Home › Travel Guides › Africa Travel Guide › Nigeria › Money & duty free for Nigeria

Money & duty free for Nigeria

Currency information: 

Naira (NGN; symbol ₦) = 100 kobo. Notes are in denominations of ₦500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of ₦1 and kobo 25, 10, 5 and 1.

Credit cards: 

American Express, Diners Club, MasterCard and Visa are rarely accepted in Nigeria and, because of the prevalence of credit card fraud, their use is ill-advised.

Travellers cheques: 

Facilities for changing traveller's cheques are limited to Abuja and larger towns, but exchanging them can be problematic.

Banking hours: 

Mon 0800-1500, Tue-Fri 0800-1330.

Currency restriction: 

There are no restrictions on the import and export of local currency. The import and export of foreign currency is unrestricted but must be declared.

Currency exchange: 

The government of Nigeria has fixed an artificially high rate for local currency (the Naira) in terms of its value in exchange for foreign currencies. However, trading on the black market is extremely dangerous and could lead to arrest. Therefore, visitors are advised to exchange currency at the official rate and at approved exchange facilities, which often include major hotels. Inter-bank transfers are frequently difficult, if not impossible, to accomplish.

Nigeria duty free

The following goods may be imported into Nigeria by persons over 18 years of age without incurring customs duty:

• 200 cigarettes or 50 cigars or 200g of tobacco.
• 1L of spirits and 1L of wine.
• 284mL of perfume.
• Gifts to the value of NGN300 (excluding jewellery, photographic equipment, electronics and luxury goods).

Note: (a) If more than each of the above is imported, duty will be levied on the whole quantity. Heavy duty will be levied on luxury items such as cameras or radios unless the visitor's stay is temporary. (b) It is forbidden to buy or sell antiques from or to anyone other than the Director of Antiquities or an accredited agent; visitors should obtain a clearance permit from one of the above before presenting antiques, artefacts or curios at the airport.

Banned imports: 

Champagne, sparkling wine, beer, mineral water and soft drinks; fruits, vegetables, cereals and eggs, whether fresh or preserved; jewellery and precious metals; textile fabrics and mosquito netting.

Recommended Sites:

Protect yourself from malaria
Before you travel, find out if your holiday destination is in a malaria zone.
(An educational initiative organised and funded by GlaxoSmithKline Travel Health. UK/MARK/0173/10 September 2010)
Travel insurance
For residents of over 150 countries. High levels of medical, evacuation, emergency & most adventure activities covered.