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In the foreign exchange market, the Naira ended January on a high note, closing at N1,391 to the dollar, compared to its opening rate of N1,431 per dollar.
The Naira trading below the N1,425/$ mark reflects heightened stability in the market, according to data from the Central Bank of Nigeria (CBN).
This performance builds on gains recorded at the end of 2025. On December 31, 2025, the Nigerian currency closed trading at N1,429/$1, representing a 7.4% appreciation from the N1,535/$1 recorded on the final trading day of 2024.
When compared with January 2025, when the naira ended at N1,475/$, January 2026’s outcome marks a notable gain.
In the parallel market, the naira also strengthened, closing at N1,453/$ from an opening rate of N1,474/$.
The slim gap between official and parallel market rates indicates improved confidence in the foreign exchange market, laying the groundwork for a potentially steadier 2026.
