My people, e be like say naira don arrange him correct level for the market! As una sabi, on January 26, naira don appreciate well-well against the dollar for both parallel market and the Nigerian Foreign Exchange Market (NAFEM). Dem currency dealers for Abuja tell us say naira dey trade for ₦1,480/$1 for buying and ₦1,490/$1 for selling. Na so e be, no change from Friday closing rate o!
For official rate too, naira don stronger small, as e don move from ₦1,421/$1 dey now ₦1,418/$1, meaning say naira don profit N3.33. Dem analysts dey project say dis naira strength go continue for 2026, as e go dey trade within tight range, thanks to beta foreign exchange fundamentals, more FX inflows, and reduced speculative wahala.
Nigeria’s foreign reserves don increase reach $46.18 billion as of January 29, 2026! E don comot from $46.01 billion wey e dey last week. The naira dey flex muscle well, abi you no go reason am? Dis new foreign exchange market structure dey gree investors align their confidence, bring liquidity come, and give naira small stability.
Also, dem dey talk say, the naira recorded massive gain on Friday; e touch ₦1,386.55 per dollar from ₦1,396.99 on Thursday. Na everyday naira dey strengthen o. For the black market too, naira gain ₦10, close for ₦1,470 on Friday. E mean say for week-on-week basis, naira don gain N35.08 and N20 for both official and black markets. Na good news be dat!
But wait, the story no finish here. Naira dey go again! For midweek, naira don fall bless under ₦1,400, e dey settle around ₦1,400.66 to the dollar! E reach ₦1,394 on Wednesday, na the highest gain wey una fit see recently. Dey say na conditions don improve thanks to naira’s serious uptrend and the power wey oil money dey bring, plus better diaspora remittance levels.
Meanwhile, the cryptocurrency market dey dance shakara as traders dey react to US President Trump wey wan name new Federal Reserve Chair wey fit change the game. E dey rumble well-well for that side too, as many coins don drop plenty value. Bitcoin self don decline reach $82,292.42! Wetin you wan make I talk again? Even naira dey find level for all dis currency wahala, but dem dey watch am closely.
This foreign exchange market don dey change shape, and our naira dey collect the praise. E get plenty factors wey dey help naira stand strong, and investors don dey happy. If you de watch this naira movement, make you dey ready! Reserves dey grow, FX liquidity dey increase, and investment confidence dey boom – Naija people dey reason am for market now. Everybody dey ginger for this currency matter!
As dem dey plan for the future 2026, analysts dey expect say naira go maintain this stable condition, but dem still dey warn say oil prices fit change the game any moment. Naira grow dey cool for now, but time go tell wetin go happen as we dey roll enter next trading season. Na so e be for Naija economy!
Do you have a news tip for NNN? Please email us at editor @ nnn.ng
