The British pound is trading for approximately ₦1,880 to ₦1,900 in Nigeria’s formal foreign exchange channels on Monday, November 17, 2025.

Meanwhile, the informal or parallel market quotes are hovering slightly higher at around ₦1,900 to ₦1,920 per £1.

The rate reflects a continuity of recent trends in the Central Bank of Nigeria’s foreign-exchange policy and market liquidity.

With relative stability in forex supply in formal windows and cautious macro-policy signals, the pound-naira pair has remained within the high-₦1,800s to low-₦1,900s band. Forecast outlets had estimated similar ranges for November, validating the current rate trend.

In the parallel market, traders continue to price in a premium over the formal rate. This trend is driven by the urgency of some importers and individuals needing immediate FX access and the limited availability of formal-window FX for all demand segments.

Regarding remittances and currency conversion, recipients converting British pounds in formal FX windows should expect rates around the high ₦1,800s. Converters using informal markets may receive a slightly higher naira value (but at higher cost or risk).

For importers and businesses, companies sourcing pounds (or with pound-denominated obligations) face slightly higher cost burdens due to the spread between formal and informal markets. Managing the FX gap remains a key commercial risk.

For investors and savers, while the naira’s rate against the pound shows relative stability, external factors (global pound strength, domestic inflation and interest-rate outlook, commodity flows) will remain relevant for medium-term FX expectations.