The British pound sterling is buying and selling strongly towards the Nigerian naira at this time, with the official mid-market fee round ₦1,890-₦1,950 per £1, whereas parallel/black-market sellers are quoting between roughly ₦1,900 and ₦2,030 per £1.
Key charges
Mid-market/on-line conversion: About ₦1,890-₦1,950 per £1.
Parallel market (road) purchase/promote: Round ₦1,900 to ₦2,030 per £1.
What’s driving the motion
The pound’s energy displays each international sterling strikes and rigidity in Nigerian foreign-exchange mismatches. With demand for kilos within the money/BDC (black-market) channels outpacing seen provide within the official home windows, the unfold between the quoted on-line/official fee and road charges stays extensive. In the meantime, information present the naira holding comparatively agency in current weeks in official channels, serving to stabilise mid-market conversions.
Implications for Nigerians
People remitting, travelling, or paying for GBP-priced providers will seemingly face larger conversion prices if utilizing money/BDC markets moderately than financial institution transfers at official or mid-market charges.
Importers or companies with sterling-denominated obligations should issue within the premium on the road fee when budgeting or sourcing international forex.
For contracts pegged to the official fee or on-line conversions, the relative stability within the mid-₦1,900s per pound might provide higher predictability than earlier within the yr, although warning stays warranted resulting from parallel-market volatility.
All through 2025 the £/₦ fee has ranged roughly between ₦1,800 and ₦2,100 relying on channel and date, with the mid-market presently across the decrease finish of that band. On-line conversion instruments present values close to ₦1,890 per £1 at this time.
What to observe
Updates from the Central Financial institution of Nigeria (CBN) or official Day by day International Alternate Market (NFEM) window on forex allocation and coverage strikes.
Actions within the parallel/BDC marketplace for indicators of widening or narrowing spreads.
Sterling’s international energy or weak spot, which can affect how the naira strikes towards the pound.
The put up Pound to Naira exchange rate today, November 10, 2025 appeared first on Vanguard News.
