Pound to Naira exchange rate today, January 26, 2026

The British Pound Sterling opened the new trading week with a slight cooling off against the Nigerian Naira on Monday, January 26, 2026. Following a period of modest gains for the Pound, the local currency has shown resilience in the early morning session, supported by steadying liquidity in the official market.

Official Market Trends

In the Nigerian Foreign Exchange Market (NFEM), the Pound is currently trading at an average rate of 1,924.04 per Naira. This represents a marginal appreciation for the Naira, as the market opened the session with the Pound at 1,941.36.

The intraday movement saw the rate dip to a low of 1,922.86 before settling around the current 1,924 mark. Analysts suggest that this movement is a reflection of the broader stabilization of the Naira against major global currencies, driven by the Central Bank of Nigeria’s (CBN) consistent policy framework aimed at reducing volatility. The current trend indicates that the Pound is struggling to break significantly above the 1,950 resistance level in the official window as the month draws to a close.

Parallel Market Performance

The informal or parallel market continues to see the Pound trading at a premium, though the spread remains largely consistent with recent weeks. In major commercial hubs like Lagos and Abuja, the Pound is being exchanged by Bureau De Change (BDC) operators at rates between 2,010 and 2,035.

Demand in the parallel market remains primarily driven by individual travel requirements and small-scale cross-border trade. Traders in Lagos report that while demand is steady, there is no evidence of the panic buying or speculative hoarding that characterized the market in previous years. The availability of the Pound in the informal sector is reportedly adequate for current retail needs.

Summary of Rates for January 26

• NFEM (Official) Opening: 1,941.36
• NFEM (Official) Current: 1,924.04
• Parallel Market Range: 2,010 – 2,035

The market outlook for the remainder of the week depends heavily on the volume of trades in the official window and the continued performance of Nigeria’s foreign reserves. With the 2026 economic trajectory pointing toward lower inflation and improved balance of payments, the Naira is expected to maintain its current defensive posture against the British Pound.