Pound to Naira Exchange Rate Holds Steady — November 28, 2025

The British Pound (GBP) to Nigerian Naira (NGN) exchange rate remained largely stable on Friday, November 28, 2025, as forex markets balanced early festive-season demand with steady remittance inflows.

Real-time forex data shows the Pound trading between ₦1,912 and ₦1,925 across the market — reflecting the ongoing narrowing gap between rates in the Nigerian Foreign Exchange Market (NFEM) and the parallel market, a trend that has shaped much of Q4 2025.

Market Activity

In the parallel market, commonly known as the black market, currency traders in Lagos and Abuja quoted buying rates around ₦1,910 and selling rates near ₦1,925. This marks only a slight deviation from Thursday’s close, suggesting stability despite typical end-of-year pressures as businesses increase foreign purchases for December sales.

Financial analytics platforms put the mid-market rate at approximately ₦1,914, while international money transfer operators reported rates fluctuating between ₦1,910 and ₦1,920, offering favourable options for Nigerians abroad sending money home.

What’s Driving the Stability

Analysts attribute the calm in the Pound–Naira exchange to:

• Rising diaspora remittances ahead of the Christmas period.
• Improved forex liquidity, helping balance increased demand from retailers.
• A relatively stable U.S. Dollar, which traded around ₦1,460 earlier in the week on the parallel market, helping stabilize cross-rates.
• Reduced arbitrage opportunities as official and parallel market rates continue to align.

Outlook

Traders cautioned that minor fluctuations may emerge as holiday demand spikes in the coming weeks. However, with global crude prices staying above Nigeria’s benchmark and supporting external reserves, the short-term outlook for the Naira remains cautiously positive.

Travellers and import-dependent businesses are advised to keep an eye on intraday movements, especially within the unregulated segment of the market.

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