Abiwin uses the newest dated Central Bank of Nigeria (CBN) NFEM weighted-average observation as its official USD/NGN rate. Legacy third-party USD/NGN feeds are not used.
Abiwin uses the newest dated Central Bank of Nigeria (CBN) NFEM weighted-average observation as its official USD/NGN rate. Legacy third-party USD/NGN feeds are not used.
For more information about how Abiwin sources and processes rates, see the Rate Methodology page.
Why Your Bank’s Rate May Be Different
It is normal for the rate displayed by Abiwin to differ from the rate offered by your bank or money-transfer provider.
A provider may include:
- Exchange-rate spread
- Transfer fee
- Service fee
- Commission
- Receiving fee
- Other transaction costs
Therefore, an online reference rate should not automatically be treated as the rate you will receive when exchanging or transferring money.
Always check the final amount and applicable fees before completing a transaction.
Exchange Rates for International Money
Exchange-rate information can be useful when:
- Sending money internationally
- Receiving remittances
- Planning international travel
- Paying overseas tuition
- Buying goods from another country
- Comparing money-transfer providers
- Calculating the cost of imports
- Monitoring currency movements
- Comparing the value of different currencies
However, the final amount received can depend on the provider, payment method, fees and exchange rate used at the time of the transaction.
Black Market and Parallel-Market Rates
Abiwin may publish indicative information relating to unofficial or parallel currency markets, particularly for USD/NGN.
These values are not official exchange rates and should not be interpreted as guaranteed prices.
Parallel-market rates can vary significantly based on the source, location, timing, market demand and transaction conditions.
Users should verify any rate with an appropriate and authorized provider before making a currency transaction.
Compare Exchange Providers
Abiwin also provides tools for comparing available exchange providers.
Where sufficient quote information is available, users can compare provider rates, fees and potential net value against Abiwin’s reference rate.
A provider’s quoted rate can change at any time. Provider comparison information should therefore be treated as informational rather than a guarantee that a particular rate or offer will be available.
Important Exchange Rate Disclaimer
Abiwin’s exchange rates are provided for general informational purposes.
Reference rates may differ from executable rates available through banks, licensed foreign-exchange providers, remittance companies, Bureau de Change operators and other financial institutions.
Exchange rates, fees and provider terms can change without notice.
Abiwin does not provide personalized financial advice and does not guarantee that a displayed exchange rate will be available for an actual transaction.
Before exchanging or transferring money, verify the applicable rate, fees and transaction terms directly with the relevant provider.
Explore Abiwin
Check Current Rates — View available currency reference rates.
Currency Converter — Convert one supported currency into another.
Historical Rates — Review previous currency movements.
Compare Providers — Compare available exchange-provider information.
Market Guides — Learn more about currencies and international money.
Rate Methodology — Understand how Abiwin sources and processes exchange-rate information.