Naira to Dollar official/black market rates today, Monday, January 26, 2026
The Nigerian Naira started the final week of January 2026 on a positive note, strengthening to 1,413.41 per US dollar in the official foreign exchange market.
The currency’s improvement is being credited to enhanced liquidity and strategic interventions by the Central Bank of Nigeria (CBN).
As the business year gains momentum, market participants are closely observing the narrowing gap between official and informal exchange rates, signalling growing stability in the domestic forex market.
Official Market Trends
In early trading on Monday, January 26, the Nigerian Foreign Exchange Market (NFEM) saw the Naira strengthen against the US dollar.
The currency opened at 1,413.41 per dollar, improving from last week’s close of 1,421.90.
Analysts attribute the Naira’s resilience to multiple factors, including the clearance of foreign exchange backlogs, sustained inflows from crude oil sales, and growing foreign portfolio investments.
“The current transparent price discovery mechanism in the NFEM is helping to stabilise corporate demand,” noted one financial expert.
“This environment allows businesses to plan more effectively, reducing sudden market shocks.”
Parallel Market Performance
The parallel or black market has also reflected a degree of stability, though it continues to trade at a premium.
In key hubs such as Lagos, Abuja, and Kano, the dollar is currently exchanged between 1,475 and 1,490 Naira.
Bureau De Change operators report that available supply has kept retail demand for travel and small business transactions largely met.
This balance has prevented significant speculative spikes during the morning trading session.
Despite the premium, the gap between official and parallel rates is narrower than historically observed, indicating progress toward market convergence.
Market Outlook
Official Market (NFEM): 1,413.41 per USD
Parallel Market Range: 1,475 – 1,490
Key Drivers: Improved liquidity, sustained oil revenues, and transparent price discovery
Traders will be monitoring trading volumes throughout the day for signs of long-term currency trends.
With 2026’s macroeconomic projections pointing to falling inflation and steady GDP growth, the Naira is expected to maintain a stable, range-bound performance for the first quarter.
