The Exchange Rate Is Only Part of the Cost of Paying Abroad
Understand foreign exchange costs in Nigeria, including transfer charges, payment timing and documentation, to plan international transactions better.
Nigeria Is Using More Foreign Currency. What Should You Be Doing Differently?
Recent reporting shows that Nigeria’s foreign-exchange utilization reached $50.9 billion in 2025, its highest level in six years and a 91% increase from the previous year. The figure reflects the scale of foreign-currency demand moving through the economy, particularly from businesses with international obligations.