The parallel market — often called the black market or aboki rate — is the informal street price for British Pound and Nigerian Naira, set outside the official banking channel. It is not a regulated or guaranteed rate.
Since the 2023 naira float, the gap between the street rate and the official, regulated rate has narrowed to around 1-2%. The GBP to NGN rate shown above is CrossPay’s real, locked-in rate on a licensed, CBN-compliant rail — now competitive with the street, fully traceable, and protected. You no longer need the parallel market to get a good rate.
Today, 1 GBP equals 1,846.35935154 NGN using CrossPay's live mid-market reference rate. We add only a transparent 0.5% spread, so the rate you see is close to the real interbank rate — far better than typical bank or bureau de change markups. Rates refresh continuously throughout the day.
1 GBP is worth 1,846.35935154 NGN right now on CrossPay's live mid-market rate. With our transparent 0.5% spread and no hidden fees, that is the real rate — not an inflated black-market or bank quote.
1,000 GBP is about 1,846,359.35 NGN at today's mid-market rate of 1,846.35935154. Enter any amount in the calculator above to see the exact NGN your recipient receives after our transparent 0.5% spread.
The black-market (aboki) or parallel rate is the informal street price, set outside the official banking system — it is not regulated or guaranteed. Since the 2023 naira float it has stayed within about 1-2% of the official rate, so the regulated GBP to NGN rate shown above is now competitive with the street — and, unlike a street deal, it is locked in, licensed and fully traceable.
Most GBP to NGN transfers arrive within minutes to 1 business day, depending on the payment method and time of day.
0.1% platform fee plus a small ~0.5% exchange rate spread — about 0.6% total on transfers of £100 or more. Smaller transfers may see a higher effective % because of the per-transfer fee floor; the live calculator shows the exact fee for your amount before you commit. Still significantly less than most banks and traditional remittance services.
The minimum transfer is £5 and the maximum is £250,000 per transaction. Higher limits are available for approved KYC users.
You can pay via UK bank transfer (Faster Payments) or debit/credit card. Bank transfers are typically faster and fee-free.
We use the mid-market rate with a small 0.5% spread. You can check the live rate on our converter page before sending.
Yes. Once you send money, you can track the transfer status in real-time from your dashboard. You'll also receive email and SMS notifications at each stage.
Funds are delivered directly to any Nigerian bank account. The recipient receives Naira (NGN) to their bank within the estimated delivery time.
British Pound (GBP) is the official currency of United Kingdom. Symbol: £. ISO 4217 code: GBP. CrossPay offers live GBP to NGN exchange rates updated in real time with transparent fees and fast delivery to Nigeria.
Use CrossPay to send money from United Kingdom to Nigeria with great rates, low fees, and 0-1 day delivery.
Send Money to Nigeria1 GBP = 1,846.35935154 NGN
Mid-market reference rate. Your final rate includes a small spread — see the calculator below for the exact amount you'll receive.