Getting Nigerian Naira for Your Trip
Nigeria, Africa's largest economy, operates primarily on cash. Understanding Nigeria's currency situation is essential - the Naira has experienced significant volatility, and the Central Bank of Nigeria (CBN) unified its exchange rates in October 2023. In August 2026 the CBN governor said the gap between Bureau de Change (BDC) and official rates had fallen below 2 per cent.
For visitors, this means the old premium for changing cash at a BDC has largely gone, so compare on the day and choose what is safest. Planning ahead is crucial - Nigeria's banking infrastructure can be challenging. Nigeria no longer issues visas on arrival: apply and pay through the Nigeria Immigration Service e-Visa portal before you fly, and complete the landing and departure cards online as well.
Best Ways to Get Nigerian Naira
Options for obtaining Naira
Note: Since the October 2023 unification, bureau and official rates sit close together (under 2 per cent apart in August 2026). Rates move daily, so compare before you change.
Compare Exchange Rates →Understanding Nigeria's Exchange Rates
Nigeria has a complex currency situation:
- Official rate (CBN): Used by banks, ATMs and international card transactions. Since October 2023 there has been a single official market rather than separate windows
- Bureau de change rate (BDC): The rate at CBN-licensed bureaux, now within about 2 per cent of the official rate according to the CBN governor (August 2026). Only 82 bureaux held final licences from 27 November 2025
- Practical impact: The large saving that once came from changing cash instead of using a card has largely disappeared
Cash still matters in Nigeria, so some pounds or dollars to change at a licensed bureau are useful, but expect a rate close to the official one. Under CBN rules a bureau may pay out notes only up to the equivalent of USD 500; larger sums must go to a naira bank account, and non-residents can be given a prepaid naira card instead.
Using Cards in Nigeria
Card acceptance is limited in Nigeria:
Where cards may work: International hotels (Hilton, Sheraton), large shopping malls in Lagos (The Palms, Ikeja City Mall), some upmarket restaurants, airlines, and major supermarkets like Shoprite.
Where you'll need cash: Most restaurants, local shops, markets, taxis, smaller hotels, and essentially anywhere outside major commercial centres. Even some businesses that have POS terminals may decline foreign cards.
Important: Don't rely on cards as your primary payment method in Nigeria. Always have sufficient Naira cash on hand.
Withdrawing Cash from ATMs
Nigerian ATMs can be frustrating but are sometimes necessary:
- Best banks: GTBank, Zenith Bank, Access Bank, and First Bank have the most reliable ATMs
- Common issues: ATMs frequently run out of cash, have technical problems, or reject foreign cards. Visit during banking hours when staff can help
- Fees: Check any charge shown on screen before you accept; your home bank may add its own fee
Always have a backup plan - don't assume ATMs will work when you need them.
Exchanging Cash in Nigeria
For the best rates, exchange foreign currency at Bureau de Change (BDC) offices:
- Licensed BDCs: Look for CBN-licensed bureaux in Lagos (Victoria Island, Ikoyi, Lekki) and Abuja (Wuse, Garki). They must display their buying and selling rates and give you an electronic receipt
- Currency preference: USD is most widely exchanged, followed by GBP and EUR. Bring clean, unmarked bills from 2006 or later
- Rates vary: Shop around - rates can differ by 2-5% between BDCs. Larger amounts may get better rates
- Avoid: Airport exchanges (poor rates), hotel desks, and unofficial street changers (risky and illegal)
Safety: BDC transactions often involve large amounts of cash. Use reputable offices, visit during business hours, and consider having someone accompany you.
Best Exchange Options for NGN
Top providers by category:
GTBank
Guaranty Trust Bank. Modern ATMs, good rates.
Zenith Bank
Major bank with wide coverage.
Access Bank
Good ATM network in cities.
Lagos Airport
Poor rates. Use a CBN-licensed bureau in the city.
Street Changers
Unlicensed and risky, with little to gain now rates are close. Use a licensed bureau.
Compare NGN Exchange Rates
See what you'd receive from providers local to you
Frequently Asked Questions
Compare on the day and choose the safest. Changing pounds or dollars at a CBN-licensed Bureau de Change is useful because Nigeria runs on cash, but the rate you get will sit near the official one: the CBN governor put the gap below 2 per cent in August 2026. ATMs at GTBank, Zenith or Access Bank are the other route, with your card charged at the official rate.
Yes: Nigeria runs mainly on cash and cards should not be your primary way to pay. US dollars are the most widely exchanged, then pounds and euros; bring clean, unmarked notes dated 2006 or later. Under CBN rules a bureau can pay you in notes only up to USD 500 or its equivalent, with larger sums going to a naira bank account or a prepaid naira card for non-residents.
Only in a limited number of places. International hotels such as the Hilton and Sheraton, the big Lagos malls (The Palms, Ikeja City Mall), airlines, some upmarket restaurants and major supermarkets such as Shoprite may take them, and even businesses with POS terminals sometimes decline foreign cards. Most restaurants, local shops, markets, taxis and smaller hotels want Naira, so never treat a card as your main way to pay.
Not always. Machines often run out of cash, develop technical faults or reject foreign cards, so go during banking hours, when staff are on hand to help, and never assume one will work when you need it. The most dependable machines belong to GTBank, Zenith, Access and First Bank. Check any charge shown on screen before accepting; your own bank may add a fee too.
Use CBN-licensed Bureau de Change offices, found in Victoria Island, Ikoyi and Lekki in Lagos, and Wuse and Garki in Abuja; they must display buying and selling rates and give an electronic receipt. Rates can differ by 2-5% between bureaux, so shop around. Avoid hotel desks and street changers, who are unofficial, risky and illegal; as large sums are involved, use reputable offices in business hours, ideally accompanied.
Much less than before. Since the CBN unified its rates in October 2023 there has been one official market, used by banks, ATMs and card payments, and in August 2026 the CBN governor said licensed bureaux were within about 2 per cent of it. From 27 November 2025 only 82 bureaux held final licences; unlicensed street changers offer little gain for the risk.
Nearby Destinations
Planning to visit multiple countries? Check out exchange guides for nearby destinations:
South Africa
Kenya
Morocco
Egypt