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Today’s Dollar to Naira exchange rate January 26, 2026
The Nigerian Naira opened the final week of January 2026 with a notable gain in the official market, as the currency continues to benefit from improved liquidity and strategic interventions by the Central Bank of Nigeria (CBN). Market participants are closely watching the convergence between official and informal rates as the business year gains full momentum.
Official Market Trends
In the Nigerian Foreign Exchange Market (NFEM), the Naira showed significant strength during the early trading session on Monday, January 26. The currency opened at a stronger position compared to last week’s close, with the exchange rate settling at approximately 1,413.41 per dollar.
This represents a steady appreciation from the 1,421.90 closing rate recorded at the end of the previous week. Financial analysts suggest that the Naira’s resilience is being driven by a combination of factors, including the clearance of FX backlogs and sustained inflows from crude oil sales and foreign portfolio investments. The current price discovery mechanism in the NFEM continues to reflect a transparent market environment, which has helped stabilize corporate demand.
Parallel Market Performance
The parallel market, also known as the black market, has mirrored the stability seen in the official window. In major currency hubs like Lagos, Abuja, and Kano, the dollar is currently trading within a range of 1,475 to 1,490.
While the parallel market still maintains a premium, the gap between the two windows remains relatively narrow compared to historical highs. Bureau De Change operators report that retail demand for personal travel and small-scale business transactions is being met by available supply, which has prevented any significant speculative spikes in the early hours of today’s trading.
Market Outlook and Summary
NFEM (Official) Current: 1,413.41
Parallel Market Range: 1,475 – 1,490
Key Drivers: Improved liquidity, sustained oil revenues, and transparent price discovery.
As the day progresses, traders are looking for signs of sustained volume in the NFEM to confirm the long-term direction of the currency for the remainder of the quarter. With the 2026 macroeconomic outlook projecting a further decrease in inflation and steady GDP growth, the Naira is expected to maintain its current range-bound stability.
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Breaking: Nigerian Workers Demand N300,000 Minimum Wage, FG Faces Fresh Salary Pressure
The Federal Workers Forum, FWF, has demanded an immediate increase in the federal minimum wage from N70,000 to N300,000, noting that the current salary structure can no longer sustain civil servants amid Nigeria’s rising cost of living.
The Forum made the demand in a letter dated September 2, 2026, addressed to President Bola Ahmed Tinubu and the National Assembly, with the Senate President, Speaker of the House of Representatives, Chief Justice of Nigeria and Head of the Civil Service of the Federation listed among the recipients.
The workers also proposed a new salary structure that would place the highest-paid Level 17 officer on a monthly salary of N1.5 million, while Level 1 Step 1 workers would earn N300,000.
“We call for justice and immediate wage review now, adjust the federal minimum wage to N300,000 and a maximum wage of N1.5m for the Level 17 officers,” the Forum said.
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The FWF argued that the Federal Government had not fully implemented the 2024 minimum wage agreement, claiming that federal workers had yet to receive the full consequential adjustment and associated allowances.
“It will surprise you to hear that the Federal Government has not fully implemented the new national minimum wage since July 2024. We have been in the battle for full consequential adjustment of the new minimum wage,” it said.
Recall that the Nigeria Labour Congress, NLC, in August 2026, demanded an upward review of the minimum wage to N500,000.
In July 2024, President Bola Tinubu’s government increased the minimum wage to N70,000 per month from N30,000.
However, the cost of living for many Nigerians has tripled between 2024 and 2026.
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BREAKING NEWS: ‘No Support For Military Coup in Niger’ – FG
The Federal Government has said Nigeria will never support a military coup or any unconstitutional change of government, following claims that the country backed a failed coup attempt in the Niger Republic.
The Minister of State for Foreign Affairs, Sola Enikanolaiye, made this known in a statement issued on Thursday.
According to the statement, the claims circulating on social media are baseless and misleading.
Enikanolaiye said Nigeria remained committed to democracy, constitutional rule and political stability in West Africa and would not support any attempt to remove a government through unconstitutional means.
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“Nigeria will never support illegality or unconstitutional change of government anywhere, no matter who is involved or which country is concerned,” he said.
The minister also rejected claims that Nigeria, through its membership of the Economic Community of West African States (ECOWAS), supported or endorsed the military takeover in Niger.
He said the Federal Government had already stated its position on the situation in Niger in an earlier statement issued by the Ministry of Foreign Affairs on August 30, 2026.
According to him, Nigeria remains deeply concerned about developments in Niger and wants the country to return peacefully to stability and constitutional order.
Enikanolaiye said Nigeria’s close historical, cultural and fraternal ties with Niger made peace and stability in the neighbouring country particularly important.
“Nigerians at home and abroad should disregard the videos and narratives circulating online, they are intended to create confusion and tarnish Nigeria’s image,” the statement said.
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