The Nigerian naira maintained a relatively steady position against the British pound sterling on Friday, April 17, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, amid sustained demand for foreign currency and gradual market adjustments.
At the official market, the pound is trading within the ₦1,820 to ₦1,850 range, based on the latest available data and recent trends. Mid-market indicators show the pound exchanging at approximately ₦1,825–₦1,830, reflecting marginal day-to-day fluctuations but no sharp volatility.
Data tracking recent movements indicates the pound-naira rate has largely remained stable within the ₦1,820 to ₦1,850 band over the past week, supported by improved liquidity conditions and ongoing reforms in Nigeria’s foreign exchange system.
In the parallel market, the naira trades weaker against the pound due to strong retail demand. As of April 16–17, street traders are buying pounds at around ₦1,850 and selling between ₦1,870 and ₦1,900, depending on location and transaction volume.
The gap between the official and black market rates remains relatively moderate, typically within ₦30 to ₦70, indicating a gradual convergence similar to trends observed in the dollar market.
Market analysts attribute the pound’s continued strength to its global positioning and sustained demand for foreign exchange in Nigeria, particularly for international payments, school fees, and travel-related expenses.
Overall, the naira’s performance against the pound reflects cautious stability, with both official and parallel markets showing controlled movements despite underlying demand pressures.
