Exchange Rate Pounds to Naira in Black Market Today
The Pounds to Naira Black Market rate for today in Lagos, Nigeria is ₦ 950.00 as of 31 May 2023.
1 Pounds = ₦ 950.00
How much is Pounds to Naira in Black Market today?
The rates often vary slightly from city to city in Nigeria such as in Abuja, Lagos, Port Harcourt, Kano, and Calabar. Usually, this difference is not more than ₦ 2.00.
How much is 1 Pound to Naira in the black market?
1 Pound to Naira black market exchange rate today is ₦ 950.00
How much is 10 Pound to Naira in the black market today?
10 Pound to Naira in the black market exchange rate today is ₦ 9, 500.00
How much is 50 Pound to Naira in the black market today?
50 Pound to Naira black market exchange rate today is ₦ 47, 500.00
How much is 100 Pound to Naira in the black market?
100 Pound to Naira black market exchange rate today is ₦ 95, 000.00
How much is 150 Pound to Naira in the black market today?
150 Pound to Naira at the black market exchange rate is ₦ 142, 500.00
How much is 200 Pound to Naira in Lagos black market today?
200 Pound to Naira in Lagos black market today is ₦ 190, 000.00
How much is 1000 Pound to Naira in the black market today?
1000 Pound to Naira black market exchange rate today is ₦ 952, 000.00
How much is 2000 Pound to Naira in the black market today?
2000 Pound to Naira black market exchange rate today is ₦ 1, 900, 000.00
How much is 10000 Pound to Naira in the black market today?
10000 Pound to Naira black market exchange rate today is ₦ 9, 500, 000.00
How much is 100000 Pound to Naira in the black market today?
100 000 Pound to Naira black market exchange rate today is ₦ 95, 000, 000.00
Check out other Pound to Naira rates below:
Buying and Selling Pounds and Naira Black Market Terminologies Defined
The buying rate refers to the amount in Naira that one receives after exchanging his/her 1 Pounds in any of the market segments that is the Central Bank of Nigeria, FX Market, Nigerian Banks, Western Union, MoneyGram, or from the black market traders.
The selling rate is the reverse of the buying rate which is the value the traders in the above markets will sell 1 Pound to you when you pay in Naira, and it is always higher than the buying rate.
It is important you get yourself acquainted with these terms when you are trying to trade or exchange Pound for Naira in various financial institutions or money exchangers.
The British Pound (GBP)
The British Pound Sterling (GBP) is generally accepted in Nigeria for international trade. A subunit of the Pound is known as 1 Penny, and the symbols of Penny and Pound are (p) and £ respectively.
However, some other countries besides the UK, also use the Pound Sterling as their official currency. These countries include – Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha,
The Nigeria Naira (NGN)
The official currency used by Nigeria is known as the Naira and its subunit is called 1 kobo. The Central Bank of Nigeria issues and regulates the currency. The symbol for the Naira is ₦, while the code is NGN.