CBN official rate vs market rate

FXRates.ng separates official CBN records from market observations because they serve different purposes. Every table and calculation names its source, timestamp and status.

Start with the source

The CBN daily reference is appropriate when a process specifically asks for an official rate. A live or delayed market quote is useful for monitoring, but the price offered by a bank or payment provider can include its own spread and fees.

Make the right comparison

Check the source date, rate type and direction before using a figure. Derived calculations are labelled and do not include bank spreads, transfer fees or card charges.