Pound to Naira exchange rate today, November 19, 2025

The British pound traded at around ₦1,930 in Nigeria’s parallel market on Wednesday while inter-bank rates hovered near the ₦1,900 mark, reflecting persistent dual-tier currency trading for the pound.

Key figures

Parallel (street) rate: ₦1,898 for buy and ₦1,930 for sell per £1, according to the latest Abokifx bulletin in Lagos.

Mid-market inter-bank / online quoted rate: about ₦1,902 per £1.

What happened today
The pound-naira pair remained stable at the street level, with only a modest uptick in the sell rate from ₦1,928 on Tuesday to ₦1,930 on Wednesday. Meanwhile, institutional and online quotations tracked just under ₦1,910, showing the formal channel remains somewhat insulated from the wider variation affecting the parallel markets.

Why the spread persists
Analysts say the divergence between street and inter-bank pound/naira rates is driven by uneven supply of sterling through authorised channels, heightened demand for pounds for diaspora remittances and travel, and limited direct central bank interventions targeting the pound rather than the US dollar. The broader foreign-exchange environment in Nigeria remains influenced by oil revenue inflows, external debt servicing, and the need for stability in the exchange rate regime.

Short-term trend
Over the past week, the pound has traded within a narrow band in Nigeria, with online/mid-market quotes moving between about ₦1,900 and ₦1,910 per £1. The street rate has remained around the ₦1,930 level for the sell side for at least several sessions.

What it means for Nigerians

Individuals travelling to or from the UK or dealing in pounds should budget around ₦1,900-₦1,930 per £1 depending on channel.

Businesses importing UK-sourced goods or paying UK-based suppliers may face higher effective costs if forced into parallel market access rather than formal banking channels.

Those who use authorised channels and banks are likely to secure the lower quote in the formal band, yet may still face premium over the inter-bank rate due to fees and access constraints.

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