...the Pound Sterling opened trading at ₦1,901.49 and later exchanged at an average mid-market rate of about ₦1,917.87.
ABUJA, NIGERIA- The iNews Times | The British Pound recorded a modest gain in the Nigerian Foreign Exchange Market (NFEM) on Tuesday, January 13, 2026, as the naira continued to experience moderate volatility.
NFEM data show that the Pound Sterling opened trading at ₦1,901.49 and later exchanged at an average mid-market rate of about ₦1,917.87. This reflects a slight increase of 0.01 per cent compared to the previous day’s closing rate of ₦1,917.74. During the trading session, the currency reached a high of ₦1,921.29 and a low of ₦1,903.40, underscoring ongoing price discovery measures by the Central Bank of Nigeria aimed at stabilising the naira.
In contrast, the parallel market continued to trade the Pound at a higher premium. Currency dealers in Lagos and Abuja quoted buying rates from ₦1,965, with selling prices climbing to as much as ₦1,980. While the disparity between the official and unofficial markets persists, the margin has narrowed slightly compared to the sharp swings witnessed toward the end of 2025.
Analysts attribute the relative stability in the official market to sustained liquidity support, although demand for the Pound remains strong, particularly for overseas education payments and international trade transactions.
On a year-on-year basis, the naira has weakened by approximately 1.18 per cent against the Pound. The exchange rate stood at ₦1,895.48 on January 13, 2025. Nevertheless, the local currency has shown some recovery from its 90-day low of ₦1,975, offering cautious optimism to market participants.
Market watchers are closely monitoring key economic data releases and signals from the Central Bank, which are expected to shape movements in the naira–Pound exchange rate in the days ahead.
