Abuja, Jan. 1, 2026 (Naija247news) – The Nigerian Naira opened the new year with relative stability in the foreign exchange market, maintaining a steady range against the United States Dollar (USD) as investors monitor ongoing Central Bank of Nigeria (CBN) reforms.
Data from the Nigerian Foreign Exchange Market (NFEM) shows that as of January 1, 2026, the Naira traded at an average rate of ₦1,445.99 per USD, reflecting mild appreciation from mid-December 2025 levels when rates hovered between ₦1,445 and ₦1,470. The closing rate on the final trading day of 2025 settled near ₦1,445.24, signalling a small but positive improvement.
Official Market Performance
The CBN continues to emphasise liquidity management and market transparency, ensuring valid demand for “invisible” transactions such as tuition, medical bills, and business-related payments are met through formal banking channels. Total daily turnover in the official window remains a key focus for investors tracking the Naira’s performance.
Parallel Market Trends
Meanwhile, the informal or parallel market recorded slight premiums typical of the holiday season. The Dollar exchanged at rates between ₦1,480 and ₦1,510 per USD, depending on location and transaction volume. While the gap between official and parallel market rates has narrowed compared with previous years, a spread of 3% to 5%persists. Traders attribute this to higher cash demand from travellers and small-scale importers operating outside the formal NFEM framework.
Macroeconomic Outlook
Economists say the 2026 outlook for the Naira remains closely linked to global oil prices and the success of ongoing monetary policy reforms. Reports from the CBN indicate that FX pressures are expected to ease further this year, supported by initiatives aimed at boosting private investment and stabilising the currency.
Experts note that if current trends of increased FX inflows continue, the Naira may see further consolidation, narrowing arbitrage opportunities, and providing a more predictable environment for businesses and investors in Nigeria.
Naija247news Staff ✔
Godwin Okafor is the Publisher & CEO of Naija247news Media Group LLC, an independent investigative news platform delivering accurate, data-driven reporting on Nigerian and global politics, economy, finance, and business. Founded in October 2010, Naija247news specializes in developmental journalism, providing timely insights and analysis to readers across Nigeria and the diaspora.
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