The Nigerian Naira remained stable against the United States dollar on Friday, January 16, 2026, trading around ₦1,422 per dollar in the official market and about ₦1,470 per dollar in the parallel (black) market.
This steady performance was recorded across both the Nigerian Foreign Exchange Market (NFEM) and the unregulated street market during early trading hours.
Performance at the Official Market
Data from the NFEM showed that the naira opened trading at approximately ₦1,422.75 to the dollar. This marked a slight improvement from the previous closing rate of ₦1,424.57.
During the morning session, the exchange rate moved within a narrow range. It touched a high of ₦1,424.32 and dipped to a low of ₦1,421.05.
Financial analysts linked the calm movement to sustained interventions by the Central Bank of Nigeria. Improved liquidity within the banking system also played a key role.
The average exchange rate for the week stayed close to the ₦1,420 level. This suggests the local currency is entering a period of consolidation after sharp swings late last year.
Situation in the Parallel Market
In the parallel market, the naira exchanged between ₦1,465 and ₦1,475 per dollar. Although a gap still exists between official and street rates, it has reduced compared to previous periods.
Bureau de Change operators in Lagos and Abuja said demand for dollars remained moderate. Many businesses now access foreign exchange more easily through official channels.
Economic Outlook
The naira’s stability comes as inflation shows signs of easing and foreign exchange reserves continue to rise. These factors have strengthened the CBN’s ability to support the currency.
Despite this, traders remain cautious. Attention is focused on global oil prices and upcoming debt repayments, which could influence dollar demand in the weeks ahead.