Naira to Dollar official & black market rates today, Monday, January 5, 2026

The Nigerian naira began the first full trading week of 2026 with mixed movements across key foreign exchange markets, reflecting ongoing pressure from strong dollar demand.

Early trading on Monday showed mild improvement from the year-end close, although volatility remains as businesses and investors return after the festive break.

Official Market Sees Mild Stability

At the Nigerian Foreign Exchange Market, where the Central Bank of Nigeria oversees trades, the naira exchanged at an average of ₦1,441.85 to the US dollar.

The currency experienced sharp swings in early hours, briefly strengthening to ₦1,437.10 before settling close to current levels.

Analysts say liquidity supply at the official window continues to shape pricing, as authorities pursue exchange rate harmonisation.

Parallel Market Trades at a Premium

In the parallel market, the naira still trades weaker than the official rate, though the gap has narrowed slightly.

Bureau De Change operators in Lagos, Abuja, and Kano quoted the dollar between ₦1,455 and ₦1,465, depending on transaction size and location.

Market watchers link the slower divergence to tighter monetary controls and reduced speculative activity.

Demand Pressures Shape Outlook

Renewed business activity after the holidays is driving fresh demand for foreign exchange across key sectors.

Manufacturers and importers seeking to replenish stocks for early 2026 are increasing pressure on the dollar.

Investors are also monitoring Nigeria’s foreign reserves and possible central bank interventions to ease market strain.