Last updated on September 20th, 2022 at 11:39 pm
On February 11, 2022, the governor of the Central Bank of Nigeria disclosed that the apex bank would stop the sales of forex to commercial banks in the country by the end of 2022.
The statement by Godwin Emefiele sends a strong message to the banks that they should start sourcing for USD, EUR, and GBP among other foreign currencies by themselves.
As it stands, the 22 commercial banks in Nigeria have started hunting for forex and they all have different exchange rates.
This is apart from PTA exchange rate, official rate, blackmarket rate, and Peer-to-Peer exchange rate that do not all have the same rate.
Here is the updated Nigerian bank exchange rate in major foreign currencies that are mostly used for global transactions including EUR, USD, GBP, and CAD.
Note: You may not be able to spend more than $20 on international transactions using naira debit cards.
In this post, we track the amount charged by the banks when customers make international transactions using their debit card.
| Banks | Currencies | Rate in Naira |
| Access Bank | US Dollar EUR Pounds Sterling CAD AUD | NGN505 NGN569 NGN659 NGN395 NGN337 |
| GT Bank Exchange Rate | US Dollar EUR Pounds Sterling CAD | NGN490 NGN549 NGN649 NGN336 |
| EcoBank | USD GBP EUR CAD | NGN480 NGN621 NGN499.4 NGN299 |
| Zenith Bank | USD EUR GBP CAD | NGN480 NGN479.17 NGN625 NGN353 |
| Stanbic IBTC | USD EUR GBP CAD | NGN475 NGN543 NGN646 NGN337 |
| FCMB Exchange rate | USD EUR GBP CAD | NGN480 NGN636 NGN676 NGN392 |
| UBA | EUR USD Pounds Sterling CAD | NGN566 NGN510 NGN622 NGN316 |
| Union Bank | GBP CAD USD Euro | NGN569 NGN316 NGN414 NGN484 |
| Fidelity Bank | USD Euro GBP | NGN533 NGN577 NGN692 |
| Sterling Bank | CAD EUR GBP USD | NGN344 NGN534 NGN619 NGN480 |
| Wema | USD Dollar Pounds Sterling | NGN502 NGN628 |
| First Bank | USD Euro Pounds Sterling CAD | NGN460 NGN609 NGN707 NGN316 |
| Standard Chatered Bank | AUD USD Pounds Sterling US Dollar CAD | NGN342 NGN463 NGN625 NGN463 NGN371 |
| Polaris Bank | GBP USD EUR CAD | NGN672 NGN447 NGN560 NGN382 |
Note: Bank exchange rate is not stable. It reacts to amny factors. Kindly check with your bank
