The British pound traded at about ₦1,895 against the Nigerian naira in official markets today, Thursday, November 13, 2025, while dealers in the parallel (street) market quoted between ₦1,900 and ₦1,930 per £1, signaling a small gap between official and informal rates as market participants weigh demand for foreign currency.
Key rates
NFEM / CBN (official mid-market reference): ₦1,894.78 per £1 (reported by market trackers from the Central Bank / NFEM data).
Parallel (street/Abokifx estimates): Buy ₦1,900 — Sell ₦1,930 per £1 (typical buy/sell quotes reported by parallel-market aggregators today).
Online mid-market snapshots and currency sites: roughly ₦1,889–₦1,893 per £1 (tracking platforms that pull live orderbook and forex feeds).
What moved the rate today
Market trackers show the pound/naira trading in a narrow band this week after earlier volatility in November; most price updates on November 12–13 pointed to only modest day-to-day changes as foreign inflows and central-bank FX operations continued to influence liquidity. Analysts say the gap between official NFEM-derived rates and parallel quotes has narrowed compared with wider divergences seen earlier in the year.
Why it matters
Importers and businesses: A rate near ₦1,895 in the official NFEM helps firms that can access formal FX windows plan costs, but companies relying on the parallel market still face higher bills if they cannot access official liquidity.
Remittances and travellers: Individuals receiving pounds or buying foreign currency for travel will generally get better value via formal channels at the NFEM rate where available; street rates remain relevant for quick cash needs.
