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Naira Currency Converter

Convert between Naira and major currencies at live rates. Essential for sourcing from international suppliers and pricing imported goods.

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Nigerian Naira (NGN)
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Quick amounts:
Sourcing tip: Add 15-25% to the converted price to account for shipping, customs duty, and handling when pricing imported goods for Nigerian buyers.

Understanding the Naira Exchange Rate for Sellers

The Naira exchange rate affects every Nigerian seller who sources from international suppliers -- whether you buy from China, UAE, UK, or US markets. The CBN official rate and parallel market rate can differ significantly; always confirm which rate your supplier or bank is using.

For pricing imported products, use the actual landed cost (product + shipping + customs) not just the product cost converted at today's rate. A $10 product from China typically lands at ₦35,000-₦55,000 all-in, depending on shipping speed and customs classification.

What exchange rate should I use for my product pricing?
Use the rate you actually pay at your bank or agent, not the CBN official rate. If you use a fintech app like Chipper or Grey to pay suppliers, use their actual transaction rate.
How do I calculate customs duty on imported goods?
Nigerian customs charges duty as a percentage of CIF value (Cost + Insurance + Freight), converted to Naira at CBN rate. Fashion is typically 20-35%, electronics 5-20%, food 5-25%. Add 7.5% VAT on top.
Which currencies are most important for Nigerian sellers?
USD for Chinese and US suppliers, CNY for Alibaba/1688 direct, AED for Dubai wholesale markets, GBP for UK fashion suppliers, EUR for European goods.
Why do rates shown here differ from what I pay?
Exchange rates change by the minute. This tool fetches live rates from a public API for guidance. Your actual transaction rate may vary based on your bank, fintech platform, and timing.
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