🇳🇬 NGN to 🇲🇬 MGA — Nigerian Naira to Malagasy Ariary (Ar) Rate Today
Live indicative interbank rate. Last refreshed 25 Jun 2026 01:24:35 UTC.
Convert Nigerian Naira to Malagasy Ariary using the live indicative interbank rate and the converter below. Covers the cost of sending to Madagascar via the major mobile money apps.
Currency converter
NGN → MGA conversion table
| NGN | MGA |
|---|---|
| 500 | 1,550 |
| 1,000 | 3,099 |
| 2,000 | 6,198 |
| 5,000 | 15,496 |
| 10,000 | 30,992 |
| 25,000 | 77,481 |
| 50,000 | 154,961 |
| 100,000 | 309,923 |
| 250,000 | 774,807 |
| 500,000 | 1,549,615 |
| 1,000,000 | 3,099,230 |
Table computed at the indicative rate of 1 NGN = 3 MGA. Real operator-side values include a 1%-4% spread.
Nigerian Naira to Malagasy Ariary exchange rate history
Official vs Parallel Market Rate
Tracks live P2P (via Bybit)Parallel signal: Binance P2P USDT median, updated 25 Jun 2026, 01:00 (less than 1h ago). The quote tracks the live official rate between refreshes.
The parallel rate shown is an indicative, community-aggregated figure sourced from MomoCalc parallel-rate tracker. MomoCalc does not buy, sell, or set currency rates. Parallel rates vary by location, dealer, and time of day, and trading outside licensed channels may carry legal and security risks. Always confirm current rates with a licensed dealer before transacting. Educational only — not financial advice.
What moves the Nigerian Naira rate
The naira has been on a managed float since the 2023 NAFEM unification, which erased most of the old official-vs-parallel gap (30%-60% pre-2023, now 1%-3%). Watch CBN interventions, oil receipts and the parallel-market premium — that is what moves the rate day to day.
About the Nigerian Naira
The Nigerian Naira (NGN, ₦) is the official currency of Nigeria, issued by the Central Bank of Nigeria (CBN) since 1973 when it replaced the Nigerian pound. Subdivided into 100 kobo, the Naira is one of Africa's most-traded currencies and the principal medium of exchange for the continent's largest economy. Since the CBN's 2023 unification of the parallel and official exchange rate windows through what it calls the NAFEM mechanism, the Naira has traded under market-driven pricing rather than the previous administered peg. Nigeria receives an estimated 20 billion USD a year in formal remittances, and for inbound flows to MTN MoMo PSB, OPay, PalmPay and Moniepoint the published Naira rate is now typically within 1%-3% of the parallel market — a sharp narrowing compared to the 30%-60% gaps that prevailed before unification.
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FAQ
What is the NGN/MGA exchange rate today?
How much is 100 NGN in MGA?
What's the best way to send Nigerian Naira to Madagascar?
Is the Malagasy Ariary a stable currency?
Why is the rate I see on my mobile money operator different?
Rates shown on this page are indicative interbank reference rates updated daily. Operator send rates typically include a 1%-4% spread above this reference, which covers FX hedging cost, settlement risk and commercial margin. For exact send rates via M-Pesa, MTN MoMo, Sendwave, LemFi, WorldRemit, Wise or TapTap Send to Madagascar, see the inbound transfer comparison.