The Nigerian naira opened the first full trading week of 2026 amid continued fluctuations across the foreign exchange market, reflecting ongoing demand pressures and cautious sentiment among traders.
At the official market, data from the Central Bank of Nigeria (CBN) showed that the naira exchanged at approximately ₦1,441.50 per US dollar on Monday, January 5, 2026, representing a slight depreciation compared to the previous trading session Central Bank of Nigeria+1.
In the parallel (black) market, also known as the Bureau De Change (BDC) segment, the naira traded weaker. Market trackers indicated that the dollar was bought at about ₦1,490 and sold at around ₦1,505 per dollar, widening the spread between the official and informal markets NgnRates+1.
Currency analysts attribute the persistent volatility to sustained dollar demand for imports, reduced foreign inflows, and cautious positioning by investors at the start of the year. Despite recent efforts by monetary authorities to stabilise the market, pressure remains evident across trading segments.
The CBN has reiterated its commitment to exchange rate stability through market-driven reforms, increased transparency, and tighter financial regulations. However, traders expect short-term fluctuations to continue as market forces adjust in the early weeks of 2026.
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