Dollar–Naira Exchange Rate Update For January 4, 2026

Market checks at the Lagos parallel market revealed that currency traders sold the dollar at about ₦1,485, while purchases were made at approximately ₦1,480 per dollar. The rates were gathered from operators within the Bureau De Change segment of the market, who confirmed sustained demand for foreign currency.

Meanwhile, the Central Bank of Nigeria maintained its official exchange window, where the dollar traded at lower levels compared to the parallel market. Data from the official market showed the highest rate at ₦1,438 per dollar, while the lowest stood at ₦1,427.

The apex bank has consistently cautioned Nigerians against transacting in the black market, stressing that it does not recognize the parallel market. The CBN has advised individuals and businesses seeking foreign exchange to channel their requests through licensed banks and approved financial institutions.

Analysts note that exchange rates may vary slightly depending on location and volume of transactions, as forex prices are influenced by demand, supply, and prevailing market conditions.