The Nigerian Naira opened the week with a notable degree of stability against the US Dollar, maintaining rates across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Monday, December 8, 2025. This stability comes as market watchers keenly observe the impact of recent Central Bank of Nigeria (CBN) interventions.
NFEM Rate: A Sign of Resilience
In the official foreign exchange window, the indicative exchange rate for the US Dollar to the Naira was recorded at 1449.84 per dollar as of Monday morning. This figure signals a continuation of the rates observed late in the previous week, suggesting that the CBN’s recent efforts in monetary policy and liquidity management may be achieving their objective of holding the market steady.
Market analysts are quick to point out that while the NFEM still struggles with thin liquidity—a factor that typically invites volatility—the consistent rate demonstrates a measure of resilience against ongoing foreign currency demand pressures.
Parallel Market: The Premium Persists
In the parallel, or black, market, which facilitates the majority of informal transactions and many small-to-medium business dealings, the Naira’s value against the Dollar continued to carry a notable premium over the official rate.
Although the trading band can fluctuate significantly across various dealers, sources confirm the Naira was exchanging hands for approximately N1480 to N1490 per dollar in major economic hubs like Lagos and Abuja.
This enduring gap between the official rate and the black market rate remains a significant concern for the business community. It continues to fuel speculative activity and unfortunately discourages the inflow of foreign investment through transparent, official channels.
The foreign exchange market is expected to remain highly sensitive and under close observation for the remainder of the year. Traders and investors are waiting for any major policy pronouncements or significant shifts in foreign currency supply that could impact these rates as the calendar approaches year-end.
