Convert your NGN to BIF in few easy clicks.
NGN to BIF Comparison Table
| Feature | NGN (Nigerian Naira) | BIF (Burundi Franc) |
|---|---|---|
| Currency Code | NGN | BIF |
| Symbol | ₦ | FBu |
| Issuing Authority | Central Bank of Nigeria | Bank of the Republic of Burundi |
| Economic Strength | Developing, resource-based economy | Developing, agriculture-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Limited digital payment infrastructure |
| Inflation Rate | Historically high | Relatively high |
| Interest Rates | High | High |
| Foreign Exchange Reserves | Moderate | Low |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Limited |
Key Observations:
- Both NGN and BIF are currencies of developing economies facing economic challenges..
- High inflation rates are a common issue for both countries.
- Burundi has a less developed digital payment infrastructure compared to Nigeria.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to KES NGN to LYD NGN to MAD NGN to MGA | NGN to NPR NGN to NZD NGN to OMR NGN to PHP |
| European Currencies | Oceania Currencies |
| NGN to CHF NGN to CZK NGN to DKK NGN to EUR | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About Burundian Franc
- Post-Colonial Currency: The Burundian Franc is the official currency of Burundi, introduced after the country gained independence.
- Central Bank Control: The Bank of the Republic of Burundi oversees the issuance and regulation of the Franc, implementing monetary policies to stabilize the currency.
- Subdivision: The Franc is divided into 100 centimes, though these smaller units are rarely used in everyday transactions.
- Economic Challenges: Burundi has faced significant economic challenges, including political instability and poverty, which have impacted the Franc’s stability.
- Cash-Based Economy: Due to limited access to banking services, Burundi remains largely a cash-based economy.
- Inflationary Pressures: The Burundian Franc has experienced periods of high inflation, affecting the purchasing power of citizens.
- Development Focus: The government of Burundi has prioritized economic development and poverty reduction, which directly impacts the Franc’s stability and role in the economy.
Top Banks in Nigeria and Burundi to Convert Your Naira to Francs
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Burundi | Credit Bank of Bujumbura (BCB) | Bujumbura |
| Burundi | Burundi Commercial Bank (Bancobu) | Bujumbura |
| Burundi | Interbank Burundi (IBB) | Bujumbura |