Dollar To Naira Today: See The Exchange Rate For January 23, 2026

According to Ireporter Online, the dollar continued to trade at elevated levels against the naira at the parallel market, commonly referred to as the black market or Aboki FX, on Thursday, January 22, 2025. Findings from market operators indicate that the U.S. dollar was sold for as high as ₦1,490, while buyers acquired the foreign currency at approximately ₦1,480 in Lagos. Currency traders at major Bureau De Change outlets attributed the pricing to prevailing demand and supply dynamics within the informal foreign exchange market.

Market participants were, however, reminded that exchange rates at the parallel market are subject to frequent fluctuations and may vary across locations and dealers. Meanwhile, the Central Bank of Nigeria has consistently maintained that it does not recognize transactions conducted at the black market, advising individuals and businesses seeking foreign exchange to patronize licensed commercial banks.

At the official window, the naira traded within a narrower band, with the CBN rate showing the dollar exchanging between ₦1,421 and ₦1,423. Analysts note that the disparity between official and parallel market rates continues to highlight ongoing pressures within the foreign exchange ecosystem, while cautioning that actual buying or selling prices may differ slightly from reported figures due to market volatility.