The British Pound Sterling opened the week on a strong note against the Nigerian Naira, reflecting sustained demand for the UK currency in both the official and parallel markets on Monday, December 8, 2025.
Official Market Rate
At the Nigerian Foreign Exchange Market (NFEM), the Pound was quoted at about ₦1,933.77 during morning trading.
This continues the trend of high-value Pound trading seen recently, driven by tight Naira liquidity and the Central Bank of Nigeria’s ongoing efforts to manage the floating exchange system.
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Dollar to Naira exchange rate today, December 8, 2025
Parallel Market Rate Still Higher
In the parallel market, the Pound traded for much more. Bureau de Change operators in major cities like Lagos and Abuja reported prices ranging between ₦1,960 and ₦1,975 per Pound.
This wide gap between official and parallel rates is a sign of the pressure on the Naira, especially with strong demand for foreign currency for imports, schooling abroad, and travel. Many buyers continue turning to the parallel market due to limited access through official channels.
As the week unfolds, traders and businesses will be watching the CBN closely for any moves that might improve FX supply or reduce the widening spread between the two markets.
