Naira to Dollar official/black market rates today, Friday, January 23, 2026
The Nigerian Naira rose against the United States Dollar in early trading on Friday, January 23, 2026, trading at ₦1,418.16/$1, signaling a positive end to the third week of the year.
Analysts said increased liquidity in the official foreign exchange window and easing demand pressures contributed to the local currency’s upward momentum.
Official Market Performance
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the Naira opened the session at ₦1,420.13/$1.
By mid-morning, it strengthened to ₦1,418.16/$1, marking a 0.31% gain from Thursday’s close.
Market experts attribute the appreciation to the Central Bank of Nigeria’s (CBN) more efficient allocation system and its efforts to settle outstanding obligations.
Transparency in the NFEM has also created a predictable environment for corporate buyers, with the Naira maintaining a relatively stable band throughout January.
Parallel Market Activity
The parallel market mirrored the bullish trend seen in the official sector. In key trading hubs such as Lagos (Ikeja and Broad Street) and Abuja (Wuse Zone 4), the dollar was exchanged between ₦1,470 and ₦1,485.
The slight dip in parallel market rates suggests retail demand is being met comfortably.
Bureau De Change operators noted that early-year speculative pressures have eased, thanks to improved CBN oversight and a steady inflow of diaspora remittances.
Closing Summary for January 23
NFEM (Official) Opening: ₦1,420.13/$1
NFEM (Official) Current: ₦1,418.16/$1
Parallel Market Range: ₦1,470 – ₦1,485
Market watchers highlight the narrowing gap between the official and parallel markets as a positive sign.
If the current trend continues, the Naira is expected to remain resilient, supported by rising foreign reserves and a stabilising trade balance.
Investors and the public are closely monitoring weekend closing rates, which could set the tone for the last week of January.
