The Naira closed at N1,417.95 to the US dollar on Friday, marking a slight appreciation for the third trading week of January 2026.
This is according to data from the Central Bank of Nigeria (CBN).
This represents a modest week-on-week gain from last Friday’s close of N1,424.5/$.
The currency remained relatively stable throughout the week, trading at N1,425/$ on Monday, N1,420.25/$ on Tuesday, N1,419.5/$ on Wednesday, N1,420/$ on Thursday, before settling at N1,417.95/$ on Friday.
The marginal appreciation of the naira comes amid moderate gains in Nigeria’s external reserves.
Despite the week-on-week gain, the naira remains under pressure from persistent demand for foreign currency in both the official and parallel markets.
The stability of the naira is critical for Nigeria’s economy, particularly in controlling inflation and supporting business transactions denominated in foreign currencies.
Analysts warn that sustaining gains will depend on continued forex inflows and effective management of domestic economic pressures, including inflation and government spending.
Nigeria’s foreign reserves have remained relatively stable above $45 billion since the start of the year, providing a buffer against external shocks and supporting the naira’s trading in the official market.
The performance of the naira this week reflects cautious market optimism, but experts note that sustaining stability will require continued economic reforms, improved forex inflows, and careful monitoring of the external environment.
During the week, Nigeria’s headline inflation eased sharply to 15.15% in December 2025, following a methodological review by the National Bureau of Statistics.