The exchange rate between the Naira and the US Dollar remained fairly stable on Wednesday, December 10, 2025, across both the official and parallel markets. This stability comes as the market continues to respond to the Central Bank of Nigeria’s recent restructuring of the Bureau de Change (BDC) segment.
Official Market (NFEM) Rate
At the Nigerian Foreign Exchange Market (NFEM), the Naira traded at about ₦1,452.16 per Dollar. It opened the day around ₦1,451.30, showing a very slight depreciation—less than 0.1%.
So far this week, the Naira has stayed within a narrow range. On Monday, December 8, it closed at ₦1,454.00, with recent trading sessions recording highs of about ₦1,457.00 and lows of ₦1,450.25. This suggests improved liquidity and reduced volatility compared to previous months.
Parallel Market Rate
In the parallel market, the Naira traded between ₦1,460 and ₦1,478 per Dollar, depending on the area and transaction volume.
The gap between the official and parallel market rates has now tightened to under ₦30, a major shift attributed to the CBN’s crackdown on speculation and illegal arbitrage activities.
What’s Driving the Stability?
The current calm in the FX market follows the CBN’s recent “market reset” of the BDC segment. The apex bank confirmed on Tuesday that only 82 BDC operators have received final approval under the updated regulatory framework.
More than 4,000 operators either had their licenses revoked or failed to meet new requirements.
Under the new structure:
Tier 1 BDCs must have a ₦2 billion capital base.
Tier 2 BDCs must hold at least ₦500 million.
Read Also;
Naira down to N1,475/$ in parallel market
This overhaul aims to strengthen the sector, increase transparency, and eliminate small, unregulated operators who previously contributed to rate distortions.
Analysts note that while the Naira hasn’t made major gains this month, the drop in volatility is a welcome development for importers and businesses planning for 2026.
Outlook
Traders expect the Naira to stay within the ₦1,450 – ₦1,480 range for the rest of the week as the market fully absorbs the impact of the BDC reforms.
However, key external factors—such as global oil prices and Nigeria’s foreign reserves—will continue to shape the Naira’s direction as the country heads into the new year.
