Dollar To Naira Update: Today’s Exchange Rate (Jan 17, 2026)

According to Ireporter Online, the exchange rate of the United States dollar to the Nigerian naira at the parallel market, commonly known as the black market, recorded slight movements on Friday, January 16, 2025. Findings from market operators indicate that the dollar was sold at ₦1,500 and bought at ₦1,480 by traders at the Lagos parallel market.

Currency dealers, including Bureau De Change operators, confirmed that these rates reflect the prevailing demand and supply conditions in the informal foreign exchange market, where prices often fluctuate and may vary across locations.

Meanwhile, the Central Bank of Nigeria (CBN) has consistently reiterated that it does not recognize transactions conducted in the parallel market. The apex bank has advised individuals and businesses seeking foreign exchange to channel their requests through authorized commercial banks.

At the official market, data shows that the CBN exchange rate for the dollar ranged between ₦1,416 and ₦1,420 within the same period. Market observers note that foreign exchange rates may differ depending on the point of transaction, as prices are subject to change based on market forces.