The naira picked up slightly on Friday, November 7, 2025, trading at ₦1,455 per US dollar in the parallel market, a modest gain from ₦1,460/$ recorded a day earlier.
In the official Nigerian Foreign Exchange Market (NFEM), the story was more subdued.
The Central Bank of Nigeria (CBN) data showed the currency trading around ₦1,440 per dollar, a mild depreciation compared with Thursday’s average rate.
That movement has narrowed the gap between the official and parallel markets to roughly ₦15 – ₦20 per dollar, suggesting the two rates are slowly edging closer after months of wider swings.
Currency dealers in Lagos said the improvement reflects stronger inflows from exporters and remittances, as well as calmer speculative activity.
“The market feels steadier this week. People are not hoarding dollars like before,” a Bureau de Change operator in Ikeja told First Daily.
Across the week, the naira held mostly stable, moving within the ₦1,450 – ₦1,470/$ band at the parallel market and showing only a slight decline in official trading.
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Analysts view the smaller gap as a positive signal for market confidence.
“A tighter spread is encouraging,” noted 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 improve liquidity and transparency in the foreign-exchange system, including tighter oversight of bank FX positions.