The British Pound has shown a slight uptick in the Nigerian Foreign Exchange Market (NFEM) today, January 13, 2026, as the Naira continues to navigate a period of moderate volatility.
According to data from the NFEM, the official exchange rate for the Pound Sterling opened at ₦1,901.49 and is currently trading at a mid-market rate of approximately ₦1,917.87. This represents a marginal increase of 0.01% from the previous day’s close of ₦1,917.74. Within the official window, the currency has seen a daily high of ₦1,921.29 and a low of ₦1,903.40, reflecting the ongoing price discovery efforts by the Central Bank of Nigeria to stabilize the local unit.
Parallel Market Performance
In the parallel market, commonly referred to as the black market, the Pound is trading at a premium compared to the official window. Unofficial traders in Lagos and Abuja reported buy rates starting at ₦1,965 and sell rates reaching as high as ₦1,980. The gap between the official and parallel markets remains a point of focus for investors, though the spread has narrowed slightly compared to the wider fluctuations seen in late 2025.
Industry analysts suggest that the current stability in the official window is driven by consistent liquidity injections, though demand for the British Pound remains high for foreign tuition payments and international trade.
Historical Context and Outlook
When compared to the same period last year, the Naira has depreciated by roughly 1.18% against the Pound. On January 13, 2025, the rate stood at ₦1,895.48. However, the currency has recovered somewhat from its recent 90-day low of ₦1,975, signaling a cautious optimism among market participants.
Market observers are keeping a close watch on today’s scheduled economic data and central bank communications, which may influence the direction of the NGN/GBP pair for the remainder of the week.
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