Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 21 January 2026

Key points:

Official CBN (NAFEM) Rate: ₦1,419.35 / USD
Black-Market Rate: ₦1,485 / USD
Drivers: Anticipated stronger foreign inflows from higher oil receipts and Foreign Portfolio Investment (FPI); Consistent foreign exchange management by the Central Bank of Nigeria (CBN); International pressure on the US Dollar from geopolitical tensions.
Top Tools: CBN Forex Portal, Aboki Fx

The Naira rebounded slightly at the official market on Tuesday, supported by expectations of improved dollar inflows. Analysts foresee the currency maintaining a firm trading range in the near term, bolstered by stronger oil revenues and disciplined central bank policy.

FAQ

• What's the gap between CBN & black-market rates? The premium stands at approximately ₦65.65. While the official market appreciated, the parallel rate remained steady, indicating that underlying demand pressures in the informal sector persist as a significant factor.
• Will the naira strengthen further? The outlook is for stability within the current range. Positive factors, such as expected higher oil receipts and foreign investment inflows, provide a foundation for support. However, significant strengthening would likely require these projected inflows to materialize at scale and consistently.
• How do oil prices affect rates? Higher oil receipts are cited as a primary driver for the anticipated stronger foreign inflows. This direct link underscores that robust earnings from crude oil exports are essential for improving overall market liquidity and providing the CBN with the resources needed to sustain its supportive management of the exchange rate.