Glossary
The difference between the rate an app gets and the rate it gives you. It is how a provider makes money without charging a fee. Say the real rate is 1,380 and you are offered 1,350. That gap is the spread, and it costs you 30,000 naira on 1,000 dollars.
Why dollar to naira mid-market rates don't agree, what apps publish about their conversion cost, and a one-line way to work out what a rate is costing you.
Most crypto price trackers calculate a naira USDT price from the official dollar rate instead of reading a naira orderbook. The gap was ₦46.94 a dollar on 16 September 2026.
