How to Easily Get FX in Nigeria Before Travelling Abroad
Planning an international trip comes with many to-dos, and one of the most important is sorting out your foreign exchange (FX). Whether you’re traveling for leisure, education, or business, getting foreign currency in Nigeria doesn’t have to be stressful—if you plan ahead.
Here’s a simple guide to help you get FX smoothly before your trip:
1. Plan Early and Know What You Need
Start by identifying the currency you’ll need and how much. Research the exchange rates and factor in your travel budget. Early planning can help you avoid last-minute panic or poor rates.
2. Use Your Bank’s Official Channels
Many Nigerian banks offer official FX services for travel. You can request FX for Personal Travel Allowance (PTA) or Business Travel Allowance (BTA) through your bank, provided you have the required documents:
- Valid passport
- Visa
- Travel ticket
- Completed travel form
This method is usually cheaper than black market options.
3. Explore Bureau de Change (BDC) Options
Licensed BDCs provide FX for travelers at slightly higher rates than banks but may be more accessible if you need quick cash. Always ensure you’re dealing with a CBN-licensed BDC to avoid scams.
4. Consider International Prepaid Cards
Some banks offer FX-denominated prepaid cards (e.g., USD cards). Load your card with the needed currency and use it abroad without carrying large sums of cash.
5. Use Fintech Apps (Cautiously)
A few Nigerian fintech platforms offer FX services for travelers. Make sure the app or platform is legitimate and regulated, and read reviews before proceeding.
Final Tips
✅ Don’t wait until your travel day to look for FX
✅ Always compare exchange rates
✅ Keep your receipts and transaction proof
✅ Avoid unregulated or suspicious sources
Getting FX in Nigeria can be smooth with proper preparation and trusted channels. Safe travels and enjoy your trip.
