The exchange rate between the Nigerian Naira (NGN) and the British Pound Sterling (GBP) displayed a mixed performance on Monday, December 15, 2025, across Nigeria’s official and parallel foreign exchange markets.
Nigerian Foreign Exchange Market (NFEM) Data
In the official Nigerian Foreign Exchange Market (NFEM), the Pound Sterling traded at an average rate of ₦1,936.86 per Pound at the close of early trading hours. This rate reflects the prevailing value for investors and exporters utilizing the formal window.
Market data indicated a slight depreciation of the Naira against the Pound in early trading compared to the previous trading day’s closing figures. Market participants continue to monitor the NFEM for increased liquidity and any intervention by the Central Bank of Nigeria (CBN).
Parallel Market Rate
Simultaneously, the parallel market, commonly referred to as the black market, quoted a higher exchange rate for the Pound Sterling. The Pound was reportedly bought by dealers at a range of approximately ₦1,940 to ₦1,950 and sold at an average of ₦1,970 per Pound in major cities like Lagos and Abuja.
The significant gap between the official NFEM rate and the parallel market rate persists, highlighting continued pressure from foreign exchange demand that is not being fully met through formal channels. The higher parallel market rate is often a key factor influencing the cost of imported goods and services in the country.
Market Context
Today’s exchange rates are occurring against a backdrop of global economic uncertainty and domestic monetary policy adjustments. Analysts suggest that the movement is influenced by factors including crude oil price volatility, the nation’s foreign reserve levels, and the ongoing efforts by the CBN to stabilise the Naira and unify the multiple exchange windows.
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