The Nigerian naira traded largely unchanged on Saturday, November 15, 2025. At the official Daily Nigerian Foreign Exchange Market (NFEM), the naira was fixed around ₦1,441–₦1,444 to the US dollar, while in the parallel (cash) market, traders quoted the greenback between approximately ₦1,450 and ₦1,460.
Key numbers
NFEM (official/VWAP) — roughly ₦1,441–₦1,444 per $1.
Parallel (black/Aboki) market — buy ₦1,450; sell ₦1,460 (range observed in Lagos, Abuja and other big cities).
Market moves and why
Market participants said the tight trading range reflected continued Central Bank of Nigeria (CBN) involvement in the FX market, a stream of foreign portfolio flows into local debt markets and steady oil receipts that have eased acute liquidity strains seen earlier in the year. Analysts also pointed to the central bank’s monetary-policy easing this year and calmer global risk sentiment as supporting factors.
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Official window vs parallel premium
The premium between the parallel market and the NFEM fixing remained in the mid- to high-teens (₦15–₦25), a gap that market watchers say will persist until either the CBN injects more spot dollars into the official window or parallel-market liquidity tightens. Importers and corporate hedgers continue to monitor both windows before executing large transactions.
What traders are watching next
Traders will be watching fresh foreign-exchange liquidity from crude oil receipts, any scheduled CBN interventions and flows from non-resident portfolio investors. Macroeconomic signals — including further moves on interest rates and monthly foreign reserve reports — could narrow or widen the current spread between official and parallel quotes.
