Today on KWIQ: 1 USDT = ₦1,357.04 · 1 BTC = ₦99,746,484
All rates →Naira premium tracker
In October 2026, the naira’s market rate had a median of ₦1,363.8 per dollar, 1.9% above the Central Bank of Nigeria’s official rate, which averaged ₦1,338.49.
The gap over the last 12 months
A positive figure means a dollar cost more naira on the market than at the official rate.
Month by month
View as a table
| Month | CBN official (average) | Market rate (median) | Gap |
|---|---|---|---|
| October 2026 | ₦1,338.49 | ₦1,363.8 | +1.9% |
| September 2026 | ₦1,326.81 | ₦1,370.82 | +3.3% |
| August 2026 | ₦1,352.47 | ₦1,392 | +2.9% |
| July 2026 | ₦1,372.75 | ₦1,393.95 | +1.5% |
| June 2026 | ₦1,366.49 | ₦1,386.5 | +1.5% |
| May 2026 | ₦1,369.49 | ₦1,377.94 | +0.6% |
| April 2026 | ₦1,360.72 | ₦1,384.24 | +1.7% |
| March 2026 | ₦1,378.82 | ₦1,402.54 | +1.7% |
| February 2026 | ₦1,355.03 | ₦1,381.57 | +2% |
| January 2026 | ₦1,416.02 | ₦1,471.42 | +3.9% |
| December 2025 | ₦1,450.35 | ₦1,467.64 | +1.2% |
| November 2025 | ₦1,443.35 | ₦1,461.27 | +1.2% |
| October 2025 | ₦1,459.04 | ₦1,483.19 | +1.7% |
| September 2025 | ₦1,497.29 | ₦1,508.01 | +0.7% |
| August 2025 | ₦1,534.25 | ₦1,537 | +0.2% |
| July 2025 | ₦1,529.85 | ₦1,531.16 | +0.1% |
| June 2025 | ₦1,549.29 | ₦1,572.22 | +1.5% |
| May 2025 | ₦1,594.7 | ₦1,606.26 | +0.7% |
| April 2025 | ₦1,594.55 | ₦1,595.71 | +0.1% |
| March 2025 | ₦1,525.87 | ₦1,552.63 | +1.8% |
| February 2025 | ₦1,500.47 | ₦1,548.01 | +3.2% |
| January 2025 | ₦1,535.44 | ₦1,648 | +7.3% |
| December 2024 | ₦1,553.25 | ₦1,640 | +5.6% |
| November 2024 | ₦1,670.28 | ₦1,735.15 | +3.9% |
| October 2024 | ₦1,640.66 | ₦1,699.82 | +3.6% |
| September 2024 | ₦1,617.72 | ₦1,653.88 | +2.2% |
| August 2024 | ₦1,586.94 | ₦1,596 | +0.6% |
| July 2024 | ₦1,559.58 | ₦1,557.94 | -0.1% |
| June 2024 | ₦1,481.77 | ₦1,476.99 | -0.3% |
| May 2024 | ₦1,435.57 | ₦1,450.03 | +1% |
| April 2024 | ₦1,236.56 | ₦1,239.5 | +0.2% |
| March 2024 | ₦1,510.84 | ₦1,562.54 | +3.4% |
| February 2024 | ₦1,505.62 | ₦1,520.99 | +1% |
| January 2024 | ₦941.26 | ₦1,301 | +38.2% |
| December 2023 | ₦901.43 | ₦1,189 | +31.9% |
| November 2023 | ₦832.68 | ₦1,124.67 | +35.1% |
Every month has more detail in the KWIQ Naira Crypto Report. The widest gap in our records was 76.7%, in November 2022.
What the naira premium means
The naira premium is the difference between two prices for the same dollar: the official rate published by the Central Bank of Nigeria, and the rate dollars actually change hands at on the market. A small gap means the two prices are close. A large one means people are paying well above the official figure.
We measure the market rate from a leading Nigerian crypto exchange’s public daily prices for USDT, a digital dollar, and take the median day of each month. The official rate is the month’s average. These are monthly figures, so a single day could have been higher or lower. Trading was thin in February and March 2021, and those months’ reports say so.
This page records what happened and doesn’t forecast the naira. For today’s figure, see the dollar to naira rate on KWIQ.
Selling dollars in USDT?
KWIQ shows the exact naira amount before you sell, with zero fees on crypto-to-naira swaps.
Frequently asked questions
What is the naira premium?
The difference between the rate dollars change hands at on the market and the Central Bank of Nigeria’s official rate.
How do you measure the market rate?
From a leading Nigerian crypto exchange’s public daily prices for USDT, taking the median day of each month. Before USDT was listed there, it is worked out from Bitcoin’s naira and dollar prices.
Will the gap get wider or narrower?
We don’t forecast the naira. This page only records what happened.
Is this the rate KWIQ pays?
No. KWIQ sets its own rate, shown on its rate pages and in the app before you sell.
