The paper assessed qualitatively the threat status of nigerian freshwater fishes that are presently being exported and those that have potential in aquarium trade using such criteria as rarity, size at maturity, mode of reproduction, human population density, habitat degradation, pollution and range of each species among others. For their conservation captive breeding of these fishes were proffered with information that can assist collectors, exporter and aquaculturists that wants to breed polypterids, Butterfly fish, Knife fish, Elephantfish, Pollymyrus isidori, Arnordichthys spilopterus, Nannaethiops unitaeniatus, Killifishes, Polycentropsis abbreviatta, Cichlids, Ctenpomas, Mastacembelids and Tetraodon lineatu