Pound to Naira exchange rate today, May 6, 2026

The Nigerian Naira traded slightly firmer against the British Pound Sterling on Wednesday, May 6, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market amid gradual improvements in foreign exchange liquidity.

At the official market, the Pound exchanged at approximately ₦1,810 to ₦1,825, based on rates derived from banking and interbank transactions linked to the prevailing dollar-to-naira exchange rate and global GBP/USD movements. Market participants said the official rate remained relatively stable during midweek trading.

In the parallel market, Bureau De Change operators in Lagos, Abuja, and other major cities quoted the Pound at around ₦1,840 for buying and between ₦1,860 and ₦1,875 for selling, depending on demand levels and transaction volume.

Currency traders attributed the slight stability of the naira against the Pound to improved FX inflows and ongoing interventions by the Central Bank of Nigeria aimed at supporting liquidity in the official market.

Analysts noted that the Pound-to-Naira exchange rate continues to be influenced by fluctuations in the global value of the British currency, Nigeria’s foreign reserve position, and sustained demand for foreign exchange from importers, school fee payments, and international travelers.

Financial market observers also said the spread between the official and parallel market rates remained narrower than previous months, reflecting continued efforts to reduce volatility in the country’s foreign exchange market.

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