Dollar to Naira Exchange Rate Today, January 5, 2026

The Nigerian Naira opened the first full week of 2026 with continued fluctuations across the various market segments.

As of the morning of January 5, 2026, the local currency showed a slight recovery trend compared to the closing figures of the previous year, though it remains under pressure due to consistent demand for the greenback.

Official Market Rates (NFEM)

In the Nigerian Foreign Exchange Market (NFEM), the official window where the Central Bank of Nigeria monitors transactions, the Naira is currently trading at an average of 1,441.85 per US Dollar.

This follows a period of volatile trading during the early morning hours, where the rate hit a low of 1,437.10 before stabilizing near the current mark. Market analysts note that the volume of liquidity in the official window remains a key factor in price discovery as the government continues its efforts to unify exchange rates.

Parallel Market Performance

The parallel market, often referred to as the “black market,” continues to trade at a premium compared to the official window. Currently, independent Bureau De Change (BDC) operators and street traders in major hubs like Lagos, Abuja, and Kano are quoting the Dollar between 1,455 and 1,465 depending on the volume and location of the transaction.

The gap between the official and parallel rates has narrowed slightly in recent weeks, reflecting a slow but steady convergence driven by tighter monetary policies.

Factors Influencing the Rate

The current exchange rate dynamics are largely influenced by the resumption of full business activities following the festive season. Increased demand from manufacturers and importers looking to restock inventory for the first quarter of 2026 is putting upward pressure on the Dollar. Additionally, investors are keeping a close eye on the CBN’s foreign reserve levels and any potential interventions in the market to provide liquidity.

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