The naira picked up barely on Friday, November 7, 2025, buying and selling at ₦1,455 per US greenback within the parallel market, a modest acquire from ₦1,460/$ recorded a day earlier.
In the official Nigerian Foreign Exchange Market (NFEM), the story was extra subdued.
The Central Bank of Nigeria (CBN) knowledge confirmed the foreign money buying and selling round ₦1,440 per greenback, a gentle depreciation in contrast with Thursday’s common price.
That motion has narrowed the hole between the official and parallel markets to roughly ₦15 – ₦20 per greenback, suggesting the 2 charges are slowly edging nearer after months of wider swings.
Currency sellers in Lagos stated the advance displays stronger inflows from exporters and remittances, in addition to calmer speculative exercise.
“The market feels steadier this week. People are not hoarding dollars like before,” a Bureau de Change operator in Ikeja instructed First Daily.
Across the week, the naira held principally secure, shifting inside the ₦1,450 – ₦1,470/$ band on the parallel market and displaying solely a slight decline in official buying and selling.
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Analysts view the smaller hole as a constructive sign for market confidence.
“A tighter spread is encouraging,” famous economist Muda Yusuf, Director of the Centre for the Promotion of Private Enterprise (CPPE). “But the big task is sustaining inflows and keeping policy consistent so that confidence can build.”
The naira’s steadier tone follows ongoing Central Bank efforts to enhance liquidity and transparency within the foreign-exchange system, together with tighter oversight of {bank} FX positions.
