Prime Business Africa
The foreign exchange (FX) rate for the United States dollar (USD) closed at N1,454/$ in the Nigerian foreign exchange market (NFEM), also known as the official window, on Tuesday, December 9, 2025.
According to the data on NFEM provided by the Central Bank of Nigeria (CBN), the N1,454/$ is the same rate recorded on Monday, December 8.
Join our WhatsApp ChannelAlso, the data showed that the foreign exchange rate for the American greenback traded as high as N1,456.5 kobo per dollar and as low as N1,450.25 kobo per USD.
In addition, the pound traded flat against the naira at N1,934.08/£1 in the official window, a similar rate reported during trading the previous day.
Likewise, the foreign exchange rate for the euro was stable at N1,690.54 kobo/€1 in the official window.
However, in the parallel market, the USD traded upward to N1,478.01 per dollar, above the N1,475/$ reported during trading the day before.
This indicates the naira depreciated by 0.20 percent, while the foreign exchange rate increased by N3.01.
For the pound, the exchange rate was N2,204.4 per £1, the same rate reported the previous day, and the euro traded at N1,853.7 per €1, which is also similar to the rate recorded on Monday.
The naira’s stability in the parallel market comes at a period when the CBN is reforming the black market by directing bureau de change (BDC) operators to reapply for a new licence.
The CBN said 82 BDCs have been licenced so far, compared to the 6,000 BDC centres Aminu Gwadabe, the president of the Association of Bureaux De Change Operators of Nigeria (ABCON), said existed in Nigeria in September 2023.
However, seven months later, the CBN revoked the licences of 4,173 BDC operators, accusing them of not observing regulatory provisions.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
