As the Nigerian Naira continues to gain from more extensive market stabilization measures, the British pound sterling finished the first month of 2026 with a comparatively stable performance.
Trading on Friday, January 30, 2026, displays a narrower disparity between the official and parallel markets, signifying a successful month for the Central Bank of Nigeria’s liquidity management.
Official Trends in the Market
The British pound began trading on the Nigerian Foreign Exchange Market (NFEM) at about 1,916.25 per Naira. Throughout the early morning hours, the rate showed minor changes, displaying a high of 1,917.35 and a low of 1,909.70. The currency rate settled at 1,912.64 per Naira around midmorning.
The Electronic Foreign Exchange Matching System (EFEMS), which has expedited price discovery for major international currencies, has been consistently implemented, which has led to this slight increase in the value of the Naira. Financial analysts point out that, thanks to Nigeria’s robust foreign reserves and consistent crude oil production, the present rate of 1,912.64 is a notable improvement over the erratic 2,000+ levels seen in the second half of 2025.
Concurrent Market Conditions
The Pound Sterling is trading between 2,010 and 2,025 on the parallel market, sometimes known as the black market. The instability that frequently characterizes end-of-month trade has mostly disappeared, even though the informal sector continues to command a premium over the official timeframe.
According to Bureau De Change (BDC) operators in Lagos, Abuja, and Kano, individual travel allowances and transfers related to education continue to be the key drivers of demand for the pound. But according to merchants, supply is presently keeping up with demand, averting the severe price jumps that were typical in prior years. Today’s comparatively quiet parallel market is interpreted as an indication that the official window is effectively absorbing a large portion of the corporate demand that had previously overflowed into the unofficial sector.
Rate Summary for January 30
Official NFEM Opening: 1,916.25
Current NFEM (Official): 1,912.64
Range of the Parallel Market: 2,010–2,025
The prognosis for the Naira is still cautiously upbeat as the market moves into the weekend. Given that inflationary pressures are expected to continue their downward trajectory throughout 2026, experts feel that the Pound-Naira pair’s stabilization around the 1,900 mark in the official window offers a solid foundation for the upcoming month.
