Nigeria: How to Buy US Stocks When the Naira Keeps Crashing (2026 Guide)

This article was originally published on MGBABA . MGBABA is an AI-powered platform that helps you buy 50+ US stocks without a traditional broker. The Naira Nightmare: How 230 Million Nigerians Lost 70% of Their Savings Here is the number that defines modern Nigeria: 1 USD bought 460 NGN in May 2023. By March 2026, it buys over 1,600 NGN. That is a loss of more than 70% in purchasing power in less than three years. Let that hit you. If you had 10,000,000 NGN in a Nigerian bank in early 2023, it was worth roughly $21,700. Today that same 10 million naira is worth about $6,250 — even if you never spent a single kobo. This is not a slow, gradual decline. This was a financial earthquake that shook the foundations of every Nigerian household overnight. June 2023: The Day the Naira Died On June 14, 2023, President Bola Tinubu's newly inaugurated government made a decision that would reshape Nigerian finance forever: they removed the naira's peg to the US dollar. For decades, the Central Bank