As of 31 January 2025, the exchange rates for the Nigerian Naira (NGN) against major currencies are as follows:
Official Rates:
- US Dollar (USD): 1 USD = 1,518.07 NGN
- British Pound Sterling (GBP): 1 GBP = 1,884.50 NGN
- Euro (EUR): 1 EUR = 1,650.00 NGN
Parallel Market Rates:
- US Dollar (USD): 1 USD = 1,640.00 NGN
- British Pound Sterling (GBP): 1 GBP = 2,040.00 NGN
- Euro (EUR): 1 EUR = 1,680.00 NGN
These rates are sourced from reputable financial platforms and reflect the current market conditions. It’s important to note that exchange rates can fluctuate throughout the day due to various economic factors.
For the most accurate and up-to-date rates, individuals and businesses are advised to consult the Central Bank of Nigeria (CBN) or authorised financial institutions before making currency conversions or international transactions. The CBN provides official exchange rates and comprehensive data on currency movements.
Staying informed about these rates is crucial for financial planning, especially for those involved in international trade, travel, or remittances. Regularly monitoring official sources ensures that you have the most reliable information for your financial decisions.