How to convert Naira to Dollar (and other currencies)
Pick the foreign currency you want to convert to or from (USD, GBP, EUR, GHS and 7 others), enter an amount, and the calculator instantly gives you the value at both the CBN official rate and the parallel market (aboki) rate. The difference between these two figures shows you the parallel premium, what you'd pay extra by buying at a Bureau de Change instead of through your bank's official channel. For amounts above $5,000 most Nigerian banks will quote you their own retail rate which falls between the two.
CBN official vs parallel, which should you use?
The CBN official rate applies when banks process letters of credit, large import payments, or when you wire money through traditional banking channels. For everyday personal transactions, buying dollars for travel, paying tuition abroad, settling small online purchases, the rate you'll actually get from a BDC sits closer to the parallel rate. Since the 2023 unification of Nigeria's foreign exchange windows, the spread has narrowed from over ₦300 to typically under ₦10 today.
Which currencies can I convert?
This calculator supports 11 currencies frequently quoted against the naira: USD (US Dollar), GBP (British Pound), EUR (Euro), CAD (Canadian Dollar), CNY (Chinese Yuan), GHS (Ghanaian Cedi), ZAR (South African Rand), AED (UAE Dirham), XOF and XAF (West and Central African CFA), and AUD (Australian Dollar).
How often do rates update?
CBN rates refresh daily on business days, usually mid-morning Nigerian time, sourced from cbn.gov.ng. Parallel market rates from AbokiForex refresh multiple times per day as BDC operators across Lagos, Abuja and Kano adjust their quotes. Both rates are indicative, confirm with your bank or BDC before sending large amounts.