The Nigerian Naira remain steady against the United States Dollar for early hours of Friday, January 16, 2026, both for official Nigerian Foreign Exchange Market (NFEM) and the parallel, or black market.
Official Market Update
Data from NFEM show say Naira open trading today around ₦1,422.75 to one dollar. This one show small appreciation compared to yesterday closing rate of ₦1,424.57.
As trading continue for the morning, the exchange rate move within narrow range, as e touch high of ₦1,424.32 and low of ₦1,421.05 per dollar.
Market analysts say the relative calm come from steady intervention by Central Bank of Nigeria (CBN) and better forex liquidity inside the banking system. Dem also point out say the average exchange rate for the week dey around ₦1,420, showing say Naira don enter consolidation phase after heavy volatility wey happen late 2025.
Parallel (Black) Market Situation
For the parallel market, Naira dey exchange between ₦1,465 and ₦1,475 to one dollar. Though difference still dey between official and black market rates, the gap don reduce well compared to previous years.
Bureau De Change operators for Lagos and Abuja say dollar demand no too high, as many companies now fit access foreign exchange through official channels without stress.
Economic Outlook
The current stability of the Naira dey come as inflation figures dey cool down gradually and Nigeria foreign exchange reserves dey rise steadily. This don give CBN better capacity to support and defend the local currency.
However, traders still dey cautious, as dem dey monitor global oil prices and upcoming sovereign debt payments, wey fit affect dollar demand in the weeks ahead.
For now, the Naira dey maintain balance, as market players watch next economic signals closely.
