By Ireti Asemota.
The Canadian Dollar (CAD) to Nigerian Naira (NGN) rate remained relatively stable on Monday, December 1, 2025, amid early festive demand and consistent remittance flows. Mid-market conversions hovered around ₦1,028–₦1,037 per CAD, while parallel market dealers quoted ₦1,035 (buy) to ₦1,043 (sell), per public currency converters and bureau de change reports.
Key Rates
- Mid-Market Rate: ~₦1,028–₦1,037 per CAD (official FX platforms).
- Parallel Market: Buying ~₦1,035; Selling ~₦1,043 (Lagos/Abuja variations).
Market Snapshot
Rates showed minor fluctuations from last week’s close, with the spread between mid-market and parallel narrowing slightly—indicating better liquidity and reduced arbitrage. Remittance recipients and small importers continue favoring informal channels due to limited official CAD availability.
Why the CAD/NGN Rate is Stable
- Remittance Boost: Diaspora CAD inflows ahead of holidays supported supply.
- Naira/USD Anchor: Steady USD/NGN (~₦1,460 parallel) stabilized cross-rates.
- Volatility Factors: Year-end trends and CBN interventions curbed sharp moves, but festive pressures could test levels.
Implications for Nigerians
- Remittances/Travel: Parallel premiums add ~1–2% cost for informal exchanges, but narrower gaps ease burdens.
- Businesses/Importers: Formal access aligns with mid-market stability; parallel reliance inflates CAD-priced goods slightly.
Analysts forecast cautious optimism into December—sustained inflows may hold rates, but monitor for holiday volatility. Check CBN dashboards for live updates.
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