The British Pound recorded a slight gain against the Naira in the Nigerian Foreign Exchange Market (NFEM) on Tuesday, January 13, 2026, amid moderate currency volatility.
Data from the NFEM showed that the Pound opened at ₦1,901.49 and traded around ₦1,917.87 at the mid-market rate. This marked a marginal 0.01 per cent increase from Monday’s close of ₦1,917.74.
During trading, the Pound reached a high of ₦1,921.29 and a low of ₦1,903.40 within the official window. Analysts say these movements reflect ongoing price discovery efforts by the Central Bank of Nigeria to stabilise the Naira.
Parallel Market Trends
Meanwhile, the Pound continued to trade at a premium in the parallel market. Currency dealers in Lagos and Abuja quoted buy rates from ₦1,965 and sell rates up to ₦1,980.
Although the gap between the official and parallel markets persists, the spread has narrowed slightly compared with the sharp swings recorded in late 2025.
Experts attribute the relative stability in the official market to steady liquidity support, even as demand for the Pound remains strong for tuition payments and international trade.
Outlook
Compared with January 13, 2025, when the Pound exchanged at ₦1,895.48, the Naira has depreciated by about 1.18 per cent. However, the currency has recovered from its recent 90-day low of ₦1,975, offering cautious optimism.
Market participants are now watching upcoming economic data releases and central bank signals, which could shape the NGN/GBP exchange rate in the days ahead.
