GBP/NGN
British Pound to Naira Black Market Rate Today
Live British Pound to Nigerian Naira exchange rate. Black market BDC rate cross-rated from USD and official rate from the Central Bank of Nigeria.
Price history
Parallel market sell rate · daily close
GBP/NGN Rate: Last 30 Days
British Pound to Naira black market rate: key facts
As of 4 May, 9:38 pm WAT, BDC operators are buying GBP at ₦1,871.14 and selling at ₦1,886.13. The spread (the difference between buy and sell) is ₦14.99 per GBP. The official CBN rate for GBP/NGN is ₦1,868.64.
Pound to naira for UK-based Nigerians
The UK hosts the largest Nigerian diaspora outside Africa. Remittances from Birmingham, London, and Manchester are a major source of pound demand in Nigeria. When you send pounds home, Nigerian recipients typically receive naira at or near the BDC buy rate shown here. Transfer services that advertise a mid-market rate apply fees that bring the effective rate down. Compare the naira amount you actually receive, not the headline rate.
How the GBP/NGN rate is set
Nigeria's parallel FX market prices everything in US dollars. To get the pound-to-naira rate, BDC operators take their USD/NGN quote and apply the live GBP/USD global rate. This means pound-to-naira moves whenever either the dollar/naira rate shifts or the pound/dollar rate shifts on international markets.
Official CBN rate vs black market rate for GBP
The CBN publishes an official rate for GBP/NGN through the NAFEM window for regulated transactions. The black market rate is typically higher because official supply cannot meet demand. Today the gap between the two is approximately ₦17 per GBP.
