Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 20 January 2026

Key points:

Official CBN (NFEM) Rate: ₦1,417.53 / USD
Black-Market Rate: ₦1,465 - ₦1,480 / USD (range)
Drivers: A "consolidation phase" in the economy with a 4.68% growth target for the year; Improved transparency in the Central Bank's external debt and liquidity management; Easing inflation and stable oil prices supporting reserves.
Top Tools: CBN Forex Portal, Aboki Fx

The Naira maintained a steady performance on Tuesday, showing marginal appreciation in the official market. This stability aligns with the government's broader economic consolidation goals and is supported by a more predictable debt management environment, which is boosting confidence among investors and manufacturers.

FAQ

• What's the gap between CBN & black-market rates? The premium remains in a band of approximately ₦47 to ₦62. While persistent, this spread is noted to be significantly narrower than the extreme gaps seen in previous years, indicating a relative improvement in market convergence.
• Will the naira strengthen further? The immediate outlook is for continued stability within the current range. The focus is on economic consolidation, with the Central Bank expected to manage liquidity to support growth targets. Significant strengthening would likely depend on sustained increases in foreign exchange inflows relative to demand.
• How do oil prices affect rates? Global oil price movements remain a critical long-term factor for Nigeria's foreign reserves. Current stability in the exchange rate is partly underpinned by steady oil revenue, which funds the reserves. Any major shift in petroleum demand or prices would directly impact this foundational support for the Naira's value.