Pound Strengthens Slightly Against Naira: 1 GBP Hits ₦1,852 Mid-Market Rate on March 6, 2026

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The British Pound (GBP) continues to hold firm against the Nigerian Naira (NGN) in early March trading, with the mid-market exchange rate reaching approximately ₦1,852 per Pound as of early today.

According to data from leading currency platforms like Xe.com and Wise, 1 GBP is converting at around ₦1,850–₦1,852 in the mid-market segment. This reflects a modest stabilization and slight uptick from earlier March levels, where rates dipped toward ₦1,830–₦1,840 in some sessions.

The Central Bank of Nigeria (CBN) official rate aligns closely, hovering near ₦1,852–₦1,855 based on recent updates. Meanwhile, the parallel (black) market in Lagos sees higher demand-driven rates, with sellers quoting between ₦1,865 and ₦1,905 per Pound, depending on volume and location.

This resilience in the Pound comes amid broader global currency dynamics, including oil price fluctuations and international tensions impacting emerging markets. For Nigerian importers, travelers to the UK, or diaspora remitters, the current levels mean a Pound buys more Naira than in some weaker periods earlier in the year.

Analysts note that while the Naira has faced pressures in recent months, recent CBN policies and external factors have contributed to relative stability in the GBP/NGN pair so far in March. However, volatility remains a key risk.

Residents and businesses are advised to monitor live rates and use regulated channels for exchanges to avoid unfavorable spreads. For real-time updates, platforms such as Xe.com, Google Finance, or official CBN sources provide the latest figures.

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