BTC (₿) to NGN (₦) Today: Breaking Down the Bitcoin to Naira Exchange
- Simon Zaku
- Mar 20
- 3 min read
Updated: May 11
Bitcoin (BTC) to Nigerian Naira (NGN) Exchange Rate
Updated: May 11, 2025
Current Rate: ₦165,847,990.00 per BTC
Recent Rates
May 10, 2025
1 BTC = ₦165,200,120.00
May 9, 2025
1 BTC = ₦164,200,475.00
May 8, 2025
1 BTC = ₦162,632,987.00
May 7, 2025
1 BTC = ₦155,647,170.00
May 6, 2025
1 BTC = ₦152,188,356.00
May 5, 2025
1 BTC = ₦151,604,621.00
May 4, 2025
1 BTC = ₦153,832,463.00
May 3, 2025
1 BTC = ₦155,328,243.00
May 2, 2025
1 BTC = ₦154,895,423.00
Note: Cryptocurrency exchange rates are highly volatile and can change rapidly. Always verify with a trusted source before making any financial decisions.
Read on...
Table of Contents:
What is Bitcoin (BTC)?
Bitcoin, commonly abbreviated as BTC, is the first and most prominent cryptocurrency.
It was introduced in 2009 by a pseudonymous individual or group called Satoshi Nakamoto.
Unlike traditional currencies, Bitcoin operates on a decentralized network called blockchain, which ensures transparency and security.
Think of Bitcoin as digital gold – limited in supply (only 21 million will ever exist) and valuable due to its rarity and global demand.
Bitcoin's use in Nigeria has skyrocketed, especially for remittances, online payments, and investments.
According to a 2023 Chainalysis report, Nigeria ranks among the top 10 global adopters of cryptocurrency, driven by high inflation and currency instability.
What is the Nigerian Naira (NGN)?
The Nigerian Naira, abbreviated as NGN, is Nigeria’s official currency introduced in 1973, replacing the pound.
The naira has denominations of coins and notes, with the ₦1,000 note being the highest value.
For an in-depth history of the naira, including its cultural and historical significance, read my post on Nigeria's Naira.
You’ll learn how it evolved, from the days of cowries to the modern notes we use today.
BTC vs. NGN Year-by-Year Value Comparison (2013–2025)
1. 2013
BTC to NGN: ₦11,000
Bitcoin was still a niche investment in Nigeria, with limited adoption and accessibility.
2. 2015
BTC to NGN: ₦66,000
Gained attention as a speculative investment, especially among tech-savvy Nigerians.
3. 2017
BTC to NGN: ₦2,230,000 (peak during Bitcoin’s first major bull run)
This was the year Nigerians began leveraging Bitcoin for international transactions.
4. 2020
BTC to NGN: ₦5,300,000
Pandemic-induced global uncertainty pushed Bitcoin’s value higher.
5. 2021
BTC to NGN: ₦23,100,000 (all-time high)
Institutional interest and global crypto adoption skyrocketed its value.
6. 2023
BTC to NGN: ₦29,949,193 (average rate)
Nigeria faced inflation, driving more citizens to seek Bitcoin as a hedge.
7. 2024
BTC to NGN: ₦155,769,002.44
Cryptocurrency’s volatile nature continues to shape its demand in Nigeria.
2025
Bitcoin (BTC) to Nigerian Naira (NGN) Exchange Rate
Updated: May 11, 2025
Current Rate: ₦165,847,990.00 per BTC
Recent Rates
May 10, 2025
1 BTC = ₦165,200,120.00
May 9, 2025
1 BTC = ₦164,200,475.00
May 8, 2025
1 BTC = ₦162,632,987.00
May 7, 2025
1 BTC = ₦155,647,170.00
May 6, 2025
1 BTC = ₦152,188,356.00
May 5, 2025
1 BTC = ₦151,604,621.00
May 4, 2025
1 BTC = ₦153,832,463.00
May 3, 2025
1 BTC = ₦155,328,243.00
May 2, 2025
1 BTC = ₦154,895,423.00
Note: Cryptocurrency exchange rates are highly volatile and can change rapidly. Always verify with a trusted source before making any financial decisions.
Why Compare BTC and NGN?
Nigeria’s volatile exchange rates make Bitcoin an appealing alternative for investment, wealth storage, and cross-border transactions.
However, it’s essential to weigh the risks:
Bitcoin's value can swing drastically, making it a risky but potentially rewarding choice.
Why Does It Matter for Nigerians?
Nigerians, especially young entrepreneurs and freelancers, have embraced Bitcoin for its ease of international transactions and as a hedge against naira depreciation.
Despite government crackdowns, peer-to-peer trading platforms have flourished, showing the resilience of crypto enthusiasts in the country.
Takeaway: The Future of BTC to NGN
Understanding the value of Bitcoin against the naira is more than just numbers – it reflects the economic struggles and financial innovations shaping Nigeria today.
Want to stay updated on Bitcoin rates and explore how it can benefit you?
Let’s talk more in the comments or reach out via email!
Simon Taki Zaku,
Founder, CEO, IbiFoundry LLC
For Ibifoundry.com.ng/blog.
Contact me at:
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