The naira strengthened on the official Nigerian Overseas Alternate Market (NFEM/NAFEM) window on Friday whereas the parallel (black-market) value for the US greenback remained noticeably larger — displaying the continued hole between official and casual market charges.
Key charges
NFEM/NAFEM (official, CBN-derived VWAP): About ₦1,444 per $1.
Retail financial institution/department quotes: Round ₦1,454 per $1 at some quoted banks.
Parallel/Black market (Lagos): Sellers quoted ₦1,490–₦1,495 per $1 (promote) and roughly ₦1,480–₦1,490 (purchase), relying on supply and time of day.
What moved the naira immediately
The NAFEM (official) window confirmed a modest appreciation versus the earlier session — reflecting continued inflows and lively liquidity administration within the official FX window. One market tracker reported the NAFEM closing close to ₦1,444.35/$1, a small acquire from the prior shut.
On the identical time, parallel-market sellers in Lagos continued to commerce {dollars} properly above official ranges, with mid-to-upper-₦1,400s quotes reported throughout platforms and web sites monitoring black-market exercise. The persistence of this unfold highlights ongoing frictions between official FX provide and casual demand.
How large is the hole?
Utilizing the numbers above, the unfold between the official NFEM/NAFEM fee (₦1,444) and parallel market (₦1,495) is roughly ₦50–₦60 per greenback — a niche that issues for importers, vacationers and small companies who depend on money {dollars}. Market watchers say the dimensions of this unfold can shift shortly when liquidity circumstances or official interventions change.
Context — latest pattern
Over the previous week the dollar-naira alternate fee has proven intraday volatility: historic information trackers famous swings throughout mid-October to end-October, with the market reacting to overseas inflows, native macro bulletins and central-bank operations. Analysts monitoring the week reported the most important every day strikes round October 30.
What this implies for shoppers and companies
Importers & corporates: Higher official window charges can decrease landed prices in the event that they entry NAFEM liquidity, however many small importers nonetheless depend on BDCs or parallel sellers and subsequently really feel the upper black-market value.
Retails/shoppers: Travellers and folks exchanging money in Lagos ought to count on to get decrease values at official financial institution counters than at parallel sellers — however parallel charges carry larger threat and authorized publicity.
The submit Dollar to Naira exchange rate today, October 31, 2025 appeared first on Vanguard News.
