- Dollar to Naira Exchange Rate Today, January 2, 2026
- Black market rate closes at ₦1480 per dollar
- Official CBN rates remain significantly lower
The exchange rate between the United States dollar and the Nigerian naira remained under pressure at the foreign exchange market on Friday, January 2, 2026, as demand for dollars continued to outpace supply.
Checks at the parallel market, also known as the black market, showed that the naira traded weaker against the dollar, reflecting persistent liquidity challenges and sustained demand from importers and individuals.
At the black market on Friday, the dollar exchanged as follows:
| Dollar to Naira (USD to NGN) | Rate |
|---|---|
| Buying Rate | ₦1478 |
| Selling Rate | ₦1480 |
Meanwhile, at the official market regulated by the Central Bank of Nigeria, the naira traded at lower rates compared to the parallel market.
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1439 |
| Lowest Rate | ₦1427 |
Market analysts attribute the continued gap between the official and black market rates to foreign exchange shortages, reduced dollar inflows, and sustained pressure from import dependent sectors of the economy.
The Central Bank of Nigeria has continued its interventions aimed at stabilising the naira, including periodic forex injections and policy adjustments to boost confidence in the official market.
However, currency traders say the naira’s performance remains closely tied to external reserves, crude oil earnings, and investor confidence.
Experts advise individuals and businesses involved in foreign exchange transactions to monitor market movements closely, as rates may fluctuate during the trading week.
FURTHER READING
- Medical Emergencies Top Lagos Incident Reports as LSCCC Logs 11,127 Cases
- Obi Lacks Leadership Pedigree, Only a Madman Would Hand Him Power – Presidency
- FG Launches Nigeria Revenue Service, Phases Out FIRS
