Naira cools off against British pound at N1,842/£1 as CBN mops dollar liquidity

Recent price action shows the local currency is cooling off against the British pound amid growing interest in naira-denominated assets and the CBN’s efforts to mop up dollar liquidity in the Nigerian foreign exchange market.

The latest data from the CBN indicates the Nigerian naira traded at about N1,842/£1 in the official market.

Technical patterns confirm that the psychological ‘break’ below N1,900/£ is highly significant, considering the Naira’s sustained resistance at that level throughout most of 2025 and 2026.