The Nigerian naira held onto recent gains on Monday, 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.
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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.
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