Pound Naira exchange rate remains steady at ₦1,933 amid CBN interventions and improving market liquidity in early 2026 trading

The British Pound Sterling displayed moderate volatility against the Nigerian Naira during early trading on Thursday, January 29, 2026, as the local currency continued its broader recovery against major global peers.

Also read: BCAN Urges CBN to Sustain Naira Appreciation Reforms

In Nigeria’s official foreign exchange market, the Pound opened at ₦1,927.89.

It dipped to ₦1,924.94 mid-morning before recovering to settle around ₦1,933.41, representing a modest 0.28% gain.

Analysts attributed the stability to the Central Bank of Nigeria’s management of the Electronic Foreign Exchange Matching System, which has improved price discovery and reduced abrupt swings.

While the Naira has strengthened notably against the US Dollar this week, the Pound-Naira pair remains sensitive to global economic indicators, including UK economic data released earlier on Thursday.

In the parallel market, the Pound traded at a premium, quoted between ₦2,015 and ₦2,030 in Lagos, Abuja, and other commercial centres.

Market participants said demand is largely driven by school fees and personal travel, with limited speculative activity helping maintain a predictable range.

Analysts say the gap between official and parallel rates has stabilised, reflecting growing confidence in Nigeria’s foreign-exchange management.

Also read: Naira Hits Strongest Level of 2025 at ₦1,421.73 Per Dollar

With the country’s external reserves continuing to rise, the Naira is expected to maintain resilience against the Pound, provided the Central Bank sustains its current interventions and liquidity management.