The naira experienced mixed movement in the first week of 2026, recording a modest recovery from its year-end position but remaining under pressure due to sustained demand for the US dollar.
At the Nigerian Foreign Exchange Market (NFEM), the official trading window of the Central Bank of Nigeria (CBN) the naira is currently exchanging at an average of ₦1,441.85 to the dollar.
The currency traded within a volatile range during early sessions, touching a low of ₦1,437.10 before stabilising around its current level.
Meanwhile, the parallel market continues to trade at a premium over the official rate. Independent Bureau De Change (BDC) operators and street traders in major commercial centres such as Lagos, Abuja, and Kano are quoting the dollar between ₦1,455 and ₦1,465, depending on transaction size and location.
Market participants are closely monitoring the CBN’s foreign reserve position and any potential intervention aimed at improving dollar liquidity.
Post-festive season demand has also added pressure to the foreign exchange market, as manufacturers and importers seek dollars to restock inventories ahead of the first quarter of 2026.
