Data from the Central Bank of Nigeria (CBN) showed that the naira appreciated to ₦1,421.63 per dollar on Friday, up from ₦1,422.07 traded on Thursday. This represents a modest gain of ₦0.44 within one day.
The uptick in the naira’s value coincided with an increase in Nigeria’s external reserves, which rose to $46.01 billion as of 22 January 2026, up from $45.95 billion recorded on 19 January 2026.
Weekly Market Performance
Across the week, the naira’s performance at the official FX market was mixed, recording three losses and two gains against the dollar.
In contrast, the naira held steady in the black market, where multiple Bureau de Change operators in Wuse Zone 4, Abuja, reported the currency trading at ₦1,490 per dollar throughout the week.
What This Means
The slight appreciation in the official market, alongside rising external reserves, suggests growing stability in Nigeria’s forex environment. However, the continued divergence between official and parallel market rates indicates ongoing pressure and demand for dollars outside regulated channels.