Naira fluctuated in the first week of 2026, showing a slight recovery compared to the closing figure of the previous year, though it remains under pressure due to consistent demand for the Dollar.
The Naira is currently trading at an average of 1,441.85 per US Dollar in the Nigerian Foreign Exchange Market (NFEM), the official window of the Central Bank of Nigeria (CBN).
This follows a period of volatile trading during the early morning hours, where the rate hit a low of 1,437.10 before stabilising near the current mark.
The parallel market continues to trade at a premium compared to the official window.
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.
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Investors are keeping a close eye on the CBN’s foreign reserve levels and any potential interventions in the market to provide liquidity.
Again, 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.
