The naira strengthened on Tuesday, October 7, 2025, as official and parallel market quotes moved into the mid-₦1,400s amid improved FX liquidity and ongoing Central Bank of Nigeria (CBN) interventions.
Key rates:
NFEM / CBN (official, volume-weighted) — roughly ₦1,464–₦1,466 per US$1. Data published by market trackers and outlets citing CBN/NFEM figures put the official market at about ₦1,464–₦1,466.
Alternative NFEM/CBN reporting (end-of-day series) — ₦1,465.2 per US$1 (market data services).
CBN official bulletin/market series (some reports) — ₦1,470.26 per US$1 (other media citing CBN/Efem closing).
Parallel/AbokiFX (black-market) — about ₦1,470–₦1,480 per US$1; several local market trackers reported parallel quotes clustered in this band on Tuesday.
Market participants say the naira’s recent gains reflect higher FX inflows, increased dollar supply on the Nigerian Foreign Exchange Market (NFEM) and the CBN’s continued use of its matching platform and liquidity operations. International drivers — including a firm U.S. dollar in global markets and mixed investor sentiment — also influenced flows.
What to watch next:
CBN liquidity operations: Traders will watch the CBN’s daily NFEM releases and any open market operations for signs of sustained supply.
Parallel market premium: The gap between the NFEM (official) and AbokiFX (parallel) persists — monitoring the premium will indicate whether the official market’s improvements are filtering through to retail/BDC outlets.
Global dollar strength & oil receipts: Broader dollar moves and FX inflows from oil exports remain key upside or downside drivers for the naira.
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