The Naira maintained relative stability against the US Dollar on Wednesday, December 10, 2025, across both official and parallel markets, following the Central Bank of Nigeria’s (CBN) recent overhaul of the Bureau de Change (BDC) sector.
Data from the Nigerian Foreign Exchange Market (NFEM) shows the Naira trading at around ₦1,452.16 per Dollar, a minor intraday depreciation from its opening rate of ₦1,451.30. Earlier in the week, the official rate closed at ₦1,454.00, with daily fluctuations ranging between ₦1,450.25 and ₦1,457.00, reflecting improved liquidity and lower volatility.
In the parallel market, the Naira exchanged hands between ₦1,460 and ₦1,478 per Dollar, narrowing the gap with the official rate to less than ₦30. Analysts attribute this convergence to the CBN’s recent regulatory actions targeting speculation and illicit arbitrage.
The stability follows a major “market reset” by the CBN, which recently approved licences for only 82 BDC operators under a stricter framework, revoking over 4,000 others for non-compliance. The new structure categorises operators into Tier 1 (₦2 billion capital) and Tier 2 (₦500 million capital), aiming to professionalise the sector and eliminate undercapitalised operators that previously distorted exchange rates.
While the Naira has yet to record significant gains in December, the reduced volatility is positive for importers and businesses planning for the new fiscal year. Traders expect the Naira to remain within ₦1,450–₦1,480 for the week, though global oil prices and Nigeria’s external reserves will continue to influence performance as 2026 approaches.