Naira Shows Stability Against Pound Amid Controlled Market Movements

On Friday, April 17, 2026, the Nigerian naira held a largely steady position against the British pound sterling across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, even as demand for foreign currency remained strong.

At the official window, the pound traded between ₦1,820 and ₦1,850, based on the most recent data and observable trends. Mid-market estimates placed the rate at approximately ₦1,825–₦1,830, indicating mild day-to-day shifts without sharp swings.

Tracking data suggests the pound-naira exchange rate has consistently hovered within the ₦1,820 to ₦1,850 range over the past week, aided by improved liquidity and ongoing foreign exchange reforms.

Meanwhile, in the parallel market, the naira traded weaker due to sustained retail demand. As of April 16–17, traders purchased pounds at about ₦1,850 and sold them between ₦1,870 and ₦1,900, depending on volume and location.

The difference between official and black market rates remained relatively modest, typically within ₦30 to ₦70, pointing to a slow convergence trend similar to that observed in the dollar segment.

Analysts link the pound’s continued strength to its global standing and persistent demand for foreign exchange in Nigeria, especially for international transactions, education costs, and travel-related needs.

In general, the naira’s performance against the pound reflects a phase of cautious stability, with both markets exhibiting measured movements despite ongoing demand pressures.

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