What you should know about...
Nigerian Nairas (NGN)
The NGN is the official currency of Nigeria, with the symbol ₦.
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Nigerian Nairas to Australian Dollars: Exchange rates today
 NGN |  GBP |
|---|---|
| 1 NGN | 0.00 GBP |
| 10 NGN | 0.00 GBP |
| 20 NGN | 0.01 GBP |
| 50 NGN | 0.02 GBP |
| 100 NGN | 0.05 GBP |
| 250 NGN | 0.13 GBP |
| 300 NGN | 0.16 GBP |
| 500 NGN | 0.27 GBP |
| 1,000 NGN | 0.54 GBP |
| 2,000 NGN | 1.08 GBP |
| 5,000 NGN | 2.71 GBP |
| 10,000 NGN | 5.43 GBP |
| GBP | NGN |
|---|---|
| 1 GBP | 1,814.95 NGN |
| 10 GBP | 18,149.50 NGN |
| 20 GBP | 36,299.01 NGN |
| 50 GBP | 90,747.53 NGN |
| 100 GBP | 181,495.06 NGN |
| 250 GBP | 453,737.65 NGN |
| 300 GBP | 544,485.18 NGN |
| 500 GBP | 907,475.30 NGN |
| 1,000 GBP | 1,816,767.83 NGN |
| 2,000 GBP | 3,633,535.67 NGN |
| 5,000 GBP | 9,083,839.19 NGN |
| 10,000 GBP | 18,170,099.49 NGN |
Exchange rates are dynamic. Always remember to check the applicable rate in-app before carrying out your exchange.
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Learn more about the Nigerian Nairas
History
The Nigerian Nairas was established as the official currency of Nigeria in 1973. Its introduction was a key development for the nation, and it continues to be a central part of the economic landscape of both Nigeria and Africa. Check our guide about the evolution of NGN to GBP to learn more about their exchange rate history.Characteristics
The Nigerian Nairas is divided into Kobo. You'll find Nigerian Nairas banknotes in 5, 10, 20, 50, 100, 200, 500, 1000 nairas and coins in 1, 2 naira; 50 kobo.Monetary policy
The Nigerian Nairas is managed by the Central Bank of Nigeria, which is responsible for the currency's monetary policy and currency's value. This approach allows the currency to fluctuate based on market conditions, while the central bank retains the ability to intervene to maintain stability and control inflation. This strategic management is crucial for supporting the economic growth and stability of Nigeria.Currency exchange
The value of the Nigerian Nairas is determined by a floating exchange rate. This means its value can fluctuate based on global supply and demand, reflecting the country's economic strength and market conditions.
Facts table for the Nigerian Nairas (NGN)
| Currency name | Nigerian Nairas | |
| Currency code | NGN | |
| Currency symbol | ₦ | |
| Minor unit | Kobo | |
| Minor unit symbol | ₦ | |
| Notes frequently used | 5, 10, 20, 50, 100, 200, 500, 1000 nairas | |
| Coins frequently used | 1, 2 naira; 50 kobo | |
| Central bank | Central Bank of Nigeria | |
| Users | Nigeria |
Popular Nigerian Nairas (NGN) currency conversions
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