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US Dollar to Nigerian Naira Exchange Rate
Mid-market USD/NGN rate — the fairest rate, before provider markups.
1371.79NGN
1 USD = 1371.79 NGN
1 NGN = 0.00073 USD
Source: median of multiple independent feeds. For indicative purposes only.
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USD to NGN Conversion Table
100 USD
137,178.56 NGN
500 USD
685,892.8 NGN
1,000 USD
1,371,785.59 NGN
5,000 USD
6,858,927.96 NGN
10,000 USD
13,717,855.92 NGN
25,000 USD
34,294,639.81 NGN
50,000 USD
68,589,279.62 NGN
100,000 USD
137,178,559.25 NGN
Based on mid-market rate. Actual provider rates will differ — compare below.
Compare USD to NGN Transfer Rates
What you'd actually receive sending 1,000 USD via each provider today.
1,369,727.91
NGN received
Paysend
Rate 1368.6305 · 1.99 USD fee · 2 days
1,365,906.91
NGN received
MoneyGram
Rate 1365.7497 · No fee · 0-1 days
1,365,749.74
NGN received
Wise
Rate 1374.1176 · 7.78 USD fee · Instant
1,363,426.99
NGN received
Sendwave
Rate 1361.6344 · No fee · Instant
1,361,634.38
NGN received
Remitly
Rate 1361.4972 · No fee · Minutes to 3-5 days
1,361,497.2
NGN received
WorldRemit
Rate 1361.6344 · 0.99 USD fee · 0-3 days
1,360,286.36
NGN received
Ria Money Transfer
Rate 1365.7497 · 4.40 USD fee · Instant
1,359,740.44
NGN received
| Provider | Rate | Fee | You Receive | Speed |
|---|---|---|---|---|
| InstaReMBest rate | 1369.7279 | Free | 1,369,727.91 NGN | 1-3 business days |
| Paysend | 1368.6305 | 1.99 USD | 1,365,906.91 NGN | 2 days |
| MoneyGram | 1365.7497 | Free | 1,365,749.74 NGN | 0-1 days |
| Wise | 1374.1176 | 7.78 USD | 1,363,426.99 NGN | Instant |
| Sendwave | 1361.6344 | Free | 1,361,634.38 NGN | Instant |
| Remitly | 1361.4972 | Free | 1,361,497.2 NGN | Minutes to 3-5 days |
| WorldRemit | 1361.6344 | 0.99 USD | 1,360,286.36 NGN | 0-3 days |
| Ria Money Transfer | 1365.7497 | 4.40 USD | 1,359,740.44 NGN | Instant |
Understanding the USD/NGN Exchange Rate
Nigeria's naira has undergone dramatic reforms since mid-2023, when the Central Bank of Nigeria (CBN) unified its multiple exchange rate windows. The USD/NGN rate is now more market-determined, though it remains volatile. Nigeria receives over $20 billion in annual remittances, primarily from the US, UK, and Gulf states.
Key things to know
- The NGN rate can move 5–10% in a single week — check the mid-market rate before every transfer
- Bank deposits to GTBank, Access Bank, and Zenith Bank are the most common delivery method
- Mobile money (via providers like OPay and PalmPay) is growing rapidly as an alternative to bank deposits
- Some providers lock the rate at the time of initiation; others at the time of payout — a critical difference on this volatile corridor
Tip
On a volatile corridor like USD to NGN, rate lock timing matters enormously. Ask whether the provider locks the rate when you initiate or when they process — on a bad day, that gap could cost you 3–5%.
USD/NGN Rate History
Track how provider rates have changed over time. See which providers consistently offer the best USD to NGN rates.
How we calculate the USD/NGN mid-market rate
The mid-market rate is the midpoint between the buy and sell prices on global currency markets — it's the fairest exchange rate available. We aggregate data from 4 independent sources and take the median value, which eliminates outliers and provides a more reliable rate than any single source.
When a money transfer provider quotes you a rate, compare it against the mid-market rate shown on this page. The difference is the provider's markup — their profit on the currency conversion. On the USD/NGN pair, the best providers typically mark up by 0.3–1.5%, while banks can mark up by 2–5%.
Related Exchange Rates
Frequently asked questions about USD to NGN
What is the mid-market USD/NGN exchange rate today?
The mid-market rate for USD to NGN today is 1371.79, meaning 1 US Dollar buys 1371.79 Nigerian Naira. The inverse rate is 1 NGN = 0.00073 USD. This is the interbank reference rate — money transfer providers apply a markup above this, so the rate you receive will be slightly lower.
What moves the USD/NGN exchange rate?
The NGN rate can move 5–10% in a single week — check the mid-market rate before every transfer. Bank deposits to GTBank, Access Bank, and Zenith Bank are the most common delivery method. Nigeria's naira has undergone dramatic reforms since mid-2023, when the Central Bank of Nigeria (CBN) unified its multiple exchange rate windows.
Which provider offers the best US Dollar to Nigerian Naira rate?
Based on today's quotes, InstaReM is offering the best USD to NGN rate — sending 1,000 USD gives your recipient 1,369,727.91 NGN. Rankings shift daily, so compare the full table above before every transfer. On a volatile corridor like USD to NGN, rate lock timing matters enormously. Ask whether the provider locks the rate when you initiate or when they process — on a bad day, that gap could cost you 3–5%.
How much does it cost to convert US Dollar to Nigerian Naira?
The total cost of a USD to NGN transfer has two parts: the exchange rate markup (the gap between the mid-market rate and the provider's rate) and any flat fee. The best specialist providers on this corridor typically charge a markup of 0.3–1.5% plus a small flat fee, while banks can add 2–5% in markup. The table above shows you exactly how much NGN your recipient would receive from each provider on a 1,000 USD transfer.