Naira strengthens at official FX market
The Naira recorded a week-on-week gain against the United States dollar at the official foreign exchange market, according to data from the Central Bank of Nigeria.
Between January 9 and 16, 2026, the local currency appreciated by N5.22, closing at N1,417.95 per dollar on Friday, compared with N1,423.17 recorded during the same period last week.
Four-day gain drives weekly performance
CBN data showed that the Naira posted gains on four trading days during the week, with only one loss recorded on Wednesday.
The weekly movement represents a 0.37 percent appreciation at the official market.
Black market rate remains unchanged
At the parallel market, the Naira remained stable throughout the week, trading at N1,490 per dollar in the period under review.
External reserves rise
The Naira’s upward movement at the official market followed a steady increase in Nigeria’s external reserves.
Data showed that the country’s reserves rose by $0.19 billion, or 0.42 percent, to $45.86 billion as of Thursday, January 15, 2026, from $45.67 billion recorded the previous Friday.