The currency of the United Arab Emirates is the UAE dirham (code AED). The currency of Nigeria is the Nigerian naira (code NGN).
1 United Arab Emirates dirham (AED) is today worth 214.99 Nigerian naira (NGN).
The AED to NGN exchange rate was updated on .
Convert NGN to AED
1 Nigerian naira (NGN) is worth 0.0047 United Arab Emirates dirham (AED).
The NGN to AED exchange rate was last updated on Monday 4th of December 2023 at 2:23 pm GMT.
Currency Converter – AED to NGN/NGN to AED
Use the online currency converter below to obtain the Nigerian naira (NGN) value of any AED amount (or vice versa).
Currency Conversion Table – UAE Dirhams to Nigerian Naira
The list below shows the Nigerian naira (NGN) value for a selection of UAE dirham (AED) amounts.
- 1 AED = 214.99 NGN
- 5 AED = 1074.95 NGN
- 10 AED = 2149.91 NGN
- 50 AED = 10749.54 NGN
- 100 AED = 21499.08 NGN
- 500 AED = 107495.4 NGN
- 1000 AED = 214990.81 NGN
- 5000 AED = 1074954.05 NGN
- 10000 AED = 2149908.09 NGN
- 50000 AED = 10749540.47 NGN
- 100000 AED = 21499080.94 NGN
Currency Conversion Table – Nigerian Naira to UAE Dirhams
UAE dirham (AED) equivalents for a selection of Nigerian naira (NGN) amounts are given below.
- 1 NGN = 0.005 AED
- 5 NGN = 0.023 AED
- 10 NGN = 0.047 AED
- 50 NGN = 0.233 AED
- 100 NGN = 0.465 AED
- 500 NGN = 2.326 AED
- 1000 NGN = 4.651 AED
- 5000 NGN = 23.257 AED
- 10000 NGN = 46.514 AED
- 50000 NGN = 232.568 AED
- 100000 NGN = 465.136 AED
The Nigerian naira is the official currency of Nigeria. The naira was introduced in 1973, replacing the Nigerian pound. It is divided into 100 kobo. The naira is issued by the Central Bank of Nigeria.
Banknotes are available in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 naira. The currency is commonly represented by the symbol “₦.”
The Central Bank of Nigeria (CBN) is the country’s central bank. It commenced operations in 1959 and is headquartered in Abuja.
The United Arab Emirates dirham is the official currency of the United Arab Emirates. It is abbreviated as AED and is subdivided into 100 fils. The dirham was introduced in 1973 and is also known as the Emirati dirham. It is pegged to the US dollar (USD) at a rate of 3.6725 dirhams to the dollar.
The Emirati dirham is issued by the Central Bank of the UAE. Banknotes are available in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 dirhams.
Importance of UAE Dirham to Nigerian Naira Exchange Rate
In 2020, the UN estimated 15,697 Nigerian expatriates were living in the UAE. Many of these transfer money from the UAE to their families in Nigeria.
For Nigerians living in the UAE, the dirham to naira exchange rate is an important factor in determining how much money they can send home to their families. Remittances are a vital source of income for many families in Nigeria, and the amount of money that can be sent home depends on the exchange rate. When the AED to NGN exchange rate is favourable, Nigerians in the UAE can send more money home to their loved ones.
On the other hand, when the exchange rate is unfavourable, remittances will be reduced. As a result, Nigerians living in the UAE need to stay up-to-date on the latest exchange rates to maximize their remittances.
In 2020, remittances to Nigeria were over $17 billion, making it one of the largest recipients of remittances in the world. While most of this money comes from Nigerians living in the United States and Europe, remittances from other countries, such as the UAE, are also significant. The inflow of remittances has a positive impact on the Nigerian economy.
Remittances can help to reduce poverty and inequality, as well as boost economic growth. For example, they can be used to invest in business or education or to cover basic needs such as food and housing. Additionally, remittances can help to stabilize the local economy by providing a steady source of foreign currency. In times of economic crisis, remittances can also act as a safety net for families struggling to make ends meet. As a result, remittances play a vital role in the Nigerian economy.
In 2019, goods with a value of $1.08 billion were exported to Nigeria from the UAE (source: WITS – trade database of the World Bank).
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Nigerians visit the UAE in large numbers. 68,000 Nigerian tourists stayed in Dubai in the first 6 months of 2022.
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