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Sources & methodology

Where our naira references come from, how we calculate them, and what they can and can’t tell you.

Implementation reviewed 8 October 2026

Overview

What we show

Nairate publishes indicative naira references for comparing amounts and watching target rates. We do not buy, sell or transfer money.

Market reference

A USD proxy derived from stored USDT inputs, not a verified dollar cash quote.

CBN official USD

A separate official publication, with its own date.

Dates kept visible

Collection, publication and provider times are different kinds of evidence.

Inputs

Where rates come from

USD / NGN market reference

The stored median combines Bybit USDT/NGN P2P advertised prices and CoinGecko’s USDT/NGN conversion, using a USD ≈ USDT assumption. With two readings the median is their average. These are different pricing bases, not completed dollar trades. The advertised buy/sell side is not treated as a verified customer quote.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Collected 08 Nov 2026, 10:00 WAT.

Other fiat currencies

Each currency uses its dated Frankfurter daily USD cross multiplied by the USD/NGN proxy. These are derived references, not independent local buy/sell quotes.

Crypto and USDT

CoinGecko USD spot prices are multiplied by the proxy. USDT uses its returned price, not a forced 1:1 value. Missing price inputs remain unavailable.

Freshness

How often we update

5 minutes

Configured market collection schedule. Successful observations may arrive less often.

Daily reference

Frankfurter publication dates; retrieved inputs are cached for one hour.

Weekdays

Official refresh scheduled at 13:15 UTC. Publication dates may differ.

The visible page requests a snapshot each minute. This does not imply a new source observation every minute. Crypto spot inputs are cached for two minutes.

Fiat intraday inputs older than 30 minutes and crypto inputs older than five minutes are flagged. Daily and official publications older than seven days are flagged; missing times remain unknown. A failed refresh can retain an existing dated snapshot and mark it delayed. When no usable value exists, the rate is unavailable. We do not invent a replacement.

Alert checks are scheduled every 15 minutes and require fresh references. Queueing and email delivery add delay. See Data status for available checks.

Two references

Market reference vs CBN official

The USD market proxy and official publication describe different inputs and can have different dates. Their difference is context, not an executable trading spread.

CBN NFEM · official USD

₦1,331.61 · Published 2026-10-15 · Delayed

The existing service reads the CBN API, falls back to its public rate page, and can use an optional configured provider. A stored official publication can remain available after a failed refresh. The official converter is supported for USD only.

Official publication source ↗

Calculations

History, conversions and sharing

Conversions multiply an amount by the complete rate, or divide a naira amount by it. Only display values are rounded. Fees and provider spreads are excluded.

USD history uses stored proxy observations. Other fiat history matches each observation to a Frankfurter daily fixing available from the following UTC day. Crypto history uses completed Kraken USD candles at or before the observation. Those historical inputs may differ from current converter inputs.

Charts show actual sampled observations and disclose incomplete coverage. Large gaps are not connected. Unusual points are retained; there is no visual outlier deletion. Sampled highs and lows are not guaranteed extrema of all stored observations. Period change compares the first and last displayed points. Missing matches are omitted by the existing history service.

The existing API supports 1H, 24H, 7D, 30D and 1Y. The year view includes only available history. We do not fabricate a 90-day series or a trend when data is insufficient.

Shared rate cards preserve a server-signed snapshot including its rate, basis, source names and original dates. The signature proves issuance by Nairate, not a provider’s executable quote.

Currency inputs and data checks

CNY · Chinese Yuan

USD per CNY × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.149895822403 USD per CNY

An input is delayed or its provider time is unavailable.

GBP · British Pound

USD per GBP × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

1.338490985263 USD per GBP

An input is delayed or its provider time is unavailable.

EUR · Euro

USD per EUR × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

1.116495098587 USD per EUR

An input is delayed or its provider time is unavailable.

CAD · Canadian Dollar

USD per CAD × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.710934167496 USD per CAD

An input is delayed or its provider time is unavailable.

AUD · Australian Dollar

USD per AUD × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.687096330906 USD per AUD

An input is delayed or its provider time is unavailable.

BRL · Brazilian Real

USD per BRL × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.181695949997 USD per BRL

An input is delayed or its provider time is unavailable.

CHF · Swiss Franc

USD per CHF × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

1.221150323605 USD per CHF

An input is delayed or its provider time is unavailable.

CZK · Czech Koruna

USD per CZK × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.045852629648 USD per CZK

An input is delayed or its provider time is unavailable.

DKK · Danish Krone

USD per DKK × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.14936073605 USD per DKK

An input is delayed or its provider time is unavailable.

HKD · Hong Kong Dollar

USD per HKD × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.127593334524 USD per HKD

An input is delayed or its provider time is unavailable.

HUF · Hungarian Forint

USD per HUF × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.003068143466 USD per HUF

An input is delayed or its provider time is unavailable.

IDR · Indonesian Rupiah

USD per IDR × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.000055248619 USD per IDR

An input is delayed or its provider time is unavailable.

ILS · Israeli New Shekel

USD per ILS × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.312597686777 USD per ILS

An input is delayed or its provider time is unavailable.

INR · Indian Rupee

USD per INR × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.010647359455 USD per INR

An input is delayed or its provider time is unavailable.

ISK · Icelandic Króna

USD per ISK × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.008161266629 USD per ISK

An input is delayed or its provider time is unavailable.

JPY · Japanese Yen

USD per JPY × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.00631592244 USD per JPY

An input is delayed or its provider time is unavailable.

KRW · South Korean Won

USD per KRW × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.000735981394 USD per KRW

An input is delayed or its provider time is unavailable.

MXN · Mexican Peso

USD per MXN × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.053464499572 USD per MXN

An input is delayed or its provider time is unavailable.

MYR · Malaysian Ringgit

USD per MYR × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.246366100025 USD per MYR

An input is delayed or its provider time is unavailable.

NOK · Norwegian Krone

USD per NOK × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.106070409538 USD per NOK

An input is delayed or its provider time is unavailable.

NZD · New Zealand Dollar

USD per NZD × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.554354454238 USD per NZD

An input is delayed or its provider time is unavailable.

PHP · Philippine Peso

USD per PHP × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.015868733834 USD per PHP

An input is delayed or its provider time is unavailable.

PLN · Polish Złoty

USD per PLN × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.25418128209 USD per PLN

An input is delayed or its provider time is unavailable.

RON · Romanian Leu

USD per RON × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.209069431958 USD per RON

An input is delayed or its provider time is unavailable.

SEK · Swedish Krona

USD per SEK × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.101260695661 USD per SEK

An input is delayed or its provider time is unavailable.

SGD · Singapore Dollar

USD per SGD × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.780274656679 USD per SGD

An input is delayed or its provider time is unavailable.

THB · Thai Baht

USD per THB × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.029806259314 USD per THB

An input is delayed or its provider time is unavailable.

TRY · Turkish Lira

USD per TRY × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.019938986701 USD per TRY

An input is delayed or its provider time is unavailable.

ZAR · South African Rand

USD per ZAR × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

Frankfurter daily referencePublication: 2026-11-06

0.060466072487 USD per ZAR

An input is delayed or its provider time is unavailable.

BTC · Bitcoin

USD per BTC × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

CoinGecko USD spotProvider updated: 08 Nov 2026, 10:04 WAT

75,847 USD per BTC

An input is delayed or its provider time is unavailable.

ETH · Ethereum

USD per ETH × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

CoinGecko USD spotProvider updated: 08 Nov 2026, 10:04 WAT

2,236.05 USD per ETH

An input is delayed or its provider time is unavailable.

USDT · Tether

USD per USDT × NGN per USD proxy. Full input values are used before display rounding.

Bybit USDT/NGN P2P adsNairate collected: 08 Nov 2026, 10:00 WAT

1,373 NGN per USDT

CoinGecko USDT/NGN conversionNairate collected: 08 Nov 2026, 10:00 WAT

1,348.63 NGN per USDT

CoinGecko USD spotProvider updated: 08 Nov 2026, 10:04 WAT

0.998962 USD per USDT

An input is delayed or its provider time is unavailable.

Data checks

fail

USDT feed collection

2026-11-08T09:00:17.096+00:00

Collection times describe when Nairate received readings, not provider market-update times.

watch

Market comparability

Different USDT market bases

Bybit P2P ad prices and CoinGecko's NGN conversion are separate inputs; averaging them does not verify the parallel USD cash market.

Snapshot requested 08 Nov 2026, 10:08 WAT. Freshness does not certify a trading quote.

Please read

Limits & disclaimer

These are indicative references, not financial advice or offers to buy or sell currency. Your provider sets its own rate, fees, limits and settlement conditions. Confirm the final amount before sending money.

Any provider comparison labelled DEMO in a preview uses fictional illustrative values. It is not a live quote, recommendation or booking service.

Corrections

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