Naira to Dollar official & black market rates today, Monday, January 12, 2026

The Nigerian naira opened the second week of January 2026 against the US Dollar with mixed movements, as traders reacted to early-year liquidity changes across official and informal markets.

Currency activity reflected cautious optimism, with participants watching supply levels and demand pressure as businesses resumed full operations for the year.

Official Market Shows Mild Strength

At the Nigerian Foreign Exchange Market, the naira remained largely steady against the US dollar during early trading on Monday.

Market data showed the currency opening at about ₦1,426.69 to the dollar before firming slightly to around ₦1,423.82 by midday.

This modest improvement represents a 0.20 per cent gain, supported by the Central Bank of Nigeria’s efforts to improve price transparency.

Analysts note that daily turnover will be closely monitored to assess the scale of corporate dollar demand for January.

Parallel Market Trades at Higher Rates

In the parallel market, the naira exchanged at weaker levels compared to the official window.

Currency dealers in Lagos and Abuja quoted the dollar between ₦1,475 and ₦1,490, reflecting persistent demand from retail users.

The price gap between both markets continues to draw attention from analysts tracking liquidity access and market confidence.

While the official market handles bulk transactions, the parallel segment still meets the needs of smaller buyers.

Outlook Remains Cautiously Balanced

Current stability is linked to improved oil revenue inflows and the central bank’s sustained monetary tightening stance.

However, fresh import orders for the first quarter may increase demand pressure in the coming weeks.

Market watchers expect upcoming policy signals from financial authorities to shape currency direction as economic activity gathers pace.