easier to find a moneychanger in order to exchange foreign currencies for the naira.
Other References
Wikipedia article on Nigerian Naira
XE.com Live Currency Converter for NGN
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