The Nigerian Naira strengthened against the United States Dollar on Friday, January 23, 2026, trading at ₦1,418.16/$1 in early official market activity, up from Thursday’s close, signalling a positive end to the third week of the year.
Analysts attributed the appreciation to increased liquidity in the official foreign exchange window and easing demand pressures.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the Naira opened at ₦1,420.13/$1 before strengthening mid-morning.
Experts credited the Central Bank of Nigeria’s (CBN) efficient allocation system and efforts to settle outstanding obligations for the currency’s upward momentum.
Transparency in the NFEM has also fostered a more predictable environment for corporate buyers.
Meanwhile, the parallel market echoed the bullish trend, with the dollar exchanging between ₦1,470 and ₦1,485 in Lagos and Abuja.
Market watchers noted that the narrowing gap between official and black market rates indicates a stabilising Naira, supported by rising foreign reserves and improved diaspora remittances.
