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MAGAIBA to NGN Converter and calculator

MAGAIBA/NGN: 1 MAGAIBA = 0.1065 NGN. The price of converting 1 Magaiba (MAGAIBA) to Nigerian Naira (NGN) is 0.1065 NGN today.
MAGAIBA
MAGAIBA
NGN
Last updated as of 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter provides MAGAIBA to NGN real-time exchange rates, making it easy to convert Magaiba (MAGAIBA) to Nigerian Naira (NGN). The conversion result is based on real-time data. The conversion result shows that 1 MAGAIBA is currently valued at 0.1065 NGN. Since crypto prices can change rapidly, we recommend checking back for the conversion result.
1 MAGAIBA is currently valued at 0.1065 NGN, which means buying 5 MAGAIBA would cost 0.5323 NGN. Similarly, ₦1 NGN can be converted to 9.39 MAGAIBA, and ₦50 NGN can be converted to 46.97 MAGAIBA, excluding any platform or gas fees.

Convert MAGAIBA to NGN

Convert NGN to MAGAIBA

Magaiba
Nigerian Naira
1 MAGAIBA
0.1065  NGN
2 MAGAIBA
0.2129  NGN
5 MAGAIBA
0.5323  NGN
100 MAGAIBA
10.65  NGN
200 MAGAIBA
21.29  NGN
500 MAGAIBA
53.23  NGN
1000 MAGAIBA
106.46  NGN
5000 MAGAIBA
532.31  NGN
10000 MAGAIBA
1,064.61  NGN
In the table above, you'll find a comprehensive MAGAIBA to NGN converter that shows the value of Magaiba in Nigerian Naira across commonly used conversion amounts. The list covers conversions from 1 MAGAIBA to NGN, all the way up to 10000 MAGAIBA, providing a clear view of their respective values.
Nigerian Naira
Magaiba
200 NGN
1,878.62 MAGAIBA
500 NGN
4,696.56 MAGAIBA
1000 NGN
9,393.11 MAGAIBA
2000 NGN
18,786.22 MAGAIBA
5000 NGN
46,965.55 MAGAIBA
10000 NGN
93,931.1 MAGAIBA
50000 NGN
469,655.51 MAGAIBA
100000 NGN
939,311.03 MAGAIBA
In the table above, you'll find a comprehensive NGN to MAGAIBA converter that shows the value of Nigerian Naira in Magaiba across commonly used conversion amounts. The list covers conversions from 1 NGN to MAGAIBA, all the way up to 100000 NGN, providing a clear view of their respective values.

MAGAIBA to NGN chart

MAGAIBA/NGN: 1 MAGAIBA = 0.1065 NGN; 2025/06/24 02:54:28
In the past 1D, Magaiba has changed -13.36% to NGN. Based on the trend and price charts, Magaiba(MAGAIBA) has changed -13.36% to NGN while Nigerian Naira(NGN) has changed % to MAGAIBA in the last 24 hours.
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MAGAIBA to NGN conversion data: Volatility and price changes of Magaiba in NGN

The highest Magaiba price in NGN over the past 7 days was 0.1451 NGN while the lowest Magaiba price in NGN over the past 7 days was 0.08922 NGN. The relative change between the highs and lows in Magaiba price in NGN over the last 7 days indicates a volatility of %. You can view additional volatility data and MAGAIBA to NGN prices for the past 24 hours, 30 days, and 90 days in the table above.
Last 24 hours Last 7 days Last 30 days Last 90 days
High
0.1451 NGN
0.1451 NGN
0.1451 NGN
0.1785 NGN
Low
0.1257 NGN
0.08922 NGN
0.08922 NGN
0.08922 NGN
Average
0 NGN
0 NGN
0 NGN
0 NGN
Volatility
%
%
%
%
Change
-13.36%
+36.77%
-7.21%
+5.02%

Magaiba information

MAGAIBA to NGN market statistics

MAGAIBA/NGN:
₦0.1065
MAGAIBA 24h volume:
--
MAGAIBA market cap:
--
MAGAIBA circulating supply:
0 MAGAIBA

Current MAGAIBA to NGN exchange rate

Magaiba to Nigerian Naira is rising this week.
Magaiba's current market price is ₦0.1065 per MAGAIBA, with a total market cap of ₦0 NGN based on a circulating supply of -- MAGAIBA. The trading volume of Magaiba has changed by 0.00% (₦0 NGN) in the last 24 hours. Last trading day, MAGAIBA's trading volume was ₦0.

More info about Magaiba on Bitget

Nigerian Naira information

About the Nigerian Naira (NGN)

What Is the Nigerian Naira (NGN)?

The Nigerian Naira is the official currency of Nigeria, a country in West Africa. The Naira is symbolized by ₦ and has the currency code NGN. One Naira is divided into 100 Kobo. As Africa's largest economy, Nigerian Naira plays a crucial role both domestically and in the African financial landscape. The Nigerian Naira is the sole legal tender in Nigeria, and it is used for all transactions within the country.

The Nigerian Naira is issued by the Central Bank of Nigeria (CBN), which is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. The CBN is responsible for the design, production, and distribution of the currency, as well as for implementing monetary policy and maintaining the value of the Naira.

What Is the History of NGN?

The Nigerian Naira, introduced on January 1, 1973, marked a significant milestone in Nigeria's economic history, replacing the Nigerian pound at a rate of 2 Naira for 1 pound. This transition signified Nigeria's shift from the British pound sterling to a distinct and independent decimal currency system. The name 'Naira' was derived from 'Nigeria', symbolizing the nation's sovereignty in monetary matters. The initial series of banknotes and coins were the first to be issued by an independent Nigeria, with the coins being the last to feature Queen Elizabeth II, reflecting the country's colonial history.

Notes and Coins of NGN

The Nigerian Naira (NGN) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 50 Kobo, 1 Naira, and 2 Naira. Banknotes are issued in denominations of ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, and ₦1000.

What Is eNaira?

The eNaira is the first African central bank digital currency (CBDC). Launched on October 25, 2021, by President Muhammadu Buhari, the eNaira is issued and regulated by the Central Bank of Nigeria (CBN). It operates as a legal tender, just like physical Naira, but in a digital form, maintaining a one-to-one value with the traditional Naira. The eNaira aims to enhance financial inclusion, improve payment efficiency, and facilitate seamless cross-border transactions. It operates on a blockchain network, allowing peer-to-peer transactions without intermediaries, distinguishing itself from decentralized cryptocurrencies like Bitcoin by running on a private blockchain controlled by the CBN. Users access the eNaira through digital wallets, with transactions promising speed, reduced costs, and increased convenience.

Is NGN Pegged to GBP?

No, the Nigerian Naira (NGN) is not pegged to the British Pound Sterling (GBP). The Naira operates on a floating exchange rate system, where its value is determined by market forces based on supply and demand in the foreign exchange market.

Historically, Nigeria used the British Pound Sterling during its time as a British colony and for some years after gaining independence. However, in 1973, Nigeria introduced the Naira to replace the Pound Sterling and established its own monetary system. Since then, the Naira has not been pegged to the Pound Sterling or any other foreign currency but has been subject to fluctuations in the international currency markets.

Is NGN a Stable Currency?

The Nigerian Naira (NGN) has historically faced challenges regarding stability. The Naira had been experiencing significant fluctuations, largely due to factors such as political instability, economic challenges, and fluctuations in oil prices, which is a major revenue source for Nigeria. For instance, in 2021, the official exchange rate of the Naira to the US Dollar was around 380 NGN to 1 USD, while the parallel market rate was much higher, around 475 NGN to 1 USD. In June 2023, the Naira fell 23% in a day to a rate of ₦600 to US$1. This discrepancy indicates ongoing challenges in achieving currency stability.

Bitget crypto-to-fiat exchange data shows that the most popular Magaiba currency pair is the MAGAIBA to NGN, with for Magaiba's currency code being MAGAIBA. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NGN.

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How to convert MAGAIBA to NGN

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Buy MAGAIBA (or USDT) for NGN (Nigerian Naira) offers
Bitget P2P trading does not currently support direct buying of MAGAIBA with NGN. However, you can buy USDT in Bitget P2P trading first, and then buy MAGAIBA with USDT via Bitget spot market.
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1 MAGAIBA to $0.{4}6866 USD
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1 MAGAIBA to R$0.0003772 BRL

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MAGAIBA to NGN Conversion tables

The exchange rate of Magaiba is decreasing.
The exchange rate of 1 MAGAIBA to Nigerian Naira has changed by +36.77% in the last 7 days. In the last 24 hours, the rate has fluctuated by -13.36%, reaching a high of 0.1451 NGN and a low of 0.1257 NGN . One month ago, the value of 1 MAGAIBA was ₦0.1162 NGN , which represents a -7.21% change from its current value. Over the last year, Magaiba has changed by
-
0.1173NGN
, resulting in a change of -48.27% in its value.
24 hours ago1 month ago1 year ago
Amount 02:54 am today 24 hours ago 24h change
0.5 MAGAIBA
₦0.05323₦0.06293
-13.36%
1 MAGAIBA
₦0.1065₦0.1259
-13.36%
5 MAGAIBA
₦0.5323₦0.6293
-13.36%
10 MAGAIBA
₦1.06₦1.26
-13.36%
50 MAGAIBA
₦5.32₦6.29
-13.36%
100 MAGAIBA
₦10.65₦12.59
-13.36%
500 MAGAIBA
₦53.23₦62.93
-13.36%
1000 MAGAIBA
₦106.46₦125.85
-13.36%

MAGAIBA to NGN FAQ

How much is 1 Magaiba in NGN?
Right now, the price of 1 Magaiba (MAGAIBA) in Nigerian Naira (NGN) is ₦0.1065.
How much MAGAIBA can I buy for 1 NGN?
Based on the current exchange rate, you can get 9.39 MAGAIBA for 1 NGN.
How do I calculate or convert MAGAIBA to NGN?
You can use our MAGAIBA to NGN calculator at the top of this page to convert any amount of MAGAIBA to NGN. We've also included quick-reference tables for the most popular conversions. For example, 5 NGN is equivalent to 46.97 MAGAIBA, while 5 MAGAIBA will cost around 0.5323NGN.
What is the highest price of MAGAIBA/NGN in history?
The all-time high price of 1 MAGAIBA in NGN is ₦33.05. It remains to be seen if the value of 1 MAGAIBA/NGN will exceed the current all-time high.
What is the price trend of Magaiba in NGN?
Over the past 7 days, the exchange rate of Magaiba (MAGAIBA) has gone up by 36.77%.   Over the last month, the exchange rate of Magaiba (MAGAIBA) has gone down by 7.21% against Nigerian Naira (NGN).

What factors influence the conversion rate of MAGAIBA to NGN?

There are many factors that affect the relationship between Magaiba and Nigerian Naira, spanning multiple dimensions such as macroeconomic trends, policy regulation, and technological innovation. Specifically, the following key factors play an important role:
Market sentiment:Investor sentiment and confidence have a significant impact on the dynamics of MAGAIBA/NGN. When there is positive news in the market about the widespread adoption of MAGAIBA or major technological breakthroughs, it tends to trigger market optimism and drive the rise of MAGAIBA/NGN. Conversely, negative news, such as regulatory crackdowns and security vulnerabilities, may trigger market panic and lead to a decline in MAGAIBA/NGN.
Regulatory environment:Government policies and regulations surrounding cryptocurrencies have a direct impact on their acceptance, which in turn determines their value relative to traditional currencies such as the US dollar. Clear and supportive regulations can enhance investor confidence in cryptocurrencies and drive their value up. Conversely, vague or overly strict regulatory policies may hinder the development of cryptocurrencies and cause their value to fall.
Economic indicators:Macroeconomic factors in the country where the fiat currency is issued—such as inflation rates, interest rates, and key economic growth indicators—play a crucial role in determining the fiat currency's value and indirectly affect the exchange rate of MAGAIBA/NGN. For example, high inflation rates may lead to a decrease in market trust in fiat currencies, thereby increasing investors' demand for cryptocurrencies such as Bitcoin as a hedge, driving up their prices.
Technological progress:The continuous development and innovation of blockchain technology, as well as various improvements in the cryptocurrency ecosystem—such as expansion solutions and security enhancements—have provided strong support for the value growth of cryptocurrencies like Bitcoin.
Investors must understand these dynamics to avoid making wrong decisions. After considering these factors, investors should also closely monitor future changes in the price of Magaiba and adjust their investment strategies accordingly in the evolving market.

Popular exchange rates — Crypto-to-Fiat converter

Bitget crypto-to-fiat exchange data shows the popular Magaiba currency pairs: MAGAIBA to US Dollar (USD), MAGAIBA to Euro (EUR), MAGAIBA to Pound Sterling (GBP), MAGAIBA to Canadian Dollar (CAD), MAGAIBA to Indian Rupee (INR), MAGAIBA to Pakistani Rupee (PKR), MAGAIBA to Brazilian Real (BRL), MAGAIBA to…
The price of Magaiba in the US is $0.{4}6866 USD. Additionally, Magaiba’s price is €0.{4}5922 EUR in the eurozone, £0.{4}5070 GBP in the UK, C$0.{4}9428 CAD in Canada, ₹0.005929 INR in India, ₨0.01947 PKR in Pakistan, R$0.0003772 BRL in Brazil, and more.
The most popular Magaiba currency pair is the MAGAIBA to Nigerian Naira(NGN). The price of 1 Magaiba (MAGAIBA) in Nigerian Naira (NGN) is ₦0.1065.

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This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.