Official market rates (NFEM/CBN) are trading in the high ₦1,400s to about ₦1,470 while the parallel market prices remain higher, near ₦1,500+ as of October 10, 2025.
What changed?
The CBN/NFEM official series — the rate derived from the Nigerian Foreign Exchange Market (NFEM) — is showing little net change day-to-day but remains materially lower than parallel market quotes, with the CBN’s daily display showing ₦1,470.6 as its published reference. Traders continue to use the NFEM figure as the official benchmark for many transactions.
The parallel market remains more volatile and priced about ₦30–₦50 above the NFEM/CBE figure today; some black-market screens reported buy/sell prices clustering near ₦1,480/₦1,500 and in pockets up to ₦1,515 depending on city and liquidity.
Why the gap persists
1. Policy and liquidity: The Central Bank’s policy moves and liquidity management — including the recent interest-rate decision cycle earlier this autumn — influence official market conditions and banks’ access to FX. Market participants continue to price in differences between the official NFEM window and on-street liquidity.
2. Demand in the parallel market: Retail and small-value dollar demand, delays in dollar supply to informal channels, and risk premia push Aboki/parallel rates above the NFEM. AbokiFX and local trackers show the parallel market reacting faster to intraday flows.
What to watch next
CBN liquidity operations & FX auctions: Any statements or additional interventions by the CBN to supply FX to the market could narrow the gap. Watch CBN bulletins and FMDQ/NFEM notices.
Oil price and inflows: Changes in crude receipts, sovereign or external loan flows, and FX inflows from exporters can shift both official and parallel markets.
The post Dollar to Naira exchange rate today, October 10, 2025 appeared first on Vanguard News.
