Dollar to naira, parallel market vs official rates, and what moves the naira — explained for Nigerians.
The CBN cut its benchmark rate from 26.5% to 23% on 21-22 September, while gross reserves passed $54.7 billion. Here's what the official NFEM rate is doing, what reserves growth means, and what it means for anyone converting or sending money.
Unlike the dollar or the pound, the Cedi's Nigerian black market rate isn't always a premium over the official CBN rate — sometimes it's a discount. Here's why GHS/NGN behaves differently, and which number to actually use.
KES to NGN doesn't work like dollar or pound conversions — there's no parallel market rate for the Kenyan Shilling in Nigeria. Here's why, and which rate you should actually use.
Nigeria runs two official exchange rates — the CBN rate and the parallel market rate. Here is what the gap means, why it exists, and how to use both.