- Naira to Dollar Exchange Rate Today, 31 January 2026 – Official and Black
- Parallel market dealers quoted the dollar around ₦1,470 per dollar.
- Improved liquidity and CBN reforms supported recent naira stability.
The Nigerian naira continued its recent strengthening trend against the United States dollar on 31 January 2026, with both official and parallel market exchange rates showing resilience amid ongoing foreign exchange reforms and improved liquidity in the currency market.
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EKO HOT BLOG reports that data from the Central Bank of Nigeria (CBN) and major forex trackers indicate that the naira closed the week on a positive note, marking one of its strongest performances in over two years.
At the official foreign exchange window (NFEM), the dollar traded significantly firmer compared to recent weeks, reflecting increased market confidence and inflows. Meanwhile, in the parallel or black market (Aboki FX), rates remained relatively stable with slight gains as Bureau de Change operators quoted competitive prices in major Nigerian cities.
Here are the exchange rates for 31 January 2026, showing how many naira one US dollar could buy across different trading segments:
Exchange Rate Table – Naira to US Dollar (31 January 2026)
| Market Segment | Buy Rate (₦ per $1) | Sell Rate (₦ per $1) |
|---|---|---|
| Official Market (CBN/NFEM) | ₦1,386.55 | ₦1,386.55 |
| Black Market (Parallel/Aboki FX) | ₦1,460 | ₦1,470–₦1,480 |
Notes:
• Official Market: The naira closed at ₦1,386.55 to $1, its strongest level in recent sessions as official forex data showed a notable appreciation.
• Black Market: Dealers in cities such as Lagos, Abuja, Port Harcourt and Kano quoted the dollar at around ₦1,460 to ₦1,480, reflecting modest gains compared to earlier in the week.
Analysts said the improved performance at the official window was supported by ongoing CBN interventions and enhanced FX liquidity, although caution remains as gains could be influenced by short-term flows. The gap between official and black market rates persists, though the differential has narrowed recently due to better supply conditions and market confidence.
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