Official Market Performance
According to the Nigerian Foreign Exchange Market (NFEM) data, sourced from the FMDQ Securities Exchange and the Central Bank of Nigeria (CBN), the Naira opened Tuesday trading at approximately N1,447.96 per dollar. This represents a marginal adjustment from previous sessions, highlighting sustained liquidity and subdued volatility in the official window.
Over the past week, the currency has held a relatively steady course. On Friday, November 28, the NFEM closing rate stood at N1,446.90, with a daily high of N1,449.75 and a low of N1,445.00. Preliminary indications from Monday’s trading session (December 1) suggested the rate hovered around N1,446.59, underscoring a stable market environment.
Parallel Market Rates
In the parallel, or “black,” market, the Naira is exchanging hands at slightly higher rates but within a tight range. Surveys in Lagos and Abuja show the dollar trading between N1,465 and N1,470. Digital platforms and international transfer services, including Wise and Access Bank, indicate rates fluctuating from N1,465.33 to N1,469.00 as of Tuesday morning.
The spread between the official and parallel markets currently stands at approximately N18 to N22, reflecting continued convergence between the two channels—a sign that policy measures and market interventions are supporting stability.
Market Outlook
Late 2025 has seen the Naira demonstrate resilience, with the official rate largely contained within the N1,440–N1,458 band throughout late November. Analysts attribute this stability to improved liquidity management, proactive CBN interventions, and consistent efforts to harmonise the official and parallel markets.
With steady inflows from foreign exchange sources and ongoing regulatory oversight, the market outlook for the Naira remains cautiously positive, suggesting that volatility may continue to remain subdued in the near term.