The British Pound Sterling opened the second week of April with a relatively stable performance against the Nigerian Naira on Monday, April 13, 2026, maintaining its position as one of the most valuable currencies in the Nigerian foreign exchange market.
In the Nigerian Foreign Exchange Market (NFEM), the official window for currency transactions, the Pound Sterling started the trading day at approximately N1,821.58. Real-time data from early morning sessions showed the currency fluctuating between a low of N1,818.98 and a peak of N1,825.72 before stabilizing around the N1,821 mark. This movement indicates a slight appreciation of the Naira in the official segment compared to the previous week’s closing averages, supported by consistent liquidity management from the Central Bank of Nigeria.
In the parallel market, commonly referred to as the black market, the Pound continues to trade at a significant premium due to the high demand for foreign exchange for school fees, medical bills, and international trade. Independent reports from Bureau De Change operators in Lagos and Abuja indicate that the Pound is currently trading within the range of N1,955 to N1,980. Traders noted that the availability of the British currency remains tight in the informal sector, keeping the rates elevated.
Market analysts suggest that the current exchange rate environment is being influenced by the latest inflation data and the anticipation of further policy adjustments by the monetary authorities. For business owners and travelers, the widening gap between the official and parallel market rates remains a critical factor in financial planning for the month.
As of 6:44 AM WAT, the market remains active with a cautious outlook, as participants watch for any significant afternoon shifts in volume that could impact the closing rates for the day.
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