Pound to Naira exchange rate today, February 6, 2026

The British Pound Sterling (GBP) showed a downward adjustment against the Nigerian Naira during the Friday morning trading session on February 6, 2026. As the final trading day of the week unfolds, the Naira has continued to assert its strength, pushing the Pound further away from the 2,000 threshold in both official and informal markets.

Official Market Trends

In the Nigerian Foreign Exchange Market (NFEM), the British Pound opened at 1,848.61 per Naira. Following the opening bell, the rate saw consistent movement, reaching a mid-morning high of 1,854.02. This represents a significant appreciation for the Naira compared to rates seen earlier in the week.

The official market’s performance reflects the broader stability in Nigeria’s foreign exchange landscape. Financial analysts attribute this favorable shift for the Naira to the Central Bank of Nigeria’s (CBN) efficient management of the Electronic Foreign Exchange Matching System (EFEMS) and a notable improvement in foreign reserve levels. The increased transparency in the NFEM has allowed for a more natural price discovery, reducing the volatility often seen at the close of the trading week.

Parallel Market Realities

The parallel market has mirrored the bullish trend of the Naira, with the Pound Sterling retreating in major commercial hubs. In Lagos (Ikeja and Broad Street), Abuja, and Port Harcourt, Bureau De Change operators are currently quoting the Pound between 1,930 and 1,955.

While the informal sector continues to maintain a premium, the gap between the official and parallel rates has narrowed considerably this Friday. Traders report that demand for the Pound—typically high for school fees and personal travel—is being comfortably met by current supply levels. The lack of speculative buying has allowed the Naira to maintain its momentum, providing a more stable environment for retail currency buyers.

Summary of Trading Rates

• NFEM (Official) Opening: 1,848.61
• NFEM (Official) Current: 1,854.02
• Parallel Market Range: 1,930 – 1,955

As the market approaches the weekend, the outlook for the Naira remains positive. If the current trajectory holds, the local currency is expected to enter the second week of February in a dominant position against the British Pound. Investors are keeping a close eye on the final closing figures of the day, which will set the benchmark for cross-border transactions over the weekend.

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