OpenLife Nigeria reports that on this day, October 6, 2025, the Nigerian Naira held onto recent gains, trading around ₦1,466 to the US dollar in the official Nigerian Foreign Exchange Market (NFEM) while the parallel (street) market — tracked by AbokiFX — quoted the greenback at about ₦1,450.
Traders said the official NFEM figure — a volume-weighted average derived from interbank trading — reflected continued inflows and modest liquidity injections into the market, which have pressured the dollar lower compared with levels seen earlier this month.
On the parallel market, AbokiFX’s live black-market feeds showed dealers buying and selling dollars in the mid-₦1,400s, with posted buy/sell quotes clustering around ₦1,445–₦1,460 on Monday — a level that keeps the gap between official and street rates narrower than in previous months.
Market participants said the naira’s resilience this week reflects a combination of improved foreign exchange supply from exporters and tighter speculative activity, though analysts warned that the currency remains vulnerable to shifts in external flows and central-bank operations.
President Bola Tinubu congratulates Zenith Bank founder Jim Ovia on 75th birthday, says his dedication,…
Nigerian banking pioneer Jim Ovia marks 75th birthday on November 4, 2026. From Agbor boy…
Deep contextual analysis: Dickson represents Scholar Ijaw - lawyers, professors, clergy. Tompolo represents Creek Economy…
Governor Chukwuma Soludo makes shocking confession about Peter Obi, reveals Obi's wife is godmother to…
National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has challenged the people…
Marwa Declares War On Drug Cartels
This website uses cookies.