Nigerian Naira has opened the final week of January 2026 with a notable gain in the official market, as the currency continues to benefit from improved liquidity and strategic interventions by the Central Bank of Nigeria (CBN). Market participants are closely watching the convergence between official and informal rates as the business year gains full momentum.
Official Market Trends
In the Nigerian Foreign Exchange Market (NFEM), the Naira showed significant strength during the early trading session on Monday, January 26. The currency opened at a stronger position compared to last week’s close, with the exchange rate settling at approximately 1,413.41 per dollar.
This represents a steady appreciation from the 1,421.90 closing rate recorded at the end of the previous week. Financial analysts suggest that the Naira’s resilience is being driven by a combination of factors, including the clearance of FX backlogs and sustained inflows from crude oil sales and foreign portfolio investments. The current price discovery mechanism in the NFEM continues to reflect a transparent market environment, which has helped stabilize corporate demand.
Parallel Market Performance
The parallel market, also known as the black market, has mirrored the stability seen in the official window. In major currency hubs like Lagos, Abuja, and Kano, the dollar is currently trading within a range of 1,475 to 1,490.
Market Outlook and Summary
NFEM (Official) Current: 1,413.41
Parallel Market Range: 1,475 – 1,490
Leave a comment