BREAKING: Dollar to Naira Exchange Rate today, January 8, 2026

The Nigerian Naira is demonstrating signs of stability in both the official and informal currency markets, as the Central Bank of Nigeria (CBN) continues its proactive reform efforts ahead of the 2026 fiscal year.

In the Nigerian Foreign Exchange Market (NFEM), the Naira commenced trading with a steady outlook. According to data from the FMDQ Securities Exchange, the current spot rate is approximately N1,427.52 per US Dollar.

Expert Predicts Naira Exchange Rate in 2026

This represents a relatively narrow trading range compared to the close of the previous year, signaling that the CBN’s efforts to improve transparency and enhance market liquidity are yielding results.

Market analysts attribute this relative calm to the recent projections by the apex bank, which anticipates Nigeria’s foreign exchange reserves to hit $51.04 billion by the end of 2026, bolstered by increased oil earnings and diaspora remittances.
​In the informal or “black market,” the Naira is currently trading at a slight premium, though it remains within a stable range. Recent quotes from Bureau de Change (BDC) operators in Lagos and Abuja indicate that the Dollar is being exchanged for approximately N1,435 to N1,440.

Over the past twelve months, the disparity between official and parallel market exchange rates has notably decreased. This alignment is a primary goal of the current administration’s monetary policy, designed to discourage speculative hoarding and ensure that businesses can obtain foreign exchange through legitimate banking channels.

Market Drivers and Outlook
​Several factors are influencing the current strength of the local currency:
​Increased Reserves: The optimistic outlook for Nigeria’s external reserves is providing a psychological cushion for the Naira.
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Refinery Impact: The expansion of domestic refining capacity, particularly from the Dangote Refinery, has started to reduce the heavy demand for foreign exchange previously required for fuel imports.
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Monetary Policy Stability: Investors are reacting positively to the CBN’s “Consolidating Macroeconomic Stability” framework, which targets a reduction in headline inflation to roughly 12.94% by the end of the year.
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As the market progresses through the first week of full operations in 2026, traders remain watchful of further interventions by the central bank to maintain the current momentum.