Nigeria’s currency, the naira, closed trading at N1,391 to the US dollar at the end of January 2026 in the official foreign exchange market, strengthening from N1,431 at the start of the month, according to data from the Central Bank of Nigeria.
Figures on the CBN website show the naira traded mostly below N1,425 to the dollar during January, reflecting relative stability, while in the parallel market it closed at N1,453, compared with an opening rate of N1,474, narrowing the gap between the two markets.
The performance builds on gains recorded at the end of 2025, with the naira closing December at N1,429 to the dollar, up from N1,535 at the end of 2024, and marking an improvement from N1,475 recorded in January last year.
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The CBN data also show Nigeria’s external reserves rose from 45.56 billion dollars at the start of January to 46.11 billion dollars by month end, giving the apex bank greater capacity to meet foreign exchange demand and support market stability.
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